Farmers can get a big gift!
PM Kisan Yojana: The eyes of crores of farmers of the country are fixed on the general budget presented in the Parliament every year. Amidst the rising costs of farming and inflation, farmers always expect some additional relief from the government. If the latest news is to be believed, the upcoming Union Budget may prove to bring a smile on the faces of farmers. The market of discussions is hot that the Central Government is planning one of its most ambitious schemes, ‘Prime Minister Kisan Samman Nidhi Yojana’ (PM Kisan Yojana) is considering a huge increase in the amount. According to media reports, if everything goes according to plan, the annual assistance received by farmers may increase from Rs 6,000 to Rs 9,000 or even more.
Treasury may open for farmers
Even though the general public hears the budget speech on February 1, the preparations behind it begin months in advance. The central government has started the long and complex process of preparing the budget for the upcoming financial year 2026-27. This is a multi-level process, which is being led by the Ministry of Finance.
The round of meetings starts from August-September. In this, consultation is held with NITI Aayog, concerned ministries, representatives of states and all the stakeholders of the agriculture sector. This ‘Annual Financial Statement’, prepared under Article 112 of the Constitution, decides where and how the government will spend the public money in the coming year. This time, farmers can directly benefit from the suggestions received during the budget making process and the increased timeline. The government has enough time to do the groundwork and take advice from all sections, which has raised hopes that some big announcements can be made for the agriculture sector.
What is the government’s plan?
Ever since the PM Kisan Samman Nidhi Yojana was started, farmers are being given financial assistance of Rs 6,000 annually. This amount reaches the farmers’ bank accounts directly in three equal installments. Although the prices of fertilizers, seeds and diesel have increased in the last few years, there has been no change in the amount of Samman Nidhi.
Even in the last budget, there was speculation that the government would increase this amount, but it did not happen then. Now once again news is coming from media reports that this time the government is in a mood to increase the amount. It is estimated that the annual amount can be increased from Rs 6,000 to Rs 9,000. If such a decision is taken, it will be a big relief for marginal and small farmers facing the brunt of inflation. In case of Rs 9,000, farmers can get Rs 3,000 in every installment instead of Rs 2,000.