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The scheme, Namo Shetkari Mahasanman Yojana, was approved at a Cabinet meeting chaired by Chief Minister Eknath Shinde here.
Talking to reporters after the meeting, Shinde said the amount was in addition to Rs 6,000 paid to farmers in instalments per year by the Centre under the Pradhan Mantri Kisan Samman Nidhi Yojana. More than one crore cultivators will benefit from the state government’s scheme, Deputy Chief Minister Devendra Fadnavis said.
Fadnavis, who is also the state’s finance minister, had announced the scheme in the 2023-24 budget which he presented in the Assembly in March.