THE JHARKHAND STORY DESK
New Delhi, Jan 11: Preparations are underway for the Budget session in Parliament, set to take place from January 31 to February 9, as per sources. President Draupadi Murmu is slated to address both houses on the inaugural day, laying the groundwork for vital fiscal declarations.
Govt may double annual payout to landowning female farmers
Although there are no expectations of significant legislative reforms, a potential significant development could involve the doubling of the PM Kisan Samman Nidhi scheme specifically for female farmers.
Recently, Reuters news agency disclosed that the government is contemplating increasing the annual payout to female landowning farmers to Rs 12,000, effectively doubling the current amount.
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According to sources cited in the news agency’s reported, the scheme might cost the government an additional Rs 12,000 crore and is expected to be announced in the budget on February 1.
If incorporated in the interim budget to be presented by Finance Minister Nirmala Sitharaman on February 1, this suggested increase would represent a move towards empowering women in agriculture ahead of the imminent Lok Sabha Elections in 2024.
Surge in capital spending likely
With India aiming to become a $30 trillion economy by 2047, the government is expected to raise capital spending among other things to spur infrastructure development and increase employment.
Minor adjustments to income tax rules cannot be ruled out in the forthcoming interim budget, even though significant changes are unlikely. A boost is also anticipated for the ambitious production-linked incentive (PLI) scheme, which is part of the government’s plan to make India a global center for manufacturing.
