Farmers Seek Increase in PM-Kisan Nidhi to ₹12,000 Ahead of Budget

During a pre-budget meeting with Finance Minister Nirmala Sitharaman, farmer representatives urged the government to enhance the PM-Kisan Nidhi annual support to ₹12,000, citing the rising costs of agricultural inputs and the financial struggles faced by small and marginal farmers. The meeting aimed to gather stakeholder feedback for the Union Budget 2024-25.

Farmers Highlight Economic Challenges

Under the existing PM-Kisan Nidhi scheme, farmers receive ₹6,000 per year in three equal installments. However, representatives at the meeting emphasized that the current amount is insufficient to meet rising agricultural costs. They proposed doubling the payout to ₹12,000 to provide meaningful financial relief to farmers, enabling them to invest in better inputs and sustain their livelihoods.

The farmer groups also highlighted issues such as inadequate irrigation infrastructure, high fertilizer prices, and a lack of access to affordable credit as significant challenges faced by the agricultural community.

Calls for Comprehensive Support

In addition to the increase in PM-Kisan Nidhi, farmer organizations requested a reduction in GST on agricultural equipment and inputs, enhanced crop insurance coverage under the Pradhan Mantri Fasal Bima Yojana, and measures to stabilize prices for essential crops. They also sought greater allocation for rural infrastructure, including better connectivity to markets and support for cold storage facilities.

“The government needs to focus on increasing farmers’ incomes while ensuring they have the necessary resources to improve productivity,” said a farmer representative during the meeting.

Budget Expectations

The pre-budget discussions reflect the growing demand for a farmer-centric approach in the upcoming budget. Experts suggest that enhanced financial support under schemes like PM-Kisan Nidhi could boost rural consumption and positively impact the broader economy.

As the Finance Ministry prepares the Union Budget, it remains to be seen how the government addresses these demands to balance fiscal constraints with the needs of the agricultural sector. The decisions taken could have a significant impact on the lives of millions of farmers and the nation’s economic growth trajectory.