In a bid to alleviate the economic hardships faced by farmers, the Pradhan Mantri Kisan Samman Nidhi Yojana (PM Kisan Yojana) is under consideration for a significant 50% increase in benefits. This potential adjustment, aiming to enhance farmer support, could elevate the current benefits of Rs 2,000 to Rs 3,000. The proposal’s impact coincides with impending state elections in Rajasthan, Madhya Pradesh, Chhattisgarh, and Telangana. Although the government is yet to finalize the timeline for implementing the enhanced benefits, a decision could be made prior to these elections, potentially benefiting numerous farmers.
PM Kisan Yojana Eyes 50% Boost in Benefits
Currently, the PM Kisan Samman Nidhi Yojana provides farmers with Rs 6,000 annually, disbursed in three installments of Rs 2,000 each throughout the year. The proposal to increase this amount is presently before the Prime Minister’s Office. If approved, it could place an additional financial burden of Rs 20,000-30,000 crore on the government annually. However, specifics regarding the commencement date for the increased benefits remain undecided.
Potential Increase to Rs 3,000 from Current Rs 2,000 Benefits
The PM Kisan Yojana holds certain eligibility criteria. It stipulates that both spouses cannot avail benefits simultaneously, and any tax-paying individual within the family is ineligible. Likewise, farmers who own land, rent it from others, or hold constitutional positions are excluded from the scheme’s benefits. The potential adjustment in benefits underlines the government’s ongoing commitment to supporting farmers and improving their economic conditions.