Union Finance Minister Nirmala Sitharaman is set to unveil the Union Budget on February 1, 2025. There’s a lot of buzz around this budget, not just among everyday folks but also among business owners, farmers, and employees.
Experts believe this year’s budget could feature significant announcements regarding key government programs aimed at the middle class. We might see new benefits rolled out for initiatives like the PM Awas Yojana and PM Kisan Samman Nidhi Yojana.
PM Awas Yojana: Potential for increased subsidies and easier loan access
The Pradhan Mantri Awas Yojana is a crucial program for middle and lower-income families, allowing them to build affordable homes. This time around, we might see an increase in the subsidy amount allocated for this scheme.
What benefits could be on the rise?
1. Higher subsidies: The government might boost the housing subsidy amount.
2. Easier home loans: Banks and financial institutions could offer more accessible terms for home loans.
3. New applicant inclusion: Some requirements may be relaxed for new applicants of the PM Awas Yojana.
PM Kisan Samman Nidhi Yojana: Possible doubling of annual grants
Currently, the PM Kisan Samman Nidhi scheme provides farmers with Rs 6,000 annually. However, there’s a chance this could be increased to Rs 12,000.
What changes could we see?
1. Doubling the subsidy: The annual financial aid for farmers might rise from Rs 6,000 to Rs 12,000.
2. Direct transfers: Funds from this scheme could be sent straight to farmers’ bank accounts via Direct Benefit Transfer (DBT).
3. More beneficiaries: New farmers might be eligible to join the scheme moving forward.