Union Budget 2020 India: With just two months remaining for the financial year 2019-2020 to end, the government has so far spent only over half of the money allocated under Narendra Modi’s Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) scheme.
Budget 2020-21: With just two months remaining for the financial year 2019-2020 to end, the government has so far spent only over half of the money allocated under Narendra Modi’s Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) scheme. The government has spent Rs 43,000 crore in monetary support to poor farmers, out of the total outlay of Rs 75,000 crore for the current financial year. Prime Minister Narendra Modi’s government in February 2019 introduced this programme designed to support the income of farmers and enable them to take care of their agricultural activities along with their domestic needs. Eligible beneficiaries are to be provided with Rs 6,000 a year under this scheme.
The government is expected to spend around Rs 50,000 crore in the full fiscal year 2019-20, CNBC TV18 reported, citing unidentified sources. The PM Kisan scheme has benefited around 8.16 crore families so far this fiscal year, according to the government data. The number of beneficiaries is expected to reach 9 crore families by mid-February. However, this is much less than what Minister of Agriculture and Farmer Welfare Narendra Singh Tomar had estimated. In a written reply in the Lok Sabha, Narendra Tomar had estimated the number of holdings for transfer of benefits at 14 crore till November 30. The actual number of farmers under the financial benefit of the programme, however, was 7.6 crores in November 2019.
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CNBC TV18 report added that the government saving that can be made after distribution from the total amount is more than Rs 20,000. As a result, the government is unlikely to seek higher outlay under PM Kisan in the upcoming budget. Meanwhile, Ajay Vir Jakhar, Chairman of Bharat Krishak Samaj in an interview with Bloomberg Quint had proposed to double the allocation for Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) instead of increasing outlay under PM Kisan programme as rural employment guarantee scheme covers a greater number of people and provide other benefits.