PM Kisan Yojana: Scheme Amount May Increase to Rs 8,000 in the Budget

Key Highlights

• PM Kisan Yojana amount may increase from Rs 6,000 to Rs 8,000 annually.
• The Finance Minister met agricultural experts before the budget.
• Over Rs 3.04 lakh crore has been paid to 11 crore farmers so far.
• Rs 1.27 lakh crore allocated to the Agriculture Ministry in interim budget 2024-25.
• Additional financial assistance is provided in Madhya Pradesh and Maharashtra.
• Rajasthan farmers receive an extra installment through state schemes.

The Indian government is making efforts to increase farmer’s income. One of these efforts involves the PM Kisan Samman Nidhi Yojana (PM Kisan Yojana). Before the Union Budget release, there are talks that the Central Government may increase the amount farmers receive under this scheme from Rs 6,000 to Rs 8,000 annually.

Finance Minister Meets Agricultural Experts

Recently, Finance Minister Nirmala Sitharaman met with agricultural experts ahead of the upcoming budget. During this meeting, experts urged the government to increase the PM Kisan Yojana amount. They also requested more funds for agricultural research and direct subsidy transfers to ensure farmers receive money directly in their accounts.

Significant Payments Made to Farmers

Since the start of PM Kisan Yojana, farmers have been receiving Rs 6,000 each year in three installments of Rs 2,000 every four months. So far, over Rs 3.04 lakh crore has been paid to more than 11 crore farmers. With the upcoming installment, the total payments under this scheme will exceed Rs 3.24 lakh crore. Recently, Prime Minister Modi released the 17th installment, transferring Rs 20,000 crore to about 9.3 crore farmers.

Also Read: PM Kisan Yojana: 17th Installment of 2000 Rupees Reaches 9.26 Crore Farmers

Budget Allocation for PM Kisan Yojana

In the interim budget for 2024-25, Rs 1.27 lakh crore has been allocated to the Ministry of Agriculture. This is slightly more than the current financial year’s allocation. It is expected that the full budget, to be released this month, may include an increase in the PM Kisan Yojana amount and budget. In previous years, requests to increase the scheme’s amount have been made but not fulfilled. This year, there is strong hope that the amount and budget will be increased.

Additional Financial Assistance in States

Farmers in some states receive additional financial assistance on top of the PM Kisan Yojana. In Madhya Pradesh, the Chief Minister Kisan Kalyan Yojana provides farmers with an extra Rs 6,000 annually. Similarly, in Maharashtra, the Namo Shetkari Yojana offers an additional Rs 6,000 per year. Thus, farmers in these states receive Rs 12,000 annually from both state and central schemes combined.

Extra Installment for Farmers in Rajasthan

In Rajasthan, farmers receive an extra installment under the PM Kisan Yojana. Besides the three installments from the central government, the state government provides an additional installment through Chief Minister Kisan Samman Nidhi Yojana, giving farmers Rs 1,000, 500, and 500 in three installments. Chief Minister Bhajan Lal Sharma has already released the first installment.

How to Register for PM Kisan Yojana

If you are eligible for the PM Kisan Yojana but have not yet registered, you can follow these steps:

1. Visit the official PM Kisan Yojana website: https://pmkisan.gov.in/
2. Click on the "Kisan Corner" option.
3. Select "New Registration."
4. Choose between rural or urban farmer registration.
5. Enter your Aadhaar number, mobile number, and state.
6. Click on "Get OTP."
7. Complete Aadhaar authentication and enter land and bank details.

How to Check Beneficiary Status and Application Status

To check your beneficiary status or application status:

1. Visit the official PM Kisan Yojana website.
2. Go to the "Beneficiary Status" page.
3. Enter your Aadhaar number or account number.
4. Click on "Get Data" to view your status and payment details.

This will display your application status and payment details.

Also Read: Good News: Farmers to Get Agricultural Loans at Lower Interest Rates

CMV360 Says

The PM Kisan Yojana may see an increase in its annual amount from Rs 6,000 to Rs 8,000, aiming to boost farmers' incomes. With significant funds already allocated and hopes high for further increases in the upcoming budget, the scheme continues to provide crucial financial support to millions of farmers across India.