THE CENTRE on Friday approved continuation of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) Scheme for the next five years. A decision of this effect was taken during the Cebinet meeting chaired by Prime Minister Narendra Modi.According to an official statement issued after the Cabinet meeting, the PM-KISAN will continue for the next five years from 2026-27 to 2030-31. “A total financial outlay of Rs.3.15 lakh crore has been approved for the Scheme during this period,” it said.“The approval reiterates the Government’s commitment that the prosperity of farmers forms the foundation of the nation’s prosperity. Through the PM-KISAN Scheme, timely and transparent income support is being provided to eligible farmer families through the Direct Benefit Transfer (DBT) system, enabling farmers to increase agricultural investment and strengthen their livelihoods,” the statement said.The scheme was launched on February 24, 2019, ahead of the Lok Sabha elections.According to the statement, so far, more than Rs 4.47 lakh crore has been transferred directly into farmers’ bank accounts through 23 instalments under the Scheme. As part of 23rd installment, the total assistance of Rs 18,984 crore was transferred to more than 9.49 crore farmers.“During the COVID-19 pandemic, more than Rs.1.71 lakh crore was disbursed to provide financial assistance to farmers,” the statement said.The statement further said that women farmers have received more than Rs.1.06 lakh crore under PM-KISAN, and nearly one out of every four beneficiaries is a woman farmer.Story continues below this ad“The impact of the PM-KISAN Scheme has been assessed by various independent institutions. According to the evaluation conducted by the Development Monitoring and Evaluation Office (DMEO) of NITI Aayog: More than 92% of beneficiaries reported that they utilised the assistance amount for agricultural activities and agricultural investment,” the statement said.“Approximately 85% of beneficiaries confirmed an improvement in agricultural income and a reduction in dependence on informal credit,” it added.