The Union Cabinet on Friday approved extension of the PM-KISAN scheme for the next five years till the 2030-31 fiscal with an outlay of Rs 3,15,614 crore.Launched on February 24, 2019, Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) is a centrally sponsored scheme aimed at providing assured income support to farmers nationwide.Under the scheme, each eligible farmer family receives annual financial assistance of Rs 6,000. This is disbursed in three equal instalments of Rs 2,000 through the Direct Benefit Transfer (DBT) mechanism into Aadhaar-seeded bank accounts.Briefing the media, Information & Broadcasting Minister Ashwini Vaishnaw said the Cabinet has extended the PM-KISAN scheme for five years till 2030-31. The total outlay stands at Rs 3,15,614 crore.