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Agriculture Budget 2024
Context
In the Union Budget for the fiscal year 2024-25, Finance Minister Nirmala Sitharaman has prioritized enhancing productivity and resilience in agriculture. This sectoral focus comes amidst ongoing challenges in the agriculture domain, including subsidy reductions which have drawn criticism from farmer organizations.
Key Highlights:
- Budget Allocation for Agriculture:52 lakh crore has been allocated for farming and allied sectors, reflecting a significant commitment to bolster agricultural infrastructure and productivity.
- Focus on Research and Innovation:A comprehensive review of the agriculture research setup is planned to emphasize productivity enhancement and the development of climate-resilient crop varieties.
- Support for Farmer-Producer Organizations (FPOs) and Cooperatives:Promotion of FPOs, cooperatives, and startups in vegetable supply chains, focusing on collection, storage, and marketing to empower farmers economically.
- Digital Public Infrastructure and Agricultural Reforms:Digital Public Infrastructure is to be implemented for Agriculture, including digital crop surveys in 400 districts to enhance agricultural data accuracy and planning.
- Financial support for setting up Nucleus Breeding Centres for shrimp broodstocks through NABARD to boost aquaculture.
- For farmers, higher Minimum Support Prices has been announced for all major crops delivering on the promise for at least a 50% margin over cost.
- A digital crop survey will be conducted, covering 6 crore farmers across 400 districts beginning in the ongoing Khareef season.
- Natural Farming: 1 crore farmers will be initiated into natural farming over the next few years. The government will also look to strengthen production, storage, and marketing for self-reliance in pulses and oilseeds.
- 6 crore farmers will be brought into the farm and land registry and Kisan credit cards will be provided.
- New Variety: New 109 high-yielding and climate-resilient varieties of 32 field and horticulture crops will be released for cultivation by farmers.
- Missions for pulses and oilseeds: A strategy is being put in place to achieve ‘atmanirbharta’ for oil seeds such as mustard, groundnut, sesame, soybean, and sunflower.
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