Union Budget 2024: In a significant boost to agriculture, Finance Minister Nirmala Sitharaman today announced that 1 crore farmers will be introduced to natural farming in the coming years. The government plans to enhance production, storage, and marketing to achieve self-reliance in pulses and oilseeds.
The Finance Minister allocated Rs 1.52 lakh crore for agriculture and allied sectors for the fiscal year 2024-25. "This year, I have made an allocation of Rs 1.52 lakh crore for agriculture and allied sectors," said Sitharaman highlighting the agri push in this year's Budget.
Research and development in the agriculture sector
Finance Minister Nirmala Sitharaman highlighted the crucial role of research and development in the agriculture sector. She announced that significant funding would be allocated for R&D initiatives, with a particular focus on enhancing the production, storage, and marketing of pulses and oilseeds.
"We will strengthen their production, storage, and marketing," she stated. This initiative aims to achieve "atmanirbharta" (self-reliance) in oilseeds such as mustard, groundnut, sesame, soybean, and sunflower.
"As announced in the interim budget, a strategy is put in place to achieve "Atmanirbharta" for oil seeds such as mustard, groundnut, sesame, soybean and sunflower," she said.
To enhance the supply chain of vegetables, the budget proposes the development of large-scale clusters for vegetable production near major consumption centres. "Lage scale clusters for vegetable production will be developed closer to major consumption centres. We will promote farmer producer organisations, co operatives and startups for vegetables supply chains including for collections, storage and marketing," she said.
Digital public infrastructure in agriculture
Sitharaman announced a three-year plan to facilitate the digital public infrastructure for agriculture, aiming to cover farmers and their lands comprehensively.
"Our government will facilitate the Digital public infrastructure in agriculture for coverage of farmers and their lands in 3 years. During this year, a digital crop survey for Kharif using the DPI will be taken up in 400 districts."
She said a digital crop survey for Kharif crops will be conducted in 400 districts this year, integrating the details of six crore farmers and their lands into farmer and land registries.
Sitharaman said that the Jan Samarth-based Kisan Credit Card will be introduced in five states. She said that the government will provide finance for shrimp farming and marketing and will strengthen the production, storage and marketing of pulses.
"Recognizing the potential of aquaculture, the budget provides financial support for setting up a network of nucleus breeding centers for shrimp broodstocks.Financing for shrimp farming and exports will be facilitated through the National Bank for Agriculture and Rural Development (NABARD), aiming to boost this lucrative sector. Financial support for setting up a network of nucleus breeding centres for shrimp brude stocks will be provided. Financing for shrimp farming and exports will be facilitated through NABARD," she said.
She said that a new national cooperation policy will be introduced to ensure the systematic, orderly, and all-round development of the cooperative sector. "Our government will bring out a national cooperation policy for systematic, orderly and all round development of the cooperative sector. Fast tracking growth of rural economy and generation of employment opportunities on a large scale will be the policy goal.
"This policy aims to fast-track the growth of the rural economy and generate employment opportunities on a large scale," she added.
Sitharaman announced that new 109 high-yielding and climate-resilient varieties of 32 field and cultivation crops will be released for farmers in this financial year.
