The first installment of the Pradhan Mantri Kisan Samman Nidhi scheme (PM-KISAN) will be disbursed on 24 February, which will also be the day of launch of the scheme by Prime Minister Narendra Modi, according to a PTI report citing a senior BJP leader.

The installment of Rs 2,000, of the Rs 6,000 per year support guaranteed under the Kisan scheme for marginal and small farmers, will be credited to their accounts on the day of launch that is proposed to take place at the Kisan Maha Adhiveshan event at Fertilizer Ground in Gorakhpur, said BJP zonal vice president Satyendra Sinha to PTI.

The two-day farmers' conclave will be inaugurated by BJP president Amit Shah on 23 February.

Under the scheme, farmers with cultivable land up to 2 hectares will be provided direct cash support of Rs 6,000 per year in three equal installments. Also Read: PM Kisan Samman Nidhi Scheme Eligibility And Requirements

Sinha, however, did not mention the number of farmers that will receive the benefit on the day of launch.

An Economic Times report citing a source said that the farmers that are enrolled and verified under the scheme by 20 February will be receiving the first installment on 24 February.

The transfer related to the first installment will continue till 31 March as data gets updated, the report further said.