Government Extends PM-KISAN Scheme to Support Farmers Until 2031
Extension of PM-KISAN Scheme
In a significant move for millions of farmers across the nation, the central cabinet has approved the extension of the 'Pradhan Mantri Kisan Samman Nidhi' (PM-KISAN) scheme for an additional five years, lasting until the financial year 2030-31. A budget of ₹3,15,614 crores has been allocated for this initiative. The scheme will now be operational from the financial years 2026-27 through 2030-31. Information and Broadcasting Minister Ashwini Vaishnaw informed the media that the cabinet has proposed a budget exceeding ₹3.15 lakh crores to ensure that eligible farmers continue to receive financial assistance.
Under the PM-KISAN scheme, qualifying farmer families receive an annual financial aid of ₹6,000. This amount is transferred directly into the farmers' bank accounts through the 'Direct Benefit Transfer' (DBT) system. The funds are disbursed in three equal installments of ₹2,000 each, timed according to the agricultural cycle to provide support during sowing and harvesting periods.
Additionally, the cabinet has approved the 'Samudra Manthan' initiative, also known as the National Offshore Exploration Scheme, with a budget of ₹84,084 crores set for implementation until the financial year 2030-31. According to the government, the installments of this scheme are released at times when farmers most need funds for purchasing seeds, fertilizers, pesticides, and other agricultural necessities. This support alleviates cash shortages for farmers, reducing their reliance on high-interest loans.
The government claims that the majority of beneficiaries of this scheme are small and marginal farmers. To date, over ₹4.47 lakh crores have been directly transferred to farmers' accounts through 23 installments of the PM-KISAN scheme. According to assessments by the NITI Aayog, this initiative has led to increased incomes for many farmers and decreased their dependence on informal loans. The decision to extend the PM-KISAN scheme for another five years is viewed as a significant relief for farmers.