Budget 2023-24: PM Kisan Samman Nidhi Amount to be Raised to Rs 8,000 per year

Union Budget 2023-24: The Government is planning to increase the amount under PM Kisan yojana from previous Rs. 6000 to Rs 8000 per year, in the upcoming Budget 2023.

Sources told media that the enhancement in the PM Kisan amount will initially be for one year and would be reviewed afterward.

An official said the hike in PM Kisan money will support consumption as well as rural demand. He added that although there were suggestions to double the amount, the Centre’s focus on reducing the revenue expenditure and inflationary pressures may limit the increment.

Enhancement of Rs 2,000 per farmer would require an annual additional cost of Rs 22,000 crore to the government.

Under Pradhan Mantri Kisan Samman Nidhi Yojana, government provides Rs 6000 annually to farmers in three equal instalments of Rs. 2000 each. In the past three years, monetary assistance of over Rs 2 trillion has been provided to eligible farmers under the scheme. The Centre allocated Rs 68,000 crore for PM Kisan scheme in the current fiscal.

PM Kisan 13th instalment Update

According to media reports, the government will release the 13th instalment of PM Kisan Samman Nidhi Yojana this month (January). However, it has not announced any particular date for this. Earlier several media reported that PM Kisan 13^th installment will be released on January 23 and now a few claim that the financial assistance could be disbursed this week.

17 lakh farmers of Bihar will not get money

In Bihar, 16.47 lakh farmers have not completed their e-KYC hence the agriculture department has asked them to do it by January 28. Those who do not complete the e-KYC will be deprived of the 13th installment. To get e-KYC done, farmers can visit PM Kisan official website or reach out to the nearest Common Service Center (CSC). By just paying a nominal amount, they can get their e-KYC updated.

Chief Agriculture Officer, Amritsar, Dr Jatinder Singh Gill also made it clear that beneficiaries who fail to comply with the guidelines will not be given the next instalment of PM Kisan scheme.