Union Budget 2024: On July 23, the country’s Finance Minister Nirmala Sitharaman will present the budget. The eyes of the country and the world are fixed on this budget of Modi 3.0. However, it will be interesting to see which sectors will get a boost in the budget and which will be disappointed. At the same time, farmers across the country are also keeping their eyes on this budget.
In fact, as soon as PM Modi took oath as Prime Minister for the third time, he first signed the file to release the installment of PM Kisan Samman Nidhi. The farmer brothers got the benefit of which within a few days. In such a situation, farmers have high expectations from this budget of Modi government. Farmers hope that this time the installment of PM Kisan Samman Nidhi will be increased from Rs 6 thousand to Rs 8 thousand annually. Apart from this, there are speculations about increasing the amount received by farmers under Kisan Credit Card. Along with this, the hope of getting huge discounts on agricultural equipment is also in the minds of farmers.
PM Kisan Yojana
Pradhan Mantri Kisan Samman Nidhi is one of the most ambitious schemes of the government for the farmer brothers. Under this scheme, 6 thousand rupees are given to the farmers in a year. This amount is sent to the accounts of the farmer brothers in three installments. This scheme was started in the year 2019. Now it is expected that farmers will be given 8 thousand rupees annually. Farmers take this money for farming work.
Discount on agricultural equipment
Farmers are hopeful that there will be a discount on the equipment used in agriculture. Farmers’ organizations are continuously protesting against the GST on equipment. After which, now there is a hope of getting a lower GST rate or more subsidy on equipment.
More money at less interest
The limit of agricultural loan under Kisan Credit Card can be increased from Rs 3 lakh to Rs 5 lakh. Currently, farmers get agricultural loan up to Rs 3 lakh at 7% interest rate, which includes a subsidy of 3%. That is, farmers get this loan at 4% interest rate. In view of the increase in inflation and agricultural cost, the government can increase the loan limit.
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