PM Modi to release 24th PM-KISAN instalment: ₹18,690 crore for 9.34 crore farmers

Prime Minister Narendra Modi is scheduled to release the 24th instalment of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) on Friday, October 30, 2026, at an event in Banaskantha, Gujarat. The Union Agriculture Ministry said in a statement in New Delhi on Thursday that more than ₹18,690 crore will be transferred directly to the bank accounts of over 9.34 crore farmers across the country.

The PM-KISAN scheme provides income support to eligible farmer families through Direct Benefit Transfer. Eligible beneficiaries are identified by state and Union Territory administrations, and the money is credited to their bank accounts. The Ministry said the 23 instalments released so far have transferred more than ₹4.47 lakh crore to farmers.

Under the scheme, which was launched in 2019, eligible farmer families receive ₹6,000 per year in three equal instalments, subject to eligibility conditions. Certain categories, including institutional landowners and income-tax payers, are excluded from the scheme. The Ministry said the support helps farmers meet agricultural and household expenses and supports their livelihood security. Direct transfer is intended to reduce delays and leakages in the delivery of benefits.

PM-KISAN is a central sector scheme, fully funded by the Union government. It is implemented by the Department of Agriculture and Farmers Welfare. The scheme is among the largest direct benefit transfer programmes in the country, with funds sent to Aadhaar-linked bank accounts of beneficiaries.

At the same event, the Prime Minister will inaugurate 521 units established under the Agriculture Infrastructure Fund. The fund is a financing facility for post-harvest management infrastructure and community farming assets. It was launched in 2020 to provide medium- and long-term debt financing, with interest subvention and credit guarantee support. The Ministry said the 521 units are meant to strengthen agricultural storage, processing and related infrastructure.

The Agriculture Infrastructure Fund supports projects such as warehouses, cold storage units, silos and grading facilities. The 521 units being inaugurated are part of the infrastructure created under the fund.

He will also inaugurate 12 horticulture clusters to promote high-value horticultural crops. Horticulture clusters are area-based groups of farmers and enterprises producing fruits, vegetables, flowers and other high-value crops. The Ministry said the clusters are intended to encourage cultivation of high-value crops. It did not provide further details about the individual projects.

The 12 horticulture clusters are part of the government’s cluster development approach for high-value crops. Such clusters bring together farmers, processors and other stakeholders in a defined area. The Ministry said the clusters will promote high-value horticultural crops.

The Ministry said several schemes have been implemented over the past 12 years to improve farmers’ incomes and promote modern agricultural practices. It said these initiatives will further the government’s efforts to provide financial support to farmers, modernise agricultural infrastructure, promote crop diversification, and build a prosperous, resilient and self-reliant agricultural sector in line with the vision of Viksit Bharat.

The event in Banaskantha is expected to be attended by farmers and officials. The Ministry’s statement did not specify other details about the programme. The release of the 24th instalment is part of the government’s ongoing income support programme for farmers.