The budget will be presented on February 1, 2024, and farmers can get great news.

Published on: 01-Feb-2024

An interim budget will be presented in the Parliament by Finance Minister Nirmala Sitharaman on 1 February 2024. It is believed that farmers can get a big gift from this budget. Due to the Lok Sabha elections this year, the full budget will be presented after the formation of the new government. Earlier, during the tenure of Prime Minister Narendra Modi, the interim budget was presented in 2019. Piyush Goyal, who took over the additional duties of the then Finance Minister Arun Jaitley due to his ill health, had presented the interim budget, along with many major announcements that were also made by the Parliament in the 2019 budget.

The amount of PM Kisan Yojana may increase

PM Kisan Samman Nidhi Yojana was announced in the interim budget of 2019. Under this scheme, an amount of Rs 6000 will be provided annually in three installments to farmers having land up to 2 hectares. More than 12 crore small and marginal farmers were included in this scheme. This amount will be increased to Rs 9000 per year in the budget to be presented in February 2024. It is expected that in the upcoming budget, the installments of PM Kisan Samman Nidhi can be increased, which is no less than a big blessing for the farmers. 

Also read: Uploading these documents is necessary to get the installment of PM Kisan Yojana.

Due to this, the amount of Mahila Samman Nidhi may also be doubled by the government. Besides, loans to women will also be provided at a lower rate of 1% compared to others. It is being told that the amount of Samman Nidhi for women farmers can be increased to Rs 12000. Besides, the government can also provide credit card facilities to provide loans to women farmers.

Can also announce health and life insurance for farmers

Given the Lok Sabha elections, the Modi government has asked to increase the amount in the Kisan Samman Nidhi scheme made for the farmers by 50 percent, and health and life insurance for the farmers can also be announced in the budget to be presented in the Parliament. 

Aman Puri, founder of Steadfast Nutrition, said India only spends 21% of GDP on health care, which is much lower than the world average of 6%. Recently many new diseases have been discovered, which have proved to be very fatal, which also require money. 

Also read: Big update on the 14th installment of PM Kisan has arrived, money will come into the account this month

A new framework is needed to prevent these diseases. In such a situation, the government needs to increase spending on health care.

Employees with a salary of more than Rs 10 lakh will get an exemption

It is being said in the budget to be presented on February 1, that employees whose income is above Rs 10 lakh can get relief in tax payment. Besides, many businesses and startups are also expected to get exemptions on tax payments. The government can provide great news on the matter of income tax. At present the discussion is that employees earning more than Rs 10 lakh can get relief in tax payment.

The government can take this decision for the agriculture sector

People have great expectations from the budget presented on Thursday. People in the agriculture sector have many expectations from this budget. He believes that with an agricultural loan of Rs 20 lakh, emphasis should be laid on achieving higher goals. In this, farmers should be stressed on increasing production by adopting new machinery and technology. If production increases, not only will farmers develop, but the economy will also become stronger.