The Maharashtra cabinet on Tuesday gave its nod to the Namo Shetkari Mahasanman Yojana under which Rs 6,000 a year will be paid to each of more than one crore farmers in the state.
This amount will be in addition to the Rs 6,000 paid by the Union government under the Pradhan Mantri Kisan Samman Nidhi Yojana, Chief Minister Eknath Shinde told reporters after the cabinet meeting.
More than one crore farmers will benefit from the state government's scheme, Deputy Chief Minister Devendra Fadnavis said.
Mr Fadnavis, who is also the state's finance minister, had announced the scheme in the 2023-24 budget speech in March.
The money will be deposited in the bank accounts of farmers in three instalments of Rs 2,000 during April to July, August to November and December to March.
The cabinet also approved another proposal where farmers can avail of crop insurance by paying only one rupee towards premium while rest of the amount will be paid by the government.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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