NEW DELHI, June 10 (Xinhua) -- Indian Prime Minister Narendra Modi on Monday released the 17th instalment of the PM Kisan Samman Nidhi, or PM Farmers Tribute Fund, worth 200 billion Indian rupees (2.39 billion U.S. dollars).
This was the first file signed by Modi on his first day in office in his third consecutive term as the prime minister of the South Asian country.
The fund would be distributed among nearly 93 million Indian farmers.
"This will benefit 9.3 crore farmers and distribute around INR 20,000 crores. After signing the file, PM Modi said ours is a government fully committed to Kisan Kalyan (farmers' welfare). It is therefore fitting that the first file signed on taking charge is related to farmer welfare. We want to keep working even more for the farmers and the agriculture sector in the times to come," said a press release issued by the Prime Minister's Office.
Launched in 2019 by India's federal government, the PM Kisan Samman Nidhi initiative aims to provide small and marginal Indian farmers with income support of 6,000 Indian rupees (71.8 dollars) per year in three equal instalments.
