Farmers' hopes high as union budget 2026 approaches, samman nidhi hike on the cards

New Delhi (The Uttam Hindu): The coming few months are going to be crucial and decisive for the country's millions of food providers. New hopes have now been raised regarding the Pradhan Mantri Kisan Samman Nidhi Yojana, a major support for small and marginal farmers. While farmers eagerly await the release of their next installment, the 22nd installment, they are also keeping an eye on the Union Budget to be presented on February 1, 2026. Speculation is rife that the government may increase the Samman Nidhi amount in this year's budget, providing significant relief to farmers, which will provide a new lease of life to the rural economy.

The central government's increased allocation of funds for this scheme clearly indicates that the agriculture sector is one of the government's top priorities. Looking at the figures for the current financial year (2024-25), the government initially allocated ₹60,000 crore, which was later increased to ₹63,500 crore given the scope of the scheme and the needs of farmers. This increase of more than ₹2,000 crore in the budget over the last two years indicates that the number of beneficiaries is increasing, and the government wants to ensure that funds are not held back for any eligible farmer.

Currently, the biggest topic of discussion among farmers and agricultural experts is whether the annual assistance of Rs 6,000 will be increased. Given the rising cost of farming, the price of fertilizers and seeds, and general inflation, there has been a long-standing demand to increase the amount of the Samman Nidhi. Currently, this amount is deposited directly into bank accounts (DBT) in three installments. Experts believe that when Finance Minister Nirmala Sitharaman presents the budget on February 1, 2026, the Agriculture Ministry's proposals may be approved and a 'big gift' may be announced for farmers.