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The extension of the scheme will enhance farmers' capacity to invest in agriculture, improve productivity, help reduce agricultural risks and strengthen the rural economy, it added. Through this scheme, timely and transparent income support is being provided to eligible farmer families through the Direct Benefit Transfer (DBT) system. Talking about the successful implementation of this programme, the government said it has so far disbursed more than Rs 4.47 lakh crore directly into farmers' bank accounts through 23 instalments under the scheme.

Under the 23rd instalment, more than 9.49 crore farmers benefited, with over Rs 18,984 crore released. "Women farmers have received more than Rs 1.06 lakh crore under PM-KISAN, and nearly one out of every four beneficiaries is a woman farmer," the statement said. The government highlighted that the assistance provided under PM-KISAN has enabled farmers to make timely investments in seeds, fertilisers, irrigation, agricultural machinery and other agricultural requirements. "This has enhanced farmers' productive capacity, reduced their dependence on informal credit and strengthened the financial stability of rural households," it added. Further, the government said that the impact of the PM-KISAN Scheme has been assessed by various independent institutions. According to the evaluation conducted by the Development Monitoring and Evaluation Office (DMEO) of NITI Aayog, more than 92 per cent of beneficiaries reported that the amount was used for agricultural activities and agricultural investment. Around 85 per cent of beneficiaries confirmed an improvement in agricultural income and a reduction in dependence on informal credit.