New Delhi, December 31: Prime Minister Narendra Modi on Friday said that the first day of New Year, 2022 will be dedicated to the farmers of the country as the Centre is going to release 10th installment of financial benefit under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme on January 1, 2022.

"The first day of the New Year, 2022 will be dedicated to the annadatas (farmers) of the country. Will be fortunate to release the 10th installment of PM-Kisan through video conferencing at 12:30 pm. Under this, more than 10 crore farmer families will be benefited by the transfer of an amount of Rs 20,000 crores," the Prime Minister said in a tweet (roughly translated from Hindi).

Also Read | 7th Pay Commission: Odisha Govt Hikes DA by 3%, to Benefit 7.5 Lakh Employees, Pensioners.

This will enable the transfer of an amount of more than Rs. 20,000 crore to more than 10 crore beneficiary farmer families, read the press release by the Prime Minister's Office (PMO).

Under the PM-KISAN scheme, a financial benefit of Rs 6000 per year is provided to the eligible beneficiary farmer families, payable in three equal 4-monthly instalments of Rs 2000 each.

Also Read | Uttarakhand Government Hikes Old-Age and Widow Pension From Rs 1200 to Rs 1400.

The fund is transferred directly to the bank accounts of the beneficiaries. In this scheme, 'Samman Rashi' of over Rs. 1.6 lakh crore has been transferred to farmer families so far, according to the statement.

During the programme, the Prime Minister will also release an equity grant of more than Rs 14 crore to about 351 Farmer Producer Organizations (FPOs), which will benefit more than 1.24 lakh farmers. The Prime Minister will interact with FPOs during the event and will also address the nation.

Union Agriculture Minister Narendra Singh Tomar will also be present on the occasion.

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)