The Sustainable Development Goal (SDG) 2 emphasises an increase in investment in rural infrastructure, agricultural research and extension services, development of technology to enhance agricultural productivity and eradication of poverty in middle- and lower-income countries. Agriculture Orientation Index (AOI) of India is one of the lowest, reflecting that the spending towards the agricultural sector is not commensurate with the sector’s contribution towards GDP.
The overall budgetary allocation towards the agricultural sector has marginally increased by 4.4% in the Union Budget 2022-23. However, the rate of increase is lower than the current inflation rate of 5.5%-6%.
The intensification in government spending towards the agricultural sector is the key to attain the sustainable development goals of higher agricultural growth and farm income. The focus on development of irrigation facilities, urban infrastructure and development of national highways must be complemented with an emphasis on the development of rural infrastructure and rural transportation facilities, along with an increase in the number of markets.
This data story aims to present a picture of budgetary allocations made to agricultural sector in budget 2022.
Verifying, please be patient.