Finance Minister Nirmala Sitharaman recently engaged in discussions with various experts as part of her pre-budget consultations, including a meeting with agricultural specialists in preparation for the forthcoming budget.
According to multiple media reports, these agricultural experts have recommended increasing the PM-KISAN instalment from Rs 6,000 to Rs 8,000 annually. They also advocated for all subsidies to be directly transferred to farmers through the Direct Benefit Transfer (DBT) system, along with a call for additional funds to be allocated to agricultural research in Budget 2024.
The PM-KISAN scheme, which was launched on February 24, 2019, aims to provide financial assistance to land-holding farmers who meet certain income criteria.
Under the PM-KISAN scheme, eligible farming families across India receive Rs 6,000 annually in three installments, paid every four months through DBT. To date, over 11 crore farmers have received payments totaling more than Rs 3.04 lakh crore. With the upcoming disbursements, the total payouts since the scheme's inception will surpass Rs 3.24 lakh crore.
Recently, Prime Minister Narendra Modi, upon beginning his third term, prioritized the release of the 17th installment under the PM-KISAN scheme, benefiting 9.3 crore farmers with a distribution of approximately Rs 20,000 crore.
This central sector initiative provides income support to all landholding farmers' families across the nation, helping them purchase agricultural inputs and meet household expenses.
The Interim Budget documents reveal that the Ministry of Agriculture has been allocated Rs 1.27 lakh crore for the 2024-25 fiscal year, a slight increase from the current fiscal year.
To register for the PM-KISAN scheme:
1. Visit the official website at pmkisan.gov.in.
2. Navigate to the "Farmers Corner."
3. Select "New Farmer Registration."
4. Choose between Rural or Urban farmer registration.
5. Enter your Aadhaar number, mobile number, state, and click 'Get OTP.'
6. Provide the OTP, complete Aadhaar authentication, and enter land and bank details as per your Aadhaar information.
To check your beneficiary status online:
1. Visit the official PM-KISAN website.
2. Access the "Beneficiary Status" page.
3. Enter your Aadhaar Number or Account Number.
4. Click 'Get Data' to view your status and payment details.
Common reasons for rejection include:
- Duplicate beneficiary names
- Incomplete KYC information
- Falling under exclusion criteria
- Incorrect IFSC code
- Closed, invalid, or unlinked bank accounts
- Missing mandatory fields
These measures and suggestions aim to improve the effectiveness and reach of the PM-KISAN scheme, ensuring better financial support and ease of access for the farmers who rely on it.
