Will PM Kisan Fund Double? Farmers Hopeful For Rs 12,000 Annual Benefit

Farmers and their representatives recently engaged with Finance Minister Nirmala Sitharaman to discuss pressing agricultural issues before the 2025 Budget. They urged the government to offer long-term loans at reduced interest rates. Additionally, they presented several demands aimed at improving the financial conditions of farmers.

One of the primary requests was to lower the interest rate on agricultural loans to just 1%. Another significant demand was to double the PM-Kisan Samman fund from Rs 6,000 to Rs 12,000. These measures aim to provide substantial financial relief to farmers across the country.

GST Reforms and Crop Insurance

The farmer organizations also called for zero premium crop insurance for small farmers under the Pradhan Mantri Crop Bima Yojana. This initiative would help protect small-scale farmers from potential losses due to unforeseen circumstances. Moreover, stakeholders sought GST exemptions on essential items like farm machinery, fertilizers, seeds, and medicines.

The PHD Chamber of Commerce and Industry proposed reducing GST on pesticides from 18% to 5%. This reduction could significantly lower costs for farmers who rely on these products for crop protection. The chamber also suggested a targeted investment strategy focusing on crops like soybean and mustard to boost national agricultural productivity.

Minimum Support Price (MSP) System Review

Bharatiya Kisan Union (BKU) president Dharmendra Malik advocated for a comprehensive review of the Minimum Support Price (MSP) system. He emphasized including land rent, farm wages, and post-harvest costs in MSP calculations. Malik also urged displaying farm machinery prices on company websites and enhancing mandi infrastructure.

Further demands included expanding MSP coverage beyond the current 23 commodities and setting minimum export prices during emergencies. These measures aim to ensure fair compensation for farmers' produce while safeguarding their interests in volatile market conditions.

Investment Strategies and Infrastructure Improvements

Jakhar proposed an investment strategy worth Rs 1,000 crore over eight years. This plan focuses on specific crops like soybean and mustard, aiming to enhance national agricultural productivity. Such investments could lead to better yields and increased income for farmers.

The discussions highlighted the need for improved mandi infrastructure. Enhancing these facilities would streamline operations and provide better access for farmers to sell their produce efficiently. Such improvements are crucial for supporting India's vast agricultural sector.

The meeting underscored various challenges faced by Indian farmers today. Addressing these issues through policy changes and financial support can significantly improve their livelihoods. The government's response will be crucial in shaping a sustainable future for agriculture in India.