The Indian government is considering increasing the amount given to farmers under the PM Kisan Yojana scheme. The current amount of ₹6,000 could be increased to either ₹8,000 in four installments or ₹9,000 in three installments. For women beneficiaries, the amount could rise to ₹10,000-12,000. The government has allocated ₹60,000 crore...
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for the scheme this year. Increasing the amount to ₹8,000 would raise the annual allocation to ₹88,000 crore, while ₹9,000 would increase it to ₹99,000 crore. The government has already disbursed 15 installments of the scheme, totaling ₹2.8 lakh crore over the past five years. While the government has strong revenue and tax collections, increasing the scheme's amount could worsen the fiscal deficit, which is targeted at 5.9% of GDP. The budget session is expected to begin on January 31. The Modi government aims to double farmers' income, and PM Kisan Yojana is the world's largest direct benefit transfer scheme. The scheme initially targeted small and marginal farmers but was later expanded to include all farmers. Farmers receive funds under the PM Kisan Samman Nidhi scheme only after state governments verify their Aadhaar number, bank account, and revenue records.