Budget 2023: PM Kisan Samman Nidhi scheme financial aid to be raised to Rs 8,000, say sources

PM Kisan Samman Nidhi Yojana: The government will increase the amount of annual financial aid for farmers under the PM Kisan Samman Nidhi scheme in Union Budget 2023, according to sources. The amount of annual aid can be increased up to Rs 8,000 in four instalments, they said.

Currently, the government offers financial help of Rs 6,000 annually in three instalments of Rs 2,000 each to the eligible and economically weak farmers of the country under the PM Kisan Samman Nidhi scheme.

Date of release of 13th PM Kisan Samman Nidhi Yojana instalment

The 13th instalment of the PM Kisan scheme will be released in the accounts of farmers in the month of January 2023. The dates are not confirmed yet by the government. Around 13 crore farmers are set to receive the PM Kisan scheme's 13th instalment.  

 
PM Kisan Samman Nidhi Yojana: Important details you should know

Under the PM Kisan Samman Nidhi scheme, all the landholding farmer families get three equal instalments of Rs 2,000 each, at a frequency of four months.

As of Friday, a total of 12 instalments have been received by the beneficiaries under the PM Kisan scheme.

The 12th instalment of the scheme was released in May 2022.

The Union Budget is an annual financial statement that outlines a government's financial plans and policies for the upcoming fiscal year. The Budget details projected government spending and revenue collection of the next financial year, the revised estimate of the ongoing financial year, and the actual spends of the previous year. Besides, it contains any proposed changes to tax laws and policies.