Lower Fund Allocation for PM-Kisan in Budget 2021, How Much Money Will Farmers Receive Now

The Ministry of Agriculture did not spend its full budget in 2020-21, which has led to a reduction in the allocation in the revised estimates (RE) for FY2021-22.

The Department of Agriculture, Cooperation and Farmers’ Welfare & Department of Agricultural Research and Education that also comes under the Agriculture Ministry have been allocated Rs 1,31,531.19 crore in Union Budget 2021-22, which is lower than the current financial year’s budget estimates (BE) of Rs 1,42,762.35 crore.

The Department of Agricultural Research & Education has seen a slight increase - Rs 8,513.62 crore in BE 2021-22 from Rs 8,362.58 crore in BE 2020-21 but Agriculture, Cooperation and Farmers’ Welfare Department has seen a reduction of around Rs 10,000 crore in the budget - from Rs 1,34,399.77 cr in budget estimate 2020-21 to Rs 1,23,017.57 crore in BE 2021-22.

The huge reduction in the agri ministry’s budget is because of lower spending under PM-Kisan yojana than the allocated sum. The Centre had allocated Rs 75,000 cr for PM-Kisan Samman Nidhi yojana in 2020-21. However, the amount was cut to Rs 65,000 crore in revised estimate 2020-21 and now has been retained at the same level for FY2021-22.

After the announcement of reduction in PM Kisan funds, now farmers are worried about how much money they will receive every year.

How much money will farmers get under PM-Kisan now 

According to the media reports, there will not be any reduction in the installment of PM Kisan yojana, which means that the farmers will get as much money as they used to receive. They will continue to get Rs 6000 annually as before.

To recall, under Pradhan Mantri Kisan Samman Nidhi Yojana, the government provides financial help of Rs. 6000 per year to the farmers in the country. The amount is disbursed in three equal installments of Rs. 2000 each. To take benefit of the scheme, farmers have to register themselves under PM-Kisan. PM Kisan registration can be done online as well as offline.