Under the PM Kisan Samman Nidhi Yojana, Rs 22,000 crore is likely to be released as the third instalment in the December-March period, a government official told CNBC-TV18.
The government has so far spent Rs 43,000 crore spent under the scheme in FY22. The budget of Rs 65,000 crore for the scheme will be used up with the release of the third instalment, the official said.
The government might need an additional Rs 500 crore to Rs 1000 crore for the scheme in FY22 but it is not looking at making any changes as of now, the official added.
In West Bengal alone, there will be 50 lakh beneficiaries of the scheme in FY22 as against 35 lakh in the present.
Currently, there are close to 11 crore farmer-beneficiaries under PM Kisan Samman Nidhi Yojana. The Centre provides Rs 6000 in three instalments worth Rs 2000 each to all registered farmers. The amount is transferred to the bank accounts of the farmers in three instalments in the time period between April- July, August-November and December-March.