The Union Cabinet has approved the extension of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme until 2030-31, with a financial outlay of ₹3.15 lakh crore.

Context

The PM-KISAN scheme was launched to provide direct financial support to eligible farmer families in India.S2

Key points

• The PM-KISAN scheme will continue from 2026-27 to 2030-31.S1

• The government has allocated ₹3.15 lakh crore for the scheme over five years.S1

• Eligible farmers receive ₹6,000 annually under the scheme.S1

• The funds are transferred directly into farmers' bank accounts.S1

• The scheme aims to provide assured income support to farmers nationwide.S2

• The PM-KISAN scheme was launched on February 24, 2019.S2

• The extension reflects the government's commitment to farmer welfare.S1

• The scheme is part of broader agricultural support initiatives by the government.S2

Why it matters

• The extension of PM-KISAN is significant for rural economies dependent on agriculture.S1

• Direct financial support can help stabilize farmers' incomes amid economic fluctuations.S2

What to watch

• Monitor the implementation of the extended PM-KISAN scheme and its impact on farmers.S1

• Watch for any changes in eligibility criteria or payment processes in the coming years.S2