Contrary to expectations, the Finance minister Nirmala Sitharaman in Modi 3.0's maiden budget on July 23 kept the per farmer payout under PM-KISAN scheme by unchanged at Rs 6,000.
Overall outlay under the Pradhan Mantri Kisan Samman Nidhi programme was kept at Rs 60,000 crore allocation under the interim budget and just over Rs 58,000 crore in FY24.
One of the first decisions of the prime minister after assuming office was to release the 17th installment of PM-KISAN worth Rs 20,000 crore.
A key demand by industry associations and farmers organisations in the pre-budget meetings with the finance minister was to increase per farmer benefit under the programme.
Agriculture growth was tepid at 1.4 percent in FY24 compared with 4.7 percent in the previous year, despite the economy expanding 8.2 percent in FY24.
Consumption growth has also been muted at 4 percent.
The government has been hoping for a better monsoon this year to provide a boost to rural economy. But economists contend the higher food inflation can play spoilsport.
Food inflation galloped to 9.4 percent in June compared with 8.7 percent, according to data released on July 12.
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