As the Parliament prepares for the Budget session, scheduled to commence from January 31 to February 9, insiders reveal that a notable announcement may unfold for women farmers. President Draupadi Murmu is set to address both houses on the opening day, laying the foundation for crucial fiscal decisions.
While no major legislative overhauls are expected, the potential highlight could be a significant boost to the PM Kisan Samman Nidhi scheme for women farmers. Reports from news agency Reuters suggest that the government is contemplating doubling the annual payout to landowning female farmers to Rs 12,000.
Sources indicate that this plan is likely to be officially unveiled during the budget presentation on February 1, potentially incurring an additional cost of Rs 12,000 crore for the government. This proposed enhancement, if implemented, would mark a significant step towards empowering female agricultural workers, coinciding with the looming Lok Sabha Elections in 2024.
Beyond this, the government is expected to focus on increasing capital spending to stimulate infrastructure development and generate employment, aligning with India’s aspiration to become a $30 trillion economy by 2047.
While major revisions to income tax rules are not anticipated in the upcoming interim budget, minor adjustments cannot be ruled out. Additionally, the ambitious production-linked incentive (PLI) scheme is slated to receive a boost, aligning with the government’s vision to position India as a global manufacturing hub.
