In a prelude to the upcoming general elections in April–May 2024, the Central government is contemplating a raise in the allocation under its flagship Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) Yojana. Sources suggest the amount transferred to farmers annually may surge from the existing Rs 6,000 to Rs 8,000, as reported by CNBC-TV18.
The PM-KISAN scheme, a central sector initiative, provides income support to all landholding farmers’ families nationwide. Additionally, the government is deliberating an enhancement of provisions under the PM Garib Kalyan Anna Yojana, providing 5 kg of foodgrains per person per month beyond the regular monthly National Food Security Act (NFSA) foodgrains.
The 16th instalment of the PM-KISAN scheme is expected to be released between February and March 2024, aligning with the government’s focus on welfare measures in the interim Budget 2024. The Finance Minister has indicated that the February 1 Budget will primarily serve as a vote on account, emphasizing short-term expenditure needs until the commencement of the new financial year.
While additional support measures for the poor, farmers, youth, and women are under consideration, the Finance Minister clarified that the upcoming Budget will abstain from major policy announcements, adhering to the tradition of interim measures during the tenure of an outgoing government.
