The upcoming interim budget, scheduled to be presented on February 1, might witness a raise in the annual payout to female farmers who possess land. As per information from three undisclosed sources cited by Reuters, the Indian government is contemplating this increase. The proposed plan envisions doubling the annual payout to land-owning female farmers, amounting to ₹12,000.This move is seen as a strategic step to resonate with women voters ahead of the general elections.
Cost Of Doubled Payouts
According to sources, this measure could potentially result in an additional cost of ₹120 billion ($1.44 billion) for the government. This initiative builds upon an existing scheme, the ’Pradhan Mantri Kisan Samman Nidhi’, introduced by PM Modi ahead of the 2019 national election. Presently, both male and female farmers receive an annual transfer of ₹6,000 under this programme. Government estimates suggest that up until November last year, over ₹2.81 trillion had been disbursed to more than 110 million farmers in 15 installments.
Boost For Female Farmers
However, there has been no official confirmation from either the Ministry of Agriculture & Farmers’ Welfare or the Ministry of Finance at this point. With a significant farming community exceeding 260 million individuals in India, constituting a substantial voting bloc, women hold a notable presence. Despite comprising 60 per cent of all farmers, government data indicates that less than 13 per cent of women farmers own the land that they cultivate.
Empowering Women In Agriculture
Women have been a pivotal support base for Prime Minister Modi. The potential increase in the annual payout to landowning female farmers is perceived as a strategic move to address the concerns of this crucial societal segment and garner support in the politically significant agricultural sector.