Under the scheme called Pradhan Mantri Kisan Samman Nidhi, Rs 6,000 will be transferred into bank accounts of farmers holding up to 2 hectares of land in three equal installments.
Goyal also lashed out at the UPA regime for the "culture of phone banking" at state-owned banks and said that a withdrawal of the scheme has led to more transparency.
Presenting the budget for 2019-20 in the Lok Sabha, Goyal said, "We plan to provide urban facilities in rural areas while preserving 'soul of the village'."
Presenting the Interim Budget for 2019-20 in the Lok Sabha, Goyal said India has been recognised as the brightest spot in the world in last 5 years.
Presenting the Budget for 2019-20 in the Lok Sabha, Goyal also said that current account deficit is likely to be 2.5 per cent of GDP this year.
"We have a decisive mandate to continue structured reforms. We have reversed policy paralysis," said the finance minister.
In today’s interim budget, market participants will keep an eye on whether the budget nudges the fiscal deficit target for the coming year.