In good news for millions of farmers across the country, the Union Cabinet on Friday approved the extension of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN)ย scheme for the next five years till the 2030-31 fiscal year with an outlay of Rs 3,15,614 crore. This scheme will now be in effect from the financial years 2026-27 to 2030-31. Briefing the media, Information & Broadcasting Minister Ashwini Vaishnaw said the Cabinet has proposed a budget of over Rs 3.15 lakh crore for this scheme, ensuring eligible farmers continue to receive financial assistance as before.ย
Under the PM Kisan Yojana, eligible farmer families receive financial assistance of Rs 6,000 annually. This amount is transferred directly to farmers’ bank accounts in three equal instalments of Rs 2,000 each through Direct Benefit Transfer (DBT). The instalments are timed according to the crop cycle, ensuring timely financial assistance during sowing and crop preparation.
Meanwhile, the Cabinet has also approved ‘Samudra Manthan’ โ the National Offshore Exploration Scheme, with an outlay of Rs 84,084 crore for implementation up to fiscal 2030โ31.
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Timely help for farming
According to the government, the scheme’s instalments are released at a time when farmers most need funds to purchase seeds, fertilisers, pesticides, and other agricultural inputs. This reduces farmers’ cash crunch and the need to borrow at high interest rates.
Small farmers will get the most benefit
The government states that most of the beneficiaries of this scheme are small and marginal farmers. To date, more than Rs 4.47 lakh crore has been transferred directly to farmers’ accounts through 23 instalments of the PM Kisan Yojana. According to NITI Aayog’s assessment, this scheme has increased the incomes of many farmers and reduced their dependence on informal loans. The decision to extend the PM Kisan Yojana for another five years is being seen as a major relief for farmers.
PM Modi released 23rd PM-KISAN instalment
Prime Minister Narendra Modi released the 23rd instalment of the PM-KISAN scheme to the eligible farmers in Hooghly district, West Bengal. The event was organised by the Ministry of Agriculture, Government of India, with the support of the Government of West Bengal.
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