Budget and Farmers: The government will formulate a strategy to make India self-sufficient in terms of edible oils by promoting domestic production of oilseeds. A comprehensive program will also be launched to support dairy farmers. The interim budget presented on Thursday said that under the PM-Kisan Samman Yojana, direct financial assistance is given to 11.8 crore farmers, including marginal and small farmers, every year.
Emphasis on self-sufficiency in edible oils: India imports large quantities of edible oils to meet the domestic demand for edible oils. During the marketing year 2022-23 (November-October), the country imported about 165 lakh tonnes of edible oils worth Rs 1.38 lakh crore.
The interim budget announced that a strategy for self-sufficiency in oilseeds such as mustard, groundnut, sesame, soybean and sunflower will be formulated, building on the initiatives announced in 2022. This will include research for high-yielding varieties, widespread adoption of modern farming techniques, market linkages, procurement, value addition and crop insurance.
Existing schemes in the dairy sector will be made result-oriented: In the budget speech, the Finance Minister talked about preparing a comprehensive program to support dairy farmers. It was said that efforts are already underway to control diseases like foot and mouth disease. India is the world’s largest milk producer, but the productivity of dairy animals is low. This program will be made result-oriented by making existing schemes like National Gokul Mission, National Livestock Mission and Infrastructure Development Fund for Dairy Processing and Animal Husbandry successful.
Crop insurance given to four crore farmers: In the budget speech, it was informed that under the PM Crop Insurance Scheme, crop insurance has been provided to four crore farmers. The Finance Minister said that the farmers are being helped to produce food for the country and the whole world. The Electronic National Agriculture Market has integrated 1361 mandis across the country and business worth three lakh crore rupees is taking place in it. 1.8 crore farmers are getting services. He said that the PM Crop Insurance Scheme is helping the farmers to produce food for the country and the world.
Help to 2.4 lakh self-help groups: The Finance Minister has made provision in the interim budget for value addition in the agriculture sector and efforts to increase the income of farmers. 38 lakh farmers have benefited from the Pradhan Mantri Kisan Sampada Yojana and 10 lakh employment opportunities have been created.
Pradhan Mantri Formalisation of Micro Food Processing Enterprises Scheme helped 2.4 lakh self-help groups (SHGs) and 60 thousand individuals to get credit facility. The Finance Minister announced in the budget to promote private and public investment in crop aggregation, modern storage, efficient supply chain, primary and secondary processing and marketing and brand development.
PM-Kisan Samman Nidhi should be 8-10 thousand rupees: Agriculture expert
Agriculture expert Devendra Sharma said that the Finance Minister has presented the report card of the government. The PM-Kisan Samman Nidhi given to farmers every year should have been increased from eight to ten thousand rupees annually. Currently, under the PM-Kisan scheme, the government provides financial benefits of Rs 6,000 every year in three equal monthly installments. This amount is insufficient considering the inflation.
Sharma said that India’s agricultural growth rate is 1.8 percent which is much less than the country’s potential GDP of seven percent. The country’s agricultural sector has been going through a crisis for the last several months. He said, however, in the budget, measures were taken to strengthen women economically through self-help groups. This has improved the condition of women in rural areas. Natural farming is expanding rapidly in Telangana and other southern states.
Nano DAP will be used on different crops: The Finance Minister also announced to use Nano Urea and Nano DAP on other crops in view of their success. He said that Nano DAP will be used on various crops in all agro-climatic zones.
PM-Kisan scheme announced in 2019
Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) is one of the world’s largest direct benefit transfer (DBT) schemes. Under the PM-KISAN scheme, the government provides financial benefits of Rs 6,000 every year in three equal monthly installments. This money is transferred to the bank accounts of farmer families across the country through ‘DBT’. It was announced in the interim budget in February 2019.
Implementation of Pradhan Mantri Matsya Sampada Yojana will increase
In her Budget speech, the Finance Minister said the government has set up a separate Department for Fisheries, realising the importance of helping fishermen. This has led to doubling of inland and aquaculture production. Seafood exports have also doubled since FY 2013-14. She announced that the implementation of Pradhan Mantri Matsya Sampada Yojana (PMMSY) will be enhanced to increase aquaculture productivity from the current three to five tonnes per hectare, double exports to Rs one lakh crore and create 55 lakh employment opportunities in the near future. Five integrated aquaparks will also be set up.
The total budget of the Agriculture Ministry is Rs 1,27,469.88 crore
This includes Rs 1,17,528.79 crore to the Department of Agriculture and Rs 9,941.09 crore to the Department of Agricultural Research and Education (DARE).
Ministry/Department Allocation in 2023-24 Allocation in 2024-25
Co-operatives 747.84 1,183.39
Food processing industries 2,911.95 3,290
Fisheries 1,701 2,584.50
Animal Husbandry and Dairying 3,913.93 4,521.24
(All figures in Rs crore)
