Interim Budget 2019- Rs 750 Cr for Rashtriya Gokul Mission to impact Dairy Industry

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image credit- dairypesa.com

Allocation of Rs.750 crore for Rashtriya Gokul Mission has been announced for the current year itself.

Interim Budget 2019-20 has been presented in the Parliament by the Union Minister for Finance, Corporate Affairs, Railways & Coal, Piyush Goyal.

To provide sustained and focused attention towards development of Fisheries, the Government has decided to create a separate Department of Fisheries. Finance Minister said that through the measure, the Government wants to promote further growth over 7% to promote livelihood of about 1.45 crore people dependent on the sector.

The Finance Minister announced 2% interest subvention to the farmers pursuing the activities of animal husbandry and fisheries, who avail loan through Kisan Credit Card. Further, in case of timely repayment of loan, they will also get an additional 3% interest subvention.

Allocation of Rs.750 crore for Rashtriya Gokul Mission has been announced for the current year itself. Setting up of “Rashtriya Kamdhenu Aayog” to upscale sustainable genetic upgradation of cow resources and to enhance production and productivity of cows has also been announced. The Aayog will also look after effective implementation of laws and welfare schemes for cow.

 

Industry reacts to Interim Budget-

The Rashtriya Kamdhenu Ayog, a step taken for the welfare of cows is going to have a great positive impact on the Indian Dairy industry in the long run. Indian indigenous Cows have very low production and at the same time the ability to survive in harsh environments. Selective and quality breeding will help increase the yield and reduce maturity period. This will no doubt increase the dairy farmers revenue over time.

Samarth Setia, Founder, Mr. Milkman

 

Today’s budget to be consumer friendly By giving more spending power to the middle class, the budget has proved to be an impetus to the consumer goods market. The government’s focus on rural reforms will also help uplift the retail industry. Initiatives like MGNREGA, PMGSY will play a crucial role in development of infrastructure and raise the standard of living for lower and middle class population of India.

Pankaj Aswani, Founder & CEO, Coolberg Beverages Private Limited

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