Budget may provide 1 additional installment under PM-KISAN

The central government may announce one additional instalment under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme in the Union Budget for 2023-24, government officials told Hindu Businessline. The PM-KISAN scheme provides income support of Rs.6,000 per year to families holding land up to two hectares. The amount is released in three instalments of Rs.2,000 each directly to the bank accounts of the beneficiaries through direct benefit transfer (DBT) mode. With one more instalment, the total yearly pay out for farmers would reach Rs.8,000. As per the officials, the proposed hike would boost rural consumption and provide relief to farmers.