This was an important message for women farmers at the budget meeting on January 31.
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Big news for women farmers during the budget session on January 31st.
The Parliament is gearing up for the upcoming budget women farmers session scheduled from January 31 to February 9, with President Draupadi Murmu set to address both houses on the first day, setting the stage for crucial budgetary announcements.
While a major legislative overhaul is not expected, there’s speculation that a significant move might be in the works – the doubling of the PM Kisan Samman Nidhi scheme for women farmers. Reuters reports that the government is contemplating increasing the annual compensation for female landowner farmers to Rs 12,000, a move that could have substantial implications.
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If this proposed increase is included in the interim budget presented by Finance Minister Nirmala Sitharaman on February 1, it would mark a noteworthy step toward empowering women in agriculture, particularly with an eye on the 2024 Lok Sabha Elections. women farmers India’s ambitious goal of becoming a $30 trillion economy by 2047 is also expected to shape budget priorities, with a likely increase in capital spending to support infrastructure development and job creation. While minor adjustments to income tax laws may be on the table, significant changes are unlikely. Additionally, a boost for the center for manufacturing is anticipated.
Unnamed sources suggest that the government may face an additional expense of 120 billion rupees ($1.44 billion) due to this initiative. The proposal builds upon the Pradhan Mantri Kisan Samman Nidhi program announced by Prime Minister Modi ahead of the 2019 national election. Currently,women farmers both male and female farmers are eligible for an annual transfer of 6,000 rupees under this scheme, and government estimates reveal significant payouts to over 110 million farmers.
It’s important to note that as of now, neither the finance ministry nor the agriculture ministry has officially confirmed this potential increase. Meanwhile, in Namibia, where over 260 million people are engaged in farming, accounting for a substantial portion of the nation’s 1.4 billion population, efforts are underway to address disparities.
Despite comprising 60% of all farmers, less than 13% of them are landowners, according to government statistics. The proposed financial assistance to female farmers is not expected to significantly strain public coffers, given its relatively modest amount in the context of a budget estimated at around $550 billion.
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The speculated increase in the annual payout to female land-owning farmers could be a strategic move to garner support from a significant segment of the public, women farmers particularly in the politically crucial agriculture industry. This move aligns with Prime Minister Modi’s campaign for a third term in the upcoming May elections. It remains to be seen how these potential budgetary changes will unfold and whether they will indeed have the intended impact on various stakeholders.
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