Union Budget 2024-25 allocates ₹1.52 lakh crore for agriculture and allied sectors

Union Budget 2024-25 allocates ₹1.52 lakh crore for agriculture and allied sectors

New Delhi: As part of measures to enhance productivity and resilience in the agriculture sector, the Union Budget 2024-25 has announced several measures including Digital Public Infrastructure, ‘atmanirbharta’ (self-reliance) for oilseeds, large-scale clusters for vegetable production and financial support for a network of nucleus breeding centres for shrimp broodstocks.

Digital Public Infrastructure for Agriculture

Buoyed by the success of the pilot project, the Central government, in partnership with the states, will facilitate the implementation of the Digital Public Infrastructure (DPI) in agriculture for coverage of farmers and their lands in three years. Union Finance and Corporate Affairs Minister Nirmala Sitharaman, while presenting the Budget for 2024-25 in Parliament today, said that during this year, a digital crop survey for Kharif crops using the DPI will be taken up in 400 districts. She said the details of 6 crore farmers and their lands will be brought into the farmer and land registries. Sitharaman added that the issuance of Jan Samarth-based Kisan Credit Cards will be enabled in five states.

Missions for Pulses and Oilseeds

To achieve self-sufficiency in pulses and oilseeds, the government will strengthen their production, storage and marketing. While presenting the Union Budget 2024-25 in Parliament today, the Union Minister said that a strategy is being put in place to achieve ‘atmanirbharta’ for oil seeds such as mustard, groundnut, sesame, soybean and sunflower, as announced in the interim Budget in February this year.

Vegetable Production and Supply Chains

The Finance Minister added that large-scale clusters for vegetable production will be developed closer to major consumption centres. She said that the government would promote farmer-producer organisations (FPOs), cooperatives and startups for vegetable supply chains including for collection, storage, and marketing.

Shrimp Production and Export

The Union Finance Minister said that financial support for setting up a network of nucleus breeding centres for shrimp broodstocks will be provided. Sitharaman said that financing for shrimp farming, processing and export will be facilitated through NABARD (National Bank for Agriculture and Rural Development).

Productivity and resilience in agriculture are first among the nine priority areas announced in the Union Budget. The Budget 2024-25 has made a provision of ₹ 1.52 lakh crore for agriculture and allied sectors. Terming ‘Annadata’ (Farmer) as one of four major castes which need to be focused upon, the minister said that the government has announced higher Minimum Support Prices (MSP) a month ago for all major crops, delivering on the promise of at least a 50 per cent margin over costs. She said Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) was extended for five years, benefitting more than 80 crore people.

Engage with us on Telegram, X, LinkedIn and Facebook.
Share on

Leave a Reply

Your email address will not be published. Required fields are marked *

5 + 3 =