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Union Budget 2024 : ‘1.52 lakh crore for agriculture and allied sectors,’ says Finance Minister
TIWN July 23, 2024
Union Budget 2024 : ‘1.52 lakh crore for agriculture and allied sectors,’ says Finance Minister
PHOTO : Union Finance Minister Nirmala Sitharaman placing budget in the Parliament. TIWN Pic July 23, 2024

NEW DELHI, July 23 (TIWN): Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman presented the Union Budget 2024-25 in Parliament today. Nirmala Sitharaman said that a strategy is being put in place to achieve ‘atmanirbharta’ for oil seeds such as mustard, groundnut, sesame, soybean, and sunflower, as announced in the interim Budget. The Finance Minister added that large scale clusters for vegetable production will be developed closer to major consumption centres. She said Government will promote Farmer-Producer Organizations, cooperatives and start-ups for vegetable supply chains including for collection, storage, and marketing.

The highlights of the budget are as follows:

Nine Budget Priorities in pursuit of ‘Viksit Bharat’:

1.      

1.     Productivity and resilience in Agriculture

2.     Employment & Skilling

3.     Inclusive Human Resource Development and Social Justice

4.     Manufacturing & Services

5.     Urban Development  

6.     Energy Security

7.     Infrastructure

8.     Innovation, Research & Development and

9.     Next Generation Reforms

Priority 1: Productivity and resilience in Agriculture

· Allocation of  `1.52 lakh crore for agriculture and allied sectors.

· New 109 high-yielding and climate-resilient varieties of 32 field and horticulture crops to be released for cultivation by farmers.

· 1 crore farmers across the country to be initiated into natural farming, with certification and branding in next 2 years.

· 10,000 need-based bio-input resource centres to be established for natural farming.

· Digital Public Infrastructure (DPI) for Agriculture to be implemented for coverage of farmers and their lands in 3 years.

·        The Union Finance Minister said Financial support for setting up a network of Nucleus Breeding Centres for Shrimp Broodstocks will be provided. Smt. Sitharaman said Financing for shrimp farming, processing and export will be facilitated through NABARD. 

·        Productivity and resilience in agriculture is 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 sector. Terming ‘Annadata’ (Farmer) as one of four major castes which need to be focused upon, the Minister said that the Government has 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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