Interim Budget: Rs 6,000 a year income support scheme for farmers announced

Finance Minister Piyush Goyal said the scheme would directly benefit 120 million farmer families

farm loans, farm distress, farm loan waiver

In whatever form the relief packages for farmers come, banks will be wary of lending to them and the real issues will get discussed but not addressed

BS Web Team New Delhi
Finance Minister Piyush Goyal on Friday announced a cash transfer scheme, the Pradhan Mantri Kisan Samman Nidhi, to provide income support of Rs 6,000 per year to small and marginal farmers in the Interim Budget 2019. The government has allocated Rs 75,000 crore towards the scheme for financial year 2020.    

The scheme will provide assured income support to small and marginal farmers. Under the scheme, farmers with small landholdings, of up to two hectares, will be provided direct income support of Rs 6,000 per year.  

Goyal said the term of the scheme will start from December 2018 itself and to that effect, the government has set aside Rs 20,000 crore for the scheme in this financial year. 

First Published: Feb 01 2019 | 11:42 AM IST

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