The Maharashtra government sanctioned the disbursement of Rs 1,720 crore to farmers as the first tranche of funds under the Namo Shetkari Mahasanman Nidhi Yojana. A Government Resolution (GR) to this effect was issued by the state Agriculture Department which stated the amount will be deposited in the bank accounts of cultivators.
Chief Minister Eknath Shinde had said the amount (Rs 6,000 to be paid to farmers annually by the state) is in addition to Rs 6,000 paid in instalments per year by the Centre under the Pradhan Mantri Kisan Samman Nidhi Yojana. Though the Namo Shetkari Mahasanman Nidhi Yojana was announced in the 2023-24 budget, the funds were not disbursed.
A Cabinet meeting in May authorised this new financial plan, under which more than 1 crore farmers in the state will receive Rs 6,000 annually. Deputy Chief Minister Devendra Fadnavis, who at the time held the finance portfolio, introduced the programme in the 2023–24 budget.