Kisan Samman Nidhi Yojana :BS Yeddyurappa to come up with ordinance for increasing Contingency fund

In a press statement, Karnataka Chief Minister BS Yeddyurappa told that his government is planning to come up with an ordinance for increasing Contingcey fund of the state. Currently, the fund has a total value of 80 crores. The government wants to increase its limit to 2200 crores.

What is the Contingency Fund of State?

Contingency Fund of the State is a fund used for meeting unforeseen expenditures. The fund is placed at the disposal of the Governor of the State who oversees it. It is formed under Article 267 (2) of the Indian Constitution. It is different from the Consolidated Fund.

Chief Minister said that the increased amount of Contingency fund will be used to meet the payment of an additional Rs. 2000 in the first installment of Pradhan Mantri Kisan  Samman Nidhi Yojana.

PM Kisan Samman Nidhi Yojana is an ambitious scheme of Government of India providing income support of Rs.6000 per year to vulnerable farming households, those having landholding up to 2 hectares.

In Today’s Cabinet meeting held in Karnataka, Chief Minister discussed the feasibility of this step. The decision was taken place in this very meeting today.

In the previously held meeting, BS Yeddyurappa announced that his government will soon release Rs 2,000 as the first installment to the accounts of beneficiary farmers. Chief Minister here also announced to waive off Rs. 100 crore from farmer’s debt to alleviate their burden.

The decision to provide additional financial aid comes as a sign of relief for drought-stricken farmers in the state.

He also met Narendra Singh Tomar (Union Minister of Agriculture & Farmer’s Welfare) in Delhi today. Chief Minister BS Yeddyurappa urged the Union Minister to extend the enrolment cutoff date for farmers under Pradhan Mantri Kisan Samman Nidhi Yojana. He asked him to extend the cutoff date to 14 August 2019.

 

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