Budget 2024: Finance Minister allocates Rs1.52 lakh crore for agriculture and allied sectors

Nirmala Sitharaman, the Finance Minister, has announced an allocation of Rs 1.52 lakh crore for agriculture and allied sectors.

Finance Minister Nirmala Sitharaman presented the Union Budget for 2024-25, marking the first budget of the Modi 3.0 government. Nirmala Sitharaman, the Finance Minister, has announced an allocation of Rs 1.52 lakh crore for agriculture and allied sectors. The Interim Budget set nine priorities: productivity and resilience in agriculture, employment and skilling, inclusive human resource development and social justice, manufacturing services, urban development, energy security, infrastructure, innovation and research and development, and next-generation reforms. Sitharaman stated that this year’s budget theme focuses on five factors: employment, skilling, support for MSMEs and the middle class.

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’ for oil seeds, Large scale clusters for vegetable production and financial support for a network of Nucleus Breeding Centres for Shrimp Broodstocks.

Buoyed by the success of the pilot project, the 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 3 years. Union Finance and Corporate Affairs Minister Nirmala Sitharaman, while presenting the Budget for 2024-25 in Parliament, said that during this year, a digital crop survey for Kharif 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 5 states.

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 announced higher Minimum Support Prices 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 was extended for five years, benefitting more than 80 crore people.

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