Union Budget 2022! Big announcement for farmers in PM Kisan scheme

The Modi government is likely to increase the payout to farmers under the PM Kisan Scheme in the budget to Rs 8000 per annum from Rs 6000 per annum.The budget allocation to the agriculture sector will be made in the backdrop of the repeal of the three farm laws and the upcoming elections in five states Uttar Pradesh, Punjab, Uttarakhand, Goa and Manipur. Several new policy measures benefiting farmers are likely to be announced in the budget — in the wake of the sector displaying resilience during the pandemic. Speculations are rife that  allocation under the PM-Kisan scheme which benefits about 10.09 crore farmers — would be increased from Rs 65,000 crore in the last budget.

Prime Minister Narendra Modi launched the Pradhan Mantri Kisan Samman Nidhi (PM KISAN) scheme with a view to supplementing the earnings of small and medium categories farmers. This scheme coupled with the Digital India initiative has made it possible to reach the PM KISAN benefits to 12 crore farmers in the country.The Government launched the Central Sector Scheme, PM-KISAN, to provide financial assistance of up to Rs 6,000 annually to small and marginalised farmers across the country. PM Kisan is a Central Sector Scheme with 100 per cent funding from the Government of India. It has become operational from December 1, 2018. Under the scheme, income support of Rs 6,000 per year in three equal installments will be provided to small and marginal farmer families having combined landholding/ownership of up to 2 hectares. Here the definition of family for the scheme is husband, wife and minor children.

State Government and UT administration will identify the farmer families which are eligible for support as per scheme guidelines. The fund will be directly transferred to the bank accounts of the beneficiaries. There are various exclusion categories for the scheme.On May 14, 2021, the Central government paid another installment of PM Kisan Samman Nidhi to support the farmers. About Rs 19,000 crore have been transferred directly to the bank accounts of farmers, the government on May 14 announced. It will directly benefit about 10 crore farmers.This amount is proving to be of great use to these farmer families in these trying circumstances. The transfer of the amount to the bank accounts of the beneficiaries can take few days time and to ensure this farmer can check the PM-KSNY installment, status, list, etc.

What is Pradhan Mantri Kisan Samman Nidhi scheme

The Pradhan Mantri Kisan Samman Nidhi (PM KISAN) scheme was launched with the view to supplement the earnings of small and medium categories farmers. This scheme coupled with the Digital India initiative has made it possible to reach the PM KISAN benefits to 12 crore farmers in the country.

With a view to augment income of Small & Marginal Farmers, the Govt launched a Central Sector Scheme- Pradhan Mantri KIsan Samman Nidhi (PM-KISAN) to provide financial assistance of up to Rs 6,000 annually to small & marginalised farmers across the country.

PM KISAN Scheme Benefits

The PM KISAN Yojana benefits 12 crore farmers across of the country. The benefits are as follows:

The PM KISAN Yojana provides financial assistance to farmers irrespective of the size of their land holdings

The scheme provides minimum income support up to Rs 6,000 to farmers across the country. The amount is directly transferred to the bank account of the farmers.