PM Kisan Latest Update: Good News For Farmers- Now Farmers to Get Rs. 8000 Instead of Rs. 6000, Know More Here
PM Kisan Latest Update: Farmers to Get Rs. 8000 Instead of Rs. 6000 : The Modi government is likely to increase the payout to farmers under the PM Kisan Scheme in the budget to Rs 8000 per annum from Rs 6000 per annum. Sources said several policy measures benefiting farmers are likely to be announced in the budget — in the wake of the sector displaying resilience during the pandemic.
The budget allocation to the farming community will be made in the backdrop of the repeal of the 3 agriculture laws and the upcoming elections in 5 states — Punjab, Uttar Pradesh, Uttarakhand, Manipur and Goa. Sources informed that several policy measures benefiting the farmers are expected to be announced in the budget 2022.
It is expected that the allocation under Government’s most ambitious scheme – Pradhan Mantri Kisan Samman Nidhi Yojana, which benefits more than 10 crore farmers will be increased from Rs 65,000 crore in the last budget.
Finance Minister Nirmala Sitharaman is set to announce the Union Budget 2022
Finance Minister Nirmala Sitharaman is set to announce the Union Budget 2022 on February 1. Finance minister Nirmala Sitharaman may also announce the setting up of a panel on MSP (minimum support price) for all crops, a key demand of the agitating farmers. Prime Minister Narendra Modi, while announcing the repeal of the farm bills, had announced a committee on MSP.
WHAT IS PM KISAN SAMMAN NIDHI YOJANA?
The Pradhan Mantri Kisan Samman Nidhi Yojana (PM-Kisan Yojana) is a government scheme through which, all small and marginal farmers will get up to Rs 6,000 per year as minimum income support. This 75,000-crore scheme aims to cover 125 million farmers, irrespective of the size of their landholding in India. The PM Kisan Yojana came into effect from December 1, 2018. It was launched by prime minister Narendra Modi-led government.
- Landholding farmers’ families with cultivable landholding in their names can apply under this scheme
- Farmers from both the urban and rural areas
- Small and marginal farmers families
- Institutional landholders
- Present or retired officers and employees of state/central government as well as PSUs and government autonomous bodies.
- Beneficiaries with higher economic status are not eligible.
- Those who pay income tax
- Farmer families holding constitutional posts
- Professionals like doctors, engineers and lawyers
- Retired pensioners with a monthly pension of over Rs 10,000
- Farmers have to approach the local revenue officer (patwari) or a nodal officer (nominated by the state government)
- The Common Service Centres (CSCs) have also been authorized to do the registration of the farmers for the Scheme upon payment of fees
Government is offering a 2% interest subsidy to ensure that farmers get short-term loans:
Moreover, the government is offering a 2% interest subsidy to ensure that farmers get short-term loans of up to Rs 3 lakh at an effective rate of 7% per annum. An extra incentive of 3% is given to the farmers for quick repayment of loans within the due date, making the effective interest rate 4%.
It is assumed that the Modi government can increase the interest subsidy and also additional incentives to ensure the timely payment of the loans.
CLICK ON THE BELOW PROVIDED LINKS TO FOLLOW KASHMIR NEWS ON:
OUR APPLICATION IS ALSO LIVE ON GOOGLE PLAY STORE, DOWNLOAD OUR MOBILE APPLICATION AND GET LATEST UPDATES ON YOUR MOBILE SCREEN