Budget 2026: PM-Kisan Hike to ₹10,000 Likely; MSP, Subsidies Face Major Reforms

• Farmers expect PM-Kisan annual payment to increase from ₹6,000 to ₹10,000 due to rising inflation.
• Rating agency Brickwork Ratings suggests a PM-Kisan hike would boost farmers' direct income and market connection.
• MSP is expected to increase, but a legal guarantee for it is unlikely in Budget 2026.
• Fertilizer subsidies (estimated ₹1.68 lakh crore) are likely to be rationalized and made more targeted.
• Government aims for direct cash transfers to farmers while reducing subsidy burden, promoting Nano and Liquid Urea.

Why It Matters: PM-Kisan hike is likely, MSP will increase without legal guarantee, and fertilizer subsidies will be reformed.