Union Budget 2024: The Centre may increase the budgetary allocation for the PM Kisan Samman Nidhi by 30 per cent to around Rs 80,000 crore in the upcoming budget, government sources have told Business Today TV. The government had pegged the PM Kisan Samman Nidhi allocation at Rs 60,000 crore in the interim budget, with an allowance of Rs 6,000 per farmer per year. This amount could increase to Rs 8,000 per farmer following demands from agricultural representatives to Finance Minister Nirmala Sitharaman during pre-budget consultation meetings held in the last week of June The full budget will continue to focus on youth, women, rural areas, and farmers, the sources added. "We have requested Finance Minister Nirmala Sitharaman to increase the allocation under PM Kisan to Rs 8,000 from Rs 6,000, which is currently transferred to farmers in three instalments during the year," said Badri Narayan Choudhary of the Bhartiya Kisan Sangh. This increase is unlikely to cause any fiscal slippage in government expenditure due to higher revenue collections and dividend from the Reserve Bank of India. In her budget speech on February 1, 2024, Finance Minister Nirmala Sitharaman projected higher direct and indirect taxes for FY25, owing to income and consumption in the economy. The Centre plans to collect Rs 21.99 lakh crore from direct taxes, and Rs 16.31 lakh crore from indirect taxes in fiscal year 2025, a number that could further go up owing to buoyancy. The government also received a record dividend payout of Rs 2.1 lakh crore for FY25 from the Reserve Bank of India. This amount exceeded the government’s budget estimate and analysts' expectations of Rs 1.02 lakh crore and was 141% higher than the Rs 87,416 crore dividend payout in FY23.