Around 1.2 crore farmers are likely to receive the first tranche of Rs 2,000 under the PM-Kisan scheme on February 24, on the day of the launch of the scheme, government sourced told CNBC-TV18.
The government will launch the Pradhan Mantri Kisan Samman Nidhi Yojana (PM-KISAN) at farmers' conclave in Uttar Pradesh on Sunday.
Piyush Goyal, who was serving as the interim finance minister in absence of Arun Jaitley, announced the scheme in the interim Budget. The scheme aims to provide financial assistance of Rs 6,000 in three instalments to 12 crore small and marginal farmers holding cultivable land up to 2 hectare.
The government is likely to complete the transfer of the 1st tranche to all the farmers by March 31, said the sources, who did not want to be named, adding that it was still preparing the beneficiary list.
Around 2 million names were rejected in the 1st round due to verification issue, the sources added.