Union Budget 2023: Will Eligible Farmers Get Rs 8000 Annually Instead of Rs 6000? Here is What we Know

New Delhi: PM Kisan Samman Nidhi Scheme: Finance Minister Nirmala Sitharaman's Budget 2023 presentation on February 1 will be keenly watched by all and sundry. While several businesses and industries have pinned a lot of hope on Sitharaman's Budget, the farmer community is waiting with a baited breath on FM's Budget announcement. While only time till tell as to what the finance minister has in her kitty for the farmers, some media reports are saying that lakhs of Indian farmers who are entitled for a cash reward of Rs 6,000 per year under PM-KISAN Scheme might hear some pretty good news. 

According to some media sources, the government may boost the amount of the PM-KISAN scheme's annual financial benefit to farmers to Rs 8,000 from the current Rs 6000. According to additional reports, the eligible farmers will receive the Rs 8000 in 4 equal payments on their accounts.

The Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) Scheme, was launched by PM Narendra Modi in 2019, aims to provide income support to all landholder farmer families across the country with cultivable land, subject to certain exclusions.  Under the Scheme, an amount of Rs 6000 per year is released in three 4-monthly instalments of Rs 2000 each directly into the bank accounts of the beneficiaries. While lakhs of eager farmers are waiting for the disbursal of Rs 2,000 in their account, there are several farmers who are not eligible for the PM KISAN Scheme.

Who are eligible to get benefits under the PM-KISAN Scheme?

All landholding farmers' families, which have cultivable landholding in their names are eligible to get benefit under the scheme.

Who are excluded from the PM-KISAN Scheme?

The following categories of beneificiaries of higher economic status shall not be elligible for benefit under the scheme.

A. All Institutional Land holders.

B. Farmer families which belong to one or more of the following categories:

i) Former and present holders of constitutional posts

ii) Former and present Ministers/ State Ministers and former/present Members of LokSabha/ RajyaSabha/ State Legislative Assemblies/ State Legislative Councils,former and present Mayors of Municipal Corporations, former and present Chairpersons of District Panchayats.

iii) All serving or retired officers and employees of Central/ State Government Ministries /Offices/Departments and its field units Central or State PSEs and Attached offices /Autonomous Institutions under Government as well as regular employees of the Local Bodies

(Excluding Multi Tasking Staff /Class IV/Group D employees)

vi) All superannuated/retired pensioners whose monthly pension is Rs.10,000/-or more (Excluding Multi Tasking Staff / Class IV/Group D employees) of above category

v) All Persons who paid Income Tax in last assessment year

vi) Professionals like Doctors, Engineers, Lawyers, Chartered Accountants, and Architects registered with Professional bodies and carrying out profession by undertaking practices.