Budget 2021: Big announcement? PM-KISAN samman nidhi yojana scheme list benefits may be hiked from Rs 6,000 to Rs 10,000

Budget 2021: Big announcement? PM-KISAN samman nidhi yojana scheme list benefits may be hiked from Rs 6,000 to Rs 10,000

In what could be seen as the effort of the Modi government of trying to fulfill its promise of doubling farmers income by 2022-23, it is highly likely that the farmers might see an increase in the amount disbursed among them under Pradhan Mantri Kisan Samman Nidhi Yojna (PM-KISAN). This could be also seen as the Prime Minister Narendra Modi’s government trying to reach out to protesting farmers. Ever since the Centre introduced three agricultural laws last year, it is speculated that this time the government has a complete focus on farmers. In the Budget 2021, Finance Minister Nirmala Sitharaman is most likely to introduce another perk to the farmers, where the amount under the PM-KISAN will be bumped up from Rs 6,000 a year to Rs 10,000 a year, reported DNA.

Preparations for the Budget 2021 presentation have started. Due to the three agricultural laws, in the midst of the farmers’ movement on the Delhi border, the government can make several big announcements in the interest of farmers in the budget.

Experts believe that Finance Minister Nirmala Sitharaman may take a decision keeping interest of the farmers in mind in the upcoming budget with a view to please the farmers who are protesting against the agricultural law.

The farmers have demanded that the annual farming amount is insufficient for agriculture and should increase. The budget estimate (BE) for the financial year 2019-20 was around Rs 1.51 lakh crore, which may go up to Rs 1.54 lakh crore in the next financial year 2021-22.

It is expected that under the Kisan Samman Nidhi scheme (PM-KISAN), the central government can increase the existing annual installment from Rs 6,000 to Rs 10,000.

The government gives Rs 6,000 annually to farmers, under which the farmers receive Rs 2,000 every three months. Farmers say that the amount received under the PM-KISAN scheme is 500 rupees per month, which is quite low. In such a situation, for farmers with more land, six thousand rupees is very less assistance.

The allocation for rural development has also been increased to Rs 1.44 lakh crore in 2020-21 as compared to Rs 1.40 lakh crore in 2019-20. Under the PM Agricultural Irrigation Scheme, the funds increased from 9,682 crores in 2019-20 to Rs 11,127 crore in 2020-21, and under PM Crop Insurance Scheme the fund increased from Rs 14,000 crore in 2019-20 to 15,695 crore in 2020-21.

This scheme came into action on December 1, 2018. Under this, the central government sends six thousand rupees annually to the farmers’ account as an installment of two thousand rupees thrice a year. According to the PM-Kisan Samman Nidhi website, there are 11.47 crore beneficiaries of this scheme.

 

Source:- zeebiz

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