Modi signs first file, authorizes release of Kisan Nidhi funds
What's the story
Prime Minister Narendra Modi approved the release of the 17th tranche of PM Kisan Nidhi funds on his first day in office on Monday.
This move is projected to benefit approximately 9.3 crore farmers and distribute around ₹20,000 crore.
PM Modi assumed office for a third consecutive term at 11:30am in his South Block office in Delhi after taking the oath as PM on Sunday.
Scheme details
PM Modi reaffirms commitment to Kisan Kalyan
The Pradhan Mantri Kisan Samman Nidhi (PM-KISAN), a central sector scheme launched in February 2019, is designed to provide financial assistance to cultivable landholding farmer families across India.
After authorizing the release of funds, he stated, "Ours is a Government fully committed to Kisan Kalyan. We want to keep working even more for the farmers and the agriculture sector in the times to come."
The scheme has already disbursed over ₹2.42 lakh crore to over 11 crore beneficiary farmer families.
Swearing-in ceremony
Modi's historic third term and Cabinet formation
Alongside PM Modi, 30 cabinet ministers, 36 Ministers of State (Mos), and five MoS (independent charge) from the Bharatiya Janata Party (BJP) and its allies also took oaths.
This marks the first time PM Modi will be leading a coalition government since his first election in 2014.
PM Modi's BJP secured an absolute majority on its own in the 2014 and 2019 Lok Sabha elections, capturing 282 and 303 seats.
Cabinet meeting
First Cabinet meeting today
The portfolios of these ministers are also expected to be announced on Monday at the first cabinet meeting.
The inaugural meeting of the third Modi cabinet will be conducted at the Prime Minister's Lok Kalyan Marg residence at 5:00pm.
PM Modi retained 34 ministers from his outgoing Cabinet, including as many as 19 with Cabinet berths.
However, Narayan Rane, Parshottam Rupala, and Anurag Thakur were dropped despite emerging victorious from their respective Lok Sabha seats.