The central government is considering increasing the amount given to farmers under its flagship Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) Yojana,ahead of the general elections scheduled for April–May 2024, according to a report by CNBC-TV18 citing sources. It added that the allocation per farmer is likely to surge from the existing Rs 6,000 a year to Rs 8,000 a year.
According to the report, apart from PM Kisan Yojana, the Modi government is also considering raising provisions under the PM Garib Kalyan Anna Yojana, and the final decision to which will be taken soon.
While the PM-KISAN scheme is a central sector scheme that provides income support to all landholding farmers’ families in the country, the PM Garib Kalyan Anna Yojana entails providing 5 kg of foodgrains per person per month, over and above the regular monthly National Food Security Act (NFSA) foodgrains.
The government is likely to release the 16th instalment of the PM-KISAN scheme between February 2024 and March 2024. However, there is no official announcement regarding this.
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The centre released the 15th instalment of the scheme on November 15, 2023.
Meanwhile, the government is contemplating providing additional support measures for the poor, farmers, youth and women in the interim Budget 2024.
According to sources, government departments are also crafting schemes aimed at amplifying financial aid for Micro, Small, and Medium Enterprises (MSMEs).
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It must be remembered that the Finance Minister, in a recent statement, reiterated that the February 1 Budget will predominantly serve as a vote on account, abstaining from any “spectacular announcements.”
As per Article 116 of the Indian Constitution, a vote on account signifies an advance grant from the Consolidated Fund of India to cater to short-term expenditure needs until the commencement of the new financial year.
Traditionally, such Budgets, following the British protocol, refrain from unveiling major policy decisions. Instead, they serve as interim measures until a new government assumes power.
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What Is PM-KISAN Yojana?
The PM Kisan scheme was launched just before the 2019 general election. As of now, the 15th instalment of the scheme has been transferred to eligible farmers. Under the PM-KISAN scheme, eligible farmers get 3 instalments of Rs 2,000 in a year, which is Rs 6,000. The three instalments are April-July, August-November and December-March every year. Funds are transferred directly to the bank accounts of the registered farmers.
Possible Increase in PM-KISAN Allocation:
Sources suggest a contemplation by the government to raise the annual allocation per farmer under PM-KISAN from ₹6,000 to ₹8,000. This decision, if implemented, could significantly benefit farmers nationwide.
Interim Budget 2024:
The government is also contemplating additional support measures for various sectors, including the poor, farmers, youth, and women. The interim Budget might witness schemes aimed at amplifying financial aid for Micro, Small, and Medium Enterprises (MSMEs).
Future Prospects:
As per the Finance Minister’s recent statement, the February 1 Budget is expected to primarily serve as a vote on account, focusing on short-term expenditure needs. This aligns with Article 116 of the Indian Constitution, indicating an advance grant from the Consolidated Fund of India.
However, it’s crucial to note that such interim Budgets traditionally avoid major policy decisions and serve as a transitional measure until a new government takes charge. The responsibility for presenting a comprehensive Budget with substantial policy decisions rests with the incoming government.
What Is Garib Kalyan Yojna?
The PM Garib Kalyan Anna Yojana scheme, which was launched during the COVID period, providing 5 kg of foodgrains per person per month, over and above the regular monthly National Food Security Act (NFSA) foodgrains.
PM-KISAN Yojana Installment Date:
The Centre is likely to release the 16th instalment of the PM-KISAN scheme between February 2024 and March 2024. However, there is no official announcement regarding this. The centre released the 15th instalment of the scheme on November 15, 2023.
PM Kisan Yojana: How to Check Beneficiary Status Online
- First you have to visit official website, pmkisan.gov.in.
- Then on the home page, go to the farmers corner and click on the option that reads as “Beneficiary Status.”
- Enter the details and hit the ‘Get Data’ option.
- After this, the PM KISAN Scheme status will be displayed on your computer screen.
- Download, save, and print a copy for reference.
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