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HomeBudgetBudget 2022: Up by 4.6%, Rs 68,000 crore allocated for PM-KISAN

Budget 2022: Up by 4.6%, Rs 68,000 crore allocated for PM-KISAN

The Centre has allocated Rs 68,000 crore for the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) in the Union Budget 2022-23, which is just 4.6 per cent higher than the Budget Estimates of Rs 65,000 crore for 2021-22 and only 0.74 per cent higher than the revised estimates of Rs 67,500 crore for the current financial year.

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Under the PM-KISAN scheme, the government provides Rs 6,000 to eligible beneficiary farmer families each year. The amount is transferred in their bank accounts in three equal four-monthly installments of Rs 2,000 each.

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Prime Minister Narendra Modi had released the 10th installment on January 1 this year and Rs 20,946 crore was transferred into the bank accounts of 10.09 crore farmers across the country. With this, a total Rs 1.8 lakh crore has been transferred into bank accounts of beneficiary farmers till now, according to the Union Ministry of Agriculture and Farmers’ Welfare.

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The Modi government had launched the PM-KISAN from the December-March 2018-19 period. The actual expenditure on the PM-KISAN was Rs 60,990 crore during 2020-21.

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