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Big News! PM Kisan Samman Nidhi scheme budget cuts, will farmers’ money also decrease?

It was expected that in the budget, Finance Minister Nirmala Sitharaman could increase the amount received in PM Kisan Samman Nidhi Yojana (PM Kisan Samman Nidhi). But in contrast, the budget of this scheme has been cut.




PM Kisan: It was expected that in the budget, Finance Minister Nirmala Sitharaman could increase the amount received in PM Kisan Samman Nidhi Yojana (PM Kisan Samman Nidhi). But in contrast the budget of this scheme has been cut. Meaning that the scope of any increase in the amount received by the farmers has been eliminated.

PM farmer’s budget cut 

Actually, the Ministry of Agriculture could not spend its entire budget during 2020-21. With which the government cut the budget this time. In the financial year 2020-21, 75,000 crore rupees were given under the PM Kisan Samman Nidhi. While 65,000 crores have been given for this scheme in the financial year 2021-22, that is, Rs. 10,000 crores has been cut. In the current financial year, the Ministry of Agriculture has been able to spend only Rs 65,000 crore, which is why the government has cut the budget of this scheme.

No reduction in the amount received by farmers 

But this does not mean that there will be some kind of deduction in the amount of 6,000 rupees annually to the farmers. Farmers will continue to get the fixed amount of PM farmer as before. This time speculations were being made that the government can increase this amount to 9 thousand or 10 thousand rupees to make the farmers happy. Which brought more money in their hands according to the month.

Get Rs 6,000 in 3 installments

Under the Prime Minister Kisan Samman Nidhi, the Modi government provides Rs 6,000 to farmers every year. The aim of the government is to double the income of farmers. The government transfers Rs 6000 to farmers in three installments. That is, three installments of 2-2 thousand are transferred directly into the accounts of farmers every four months.

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Allocated amount could not be spent

Keeping in mind the interest of the farmers, the government of Prime Minister Narendra Modi had announced a financial assistance of Rs 6,000 to the farmers under PM Kisan Yojana in the year 2018. So far seven installments of this scheme have been released. In the financial year 2021-22, the central government announced an allocation of Rs 75,000 crore for PM Kisan Yojana. This allotted amount has not been spent in the current financial year.

Parvesh Maurya
Parvesh Maurya
Parvesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @ praveshmaurya24@gmail.com
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