Agriculture Budget 2020-21: Nirmala Sitharaman Allocates Rs 2.83 Lakh Crore, Proposes Doubling Farmers’ Income by 2022 Under ‘Aspirational India’ Theme
Union Finance Minister Nirmala Sitharaman on Saturday presented the Union Budget 2020 in the parliament. For the agriculture and allied activities sector, Nirmala Sitharaman announced a fund allocation of Rs 2.83 lakh crore for FY 21. This includes agriculture, irrigation, rural development and Panchayati Raj.
New Delhi, February 1: Union Finance Minister Nirmala Sitharaman on Saturday presented the Union Budget 2020 in the parliament. For the agriculture and allied activities sector, Nirmala Sitharaman announced a fund allocation of Rs 2.83 lakh crore for FY 21. This includes agriculture, irrigation, rural development and Panchayati Raj.
In her second budget she said that this budget is surrounded by three themes -- aspirational India, economic development for all and a caring society. In the first theme of aspirational India theme, the Finance Minister proposed schemes and initiatives to boost skills, education and agriculture sector. Under the aspirational India theme, she proposed to double farmer income by 2022. She also mentioned about the 16-points action plan. Union Budget 2020-21 Live News Updates.
Pointing out that 6.11 crore farmers insured under Fasal Bima, balanced use of all kind of fertilisers, and expansion of 'PM Kusum Scheme ' to 20 lakh farmers for standalone solar pumps. She also said that government can help 15 lakh solarise grid-connected pump sets.
The FM spoke about the farm land should have sufficient manure and water and not an excessive one. She also spoke about revising incentives for use of chemical fertilisers and building warehouse. With this, the government is aiming to offer viability gap funding and Mudra loans will also be provided for such self-help groups. Here, women will be the 'dhanya Laxmi' in the villages, she added.
Sitharaman stated that non-banking financial companies and cooperatives are active in agriculture lending and added that NABARD refinance scheme will be expanded. She mentioned that agri credit target for 2020-21 has been proposed at Rs 15 lakh crore.
The FM proposed doubling of milk producing capacity will be to 108 MT by 2025 from 53.5 MT. She also proposed raising 200 lakh tons of fish production and said there will be Sagar Mitras who will be the fish farmers. Apart from this, she stated that to build a seamless national cold supply chain for perishables, Indian Railways will set up Kisan Rail through PPP model so that perishable goods can be transported quickly. Krishi Udaan will be launched by MoCA on international and national routes.
(The above story first appeared on LatestLY on Feb 01, 2020 12:01 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).