The government may increase the annual support to farmers in the country under its flagship PM Kisan scheme, says a media report by business daily The Financial Express. According to the report, a proposal is under consideration in the Prime Minister Office to increase the annual PM Kisan subsidy amount from Rs 6,000 in a year currently to up to Rs 9,000 annually.
The move is aimed at boosting consumption and providing farmers in India some cushion against persistently high levels of inflation. The decision will cost the government exchequer an additional burden of up to 20,000-Rs 30,000 crore, the report added, citing official sources.
For the uninitiated, under the PM Kisan Samman Nidhi Yojana, the Centre provides Rs 6,000 annual subsidy to eligible farmers in three equal instalments of Rs 2,000. Since the start of this direct benefits transfer scheme in 2019, the government has so far released 14 instalments, helping 8.5 crore families. To date, the Centre has released Rs 2.5 lakh crore in the bank accounts of eligible farmers under the scheme. The PM Kisan scheme is one of the largest direct benefits transfer schemes in the world.
It was earlier expected that the government might increase the support amount under the PM Kisan scheme to Rs 8,000 when Finance Minister Nirmala Sitharaman presented the Budget 2023-24 on February 1, 2023.
Who is eligible for the PM Kisan subsidy?
The following are eligible for the PM Kisan subsidy:
- Land-owning farmers families, with cultivable land
- Farmers from urban as well as rural areas
- Small and marginal farmers families
A third of 14 crore farmer families in India are tenants with no land ownership. Such farmers are not eligible to receive the PM Kisan benefits. The report also said that the agriculture ministry is creating a database for faster identification of PM Kisan beneficiaries.
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