Interim Budget: Rs 6,000 a year income support scheme for farmers announced

Finance Minister Piyush Goyal said the scheme would directly benefit 120 million farmer families

Finance Minister Piyush Goyal on Friday announced a cash transfer scheme, the Pradhan Mantri Kisan Samman Nidhi, to provide income support of Rs 6,000 per year to small and marginal farmers in the Interim Budget 2019. The government has allocated Rs 75,000 crore towards the scheme for financial year 2020.    

The scheme will provide assured income support to small and marginal farmers. Under the scheme, farmers with small landholdings, of up to two hectares, will be provided direct income support of Rs 6,000 per year.  

Goyal said the term of the scheme will start from December 2018 itself and