The government is considering a significant increase in the Pradhan Mantri Kisan Samman Nidhi Yojana, potentially raising the annual support from Rs 6,000 to Rs 12,000. This proposal has been put forward by the Standing Committee, led by Parliamentary Committee Chairman Charanjit Singh Channi, who has shared these recommendations with the Modi administration.
Launched in 2019, the Pradhan Mantri Kisan Samman Nidhi Yojana aims to assist farmers in purchasing fertilizers and seeds during the harvest season, and it has been beneficial for many farmers. If all goes as planned, farmers could start receiving Rs 12,000 instead of the current Rs 6,000 in the upcoming financial year.
When was the suggestion to increase the amount to Rs 12,000 made?
Similar to last year, farmers are once again advocating for the implementation of Minimum Support Price (MSP) for their crops. On December 17, 2024, Charanjit Singh Channi introduced the first Demand for Grants of the 18th Lok Sabha concerning the Ministry of Farmers and Welfare in the Lok Sabha. In New Delhi, the Parliamentary Standing Committee on Agriculture has recommended that the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme be doubled from Rs 6,000 to Rs 12,000 annually.
Budget approval may be on the horizon
Finance Minister Nirmala Sitharaman is set to present the Union Budget for 2025-21 on February 1, 2025. During this session, she may consider the Standing Committee’s request to increase the PM Kisan Samman Nidhi amount. It’s worth noting that this isn’t the first time such a request has been made; similar demands were raised last year as well.
Farmers have received Rs 3.45 lakh crore
The Pradhan Mantri Kisan Samman Nidhi Yojana was initiated in 2019 when Piyush Goyal served as the Finance Minister. Through this scheme, farmers receive Rs 6,000 annually, distributed in three installments. To date, 18 installments have been disbursed under the PM Kisan Samman Nidhi, with the central government transferring a total of Rs 3.45 lakh crore directly to farmers.