homeeconomy NewsPM KISAN scheme amount may rise to ₹8,000, surge likely in free ration scheme allocation too
PM-KISAN scheme amount may rise to ₹8,000, surge likely in free ration scheme allocation too
The government is also contemplating to provide additional support measures for the poor, farmers, youth and women in the interim Budget 2024.
The government is considering increasing allocation per farmer under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) Yojana (scheme), sources informed CNBC-TV18. The allocation per farmer is likely to surge from the existing ₹6,000 annually to ₹8,000, sources said.
The government is also considering elevating the provisions under the PM Garib Kalyan Anna Yojana.
The final decision regarding these will be taken soon, sources told CNBC-TV18.
While the PM-KISAN scheme is a central sector scheme that provides income support to all landholding farmers' families in the country, the PM Garib Kalyan Anna Yojana entails providing 5 kg of foodgrains per person per month, over and above the regular monthly National Food Security Act (NFSA) foodgrains.
The government is likely to release the 16th instalment of the PM-KISAN scheme between February 2024 and March 2024. However, there is no official announcement regarding this.
The centre released the 15th instalment of the scheme on November 15, 2023.
Meanwhile, the government is contemplating providing additional support measures for the poor, farmers, youth and women in the interim Budget 2024.
According to sources, government departments are also crafting schemes aimed at amplifying financial aid for Micro, Small, and Medium Enterprises (MSMEs).
It must be remembered that the Finance Minister, in a recent statement, reiterated that the February 1 Budget will predominantly serve as a vote on account, abstaining from any "spectacular announcements."
As per Article 116 of the Indian Constitution, a vote on account signifies an advance grant from the Consolidated Fund of India to cater to short-term expenditure needs until the commencement of the new financial year.
Traditionally, such Budgets, following the British protocol, refrain from unveiling major policy decisions. Instead, they serve as interim measures until a new government assumes power.
It's worth noting that during the tenure of an outgoing government, either an interim Budget is presented or a vote on account is sought.
The responsibility for presenting the comprehensive Budget with substantial policy decisions rests with the incoming government.
(Edited by : Amrita)
First Published: Jan 8, 2024 9:29 AM IST
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