PM Kisan Yojana: Good news for farmers. The central government has revealed a substantial relief package for millions of farmers nationwide. The Union Cabinet has given the green light for the Pradhan Mantri Kisan Samman Nidhi Yojana to continue for an additional five years. This initiative will now be active from the financial years 2026-27 to 2030-31. The government has allocated a budget exceeding Rs 3.15 lakh crore for this program, ensuring that eligible farmers will keep receiving financial support as they have in the past.
Under the PM Kisan Yojana, qualifying farmer families are granted financial aid of Rs 6,000 each year. This sum is deposited directly into the farmers’ bank accounts in three equal installments of Rs 2,000, facilitated through Direct Benefit Transfer (DBT). The timing of these payments aligns with the crop cycle, providing timely financial support during sowing and crop preparation.
The government plans to invest ₹315,614 crore in this scheme over the next five years. Officials assert that this initiative will offer farmers a reliable income and help them manage essential farming costs. It is anticipated to bolster the financial stability of farmers.
Farmers will receive timely assistance for their agricultural needs. The government indicates that the scheme’s payments are disbursed when farmers require funds the most for purchasing seeds, fertilizers, pesticides, and other farming essentials. This alleviates the cash flow issues farmers face and reduces their reliance on high-interest loans. The government highlights that the majority of the scheme’s beneficiaries are small and marginal farmers.
To date, over Rs 4.47 lakh crore has been directly transferred to farmers’ accounts through 23 installments of the PM Kisan Yojana. According to an assessment by NITI Aayog, this scheme has significantly enhanced the income of many farmers and decreased their reliance on informal loans. The decision to extend the PM Kisan Yojana for another five years is viewed as a significant relief for farmers.