Big News! Modi Government Likely to Increase PM-Kisan Money in Budget 2021

Prime Minister Narendra Modi Government will possibly increase the amountof Pradhan Mantri Kisan Samman Nidhi Yojana in the Union Budget 2021, which will be introduced by Finance Minister Nirmala Sitharaman on 1^st February, in the midst of the ongoing agitation against farm laws. 

Quoting sources, an English news channel announced that the central government wants to give farmers a message that it is 'aware of their condition' and that the 'response to their distress' is the PM-Kisan Yojana. 

Many recommendations about the agricultural sectors have been received by the government, including an improvement in the current annual sum under the PM-Kisan scheme. The government is very optimistic about this proposal, considering the revenue burden,' India Today quoted an official from the Finance Ministry as saying. 

What is PM Kisan Samman Nidhi Yojana

A central government scheme aimed at financially supporting small and marginal farmers is the Pradhan Mantri Kisan Samman Nidhi Yojana (PM-Kisan Yojana). Under this scheme, the Centre provides beneficiaries with Rs 6,000 a year payable in three consecutive four-monthly instalments. 

The Prime Minister announced the seventh tranche of Rs 18,000 crore from this scheme in December last year. PM Modi said that nearly Rs 1.10 lakh crores financial assistance was offered by the Center under PM KISAN when launching the seventh installment of the scheme. 

‘It has been ensured through technologies that there are no gaps in the system. 'I'm happy that farmers across India are benefiting from this framework,' the official said. 

Union Budget 2021

On Monday, Finance Minister Nirmala Sitharaman will present the 2021 Union Budget with expectations of reviving industries hit by the COVID-19 pandemic. Prime Minister Modi said that the 2021 Union Budget will be one of the 'four to five mini-budgets announced in 2020' by the Minister of Finance, expressing hopes of resuscitating the Indian economy.