Sources claim that the Parliament is preparing for the upcoming budget session, which is scheduled for January 31-February 9. On the first day of the session, President Draupadi Murmu will address both houses, laying the groundwork for important budgetary announcements. A major legislative overhaul is not expected, but doubling the PM Kisan Samman Nidhi scheme for women farmers could be a game-changer. According to the Reuters news agency, the government is thinking of increasing the yearly compensation given to female landowner farmers by double to Rs 12,000 in recent days.
If included in the interim budget that Finance Minister Nirmala Sitharaman presented on February 1, this proposed increase would be a step toward the empowerment of women employed in agriculture ahead of the 2024 Lok Sabha Elections. India aims to become a $30 trillion economy by 2047, so, among other things, the government is likely to increase capital spending to support infrastructure development and create more jobs. Minor adjustments to income tax laws cannot be ruled out in the forthcoming interim budget, even though significant changes are unlikely. A boost is also anticipated for the ambitious center for manufacturing.
According to two unnamed individuals with knowledge of the situation, the government may have to pay an extra 120 billion rupees ($1.44 billion) as a result of this initiative. Prior to the 2019 national election, Prime Minister Modi announced the Pradhan Mantri Kisan Samman Nidhi, an ongoing program that is expanded upon by this initiative. Farmers who are male or female are currently eligible to receive an annual transfer of 6,000 rupees under this scheme. According to government estimates, more than 110 million farmers had received payments totaling over 2.81 trillion rupees in 15 installments as of November of last year. It’s crucial to remember that, as of right now, neither the finance ministry nor the agriculture ministry have provided an official confirmation.
More than 260 million people work as farmers in Namibia, and when their families are taken into account, they make up a sizable portion of the 1.4 billion people who live in the nation. Despite making up 60% of all farmers, less than 13% of them are landowners, according to government statistics. One of the sources states that it is not anticipated that providing more financial assistance to female farmers will significantly strain public coffers. This is explained by the comparatively small amount involved, which is thought to be not that significant when considering a budget of approximately $550 billion.
This possible increase in the yearly payout to land-owning female farmers could be a calculated move to appease a significant segment of the public and win over supporters in the politically significant agriculture industry, particularly as Prime Minister Modi campaigns for a third term in the May elections.
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