Union Budget 2024: Finance Minister Nirmala Sitharaman will present this year’s budget on July 23. It is expected that the Finance Minister will make many big announcements for farmers in this budget. The government can make special provisions on PM Kisan Samman Nidhi Yojana, Kisan Credit Card and PM Kusum Yojana. After the persistent demand of farmer unions for legal guarantee of MSP and the announcement of farmer unions in Punjab, more funds may be provided in the budget to buy more crops at the support price.
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The amount of PM Kisan may increase
It is believed that this ambitious scheme of the Modi government has helped the BJP a lot in making inroads among the farmers. The amount of the PM Kisan Samman Nidhi Yojana, launched in 2019, has not increased even once till date. Currently, farmers are getting Rs 6,000 annually. In the budget, the government can increase this amount to Rs 8,000 annually. At the same time, the loan limit of Kisan Credit Card (KCC) can be increased from Rs 3 lakh to Rs 5 lakh.
Middle class will get relief! From tax exemption to pension…this announcement is possible in the budget
Subsidy expected to increase
Under the PM-Kusum scheme, the government is providing solar pumps to farmers at a subsidy of 75 percent. The PM-Kusum scheme has proved to be a boon for small farmers, who no longer have to use expensive diesel to cook their crops. The government may also allow the use of solar systems installed under the PM-Kusum scheme for domestic non-agricultural purposes. The subsidy under this scheme is expected to increase.
