Budget 2023 expectation: PM Kisan Samman Nidhi Yojana installment likely to be increased to Rs 8000

The central government intends to shortly release the 13th instalment of the PM Kisan Samman Nidhi Yojana while lakhs of farmers are waiting. The Government of India introduced the PM Kisan Samman Nidhi Yojana, a central sector scheme, in 2019 with the goal of supporting the country's farmers financially. Under this scheme, the government offers small and marginal farmers with up to 2 hectares of cultivable land an annual financial aid of Rs 6,000. Three equal payments of Rs 2,000 each are made for financial aid.

Budget 2023 expectation:

In this regard, there is some good news for the farmers who would benefit from the impending budget for 2023. In the budget for 2023, the central government might this time give the farmers a sizable gift. According to a report by Zee Business, Finance Minister Nirmala Sitharaman is expected to raise the PM Kisan Samman Nidhi scheme's monthly instalment amount for farmers.

The Rs 6,000 instalment amount is expected to be raised to Rs 8,000, and the money handed to the farmers is probably going to be split into 4 payments of Rs 2,000 each. The instalment amount is currently released every four months.

13th instalment of the PM Kisan Samman Nidhi Yojana

The 13th instalment of the PM Kisan Samman Nidhi Yojana (Pradhan Mantri Kisan Samman Nidhi) will soon receive their next payment of Rs 2,000. Although the government has not yet issued any notice, it was anticipated that the instalment will be released on January 23rd. Farmers who are qualified for the instalment can confirm their eligibility by looking up their names on the PM Kisan Portal.