Interim Budget 2024: PM Kisan Scheme Payout Expected to Surge

30 Jan 2024 , 10:36 AM

In the run-up to the interim budget presentation, The Economic Times has reported that while no major announcements are anticipated, the government may consider a substantial increase in the PM Kisan scheme payout. The proposed surge could elevate the annual payout from ₹6000 to ₹9000 per year.

According to economists cited in the ET report, this potential increment in the PM Kisan scheme’s payout is projected to be one of the significant announcements in the social sector during Union Budget 2024. The government’s focus on social welfare is expected to extend to the PM Awas Yojana, a housing scheme, as indicated by economists in a pre-budget poll.

In the previous fiscal year, the budget allocation for the PM Kisan scheme stood at ₹60,000 Crore. Analysts anticipate a substantial 50 percent increase in this allocation for the upcoming fiscal year. Aside from welfare initiatives, the government is likely to persist in emphasizing capital expenditure, particularly as private sector investments remain subdued across various sectors.

The government has consistently augmented capital expenditure by almost one-third annually over the past three years, prioritizing investments in crucial areas such as roads, ports, and power plants. These sectors are poised to receive additional impetus during the forthcoming Budget 2024 session.

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