There is a positive development for the eagerly awaiting beneficiaries of the next instalment of the prime minister Kisan Samman nidhi Yojana. prime minister Narendra Modi is set to initiate the transfer of the next instalment of funds into the accounts of millions of farmers before Holi. The 16th instalment is expected to be credited to the accounts of farmers later this month.

The official PM Kisan handle on the social media platform X shared this information, stating that prime minister Narendra Modi will transfer the 16th instalment of the PM Kisan Samman nidhi Yojana from Yavatmal district in maharashtra on february 28, 2024. The funds will be directly transferred to the farmers' bank accounts through the Direct Benefit Transfer (DBT) mechanism.

This update was also reflected on the official website of PM Kisan Yojana, confirming that the funds for the 16th instalment will be transferred on february 28. The timing of this instalment transfer coincides with the celebration of the festival of colours, Holi, which is scheduled for march 25th this year. Additionally, lok sabha elections are anticipated in the coming months, possibly during March-April, as the current Lok Sabha's term concludes in May.

The PM Kisan Yojana, aimed at boosting farmers' income, provides financial assistance of Rs. 6,000 annually to small and marginal farmers. The assistance is directly transferred to the farmers' bank accounts through the DBT mechanism. The last instalment under this scheme was disbursed in November, and the upcoming transfer, will mark the 16th instalment of the PM Kisan Samman nidhi Yojana.