New Delhi, May 13: Prime Minister Narendra Modi will release the 8th instalment of financial benefits worth Rs 19,000 crore under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme on Friday to benefit more than 9.5 crore farmers.

The Prime Minister will release the instalment through video conferencing at 11 a.m. PM Narendra Modi To Release 8th Installment Of Financial Benefit Under PM-KISAN Scheme On May 14 At 11 AM Via Video Conferencing

"The instalment will enable the transfer of more than Rs 19,000 crore to more than 9.5 crore beneficiary farmer families," said a statement issued from the Prime Minister's Office.

The Prime Minister will also interact with farmer beneficiaries during the event. The Union Agriculture Minister will also be present on the occasion.

Under the PM-KISAN scheme, a financial benefit of Rs 6,000 per year is provided to the eligible beneficiary farmer families, payable in three equal 4-monthly instalments of Rs 2,000 each.

The fund is transferred directly to the bank accounts of the beneficiaries. In this scheme, Samman Rashi of over Rs 1.15 lakh crore has been transferred to farmers' families so far.

(The above story first appeared on LatestLY on May 13, 2021 03:44 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).