 | « Back to article | Print this article |
Finance Minister Nirmala Sitharaman on Saturday announced six new schemes and increased the subsidised Kisan Credit Card (KCC) loan limit to Rs 7 lakh from Rs 5 lakh, targeting everything from unemployment to crop productivity enhancement across the country.
Presenting her eighth budget speech in Parliament, Sitharaman positioned agriculture as "the first engine of growth" and unveiled the Prime Minister Dhan-Dhaanya Krishi Yojana, a flagship program targeting 100 agri-districts grappling with low productivity, moderate crop intensity, and below-average credit parameters.
The scheme, to be implemented in partnership with state governments, is expected to benefit 1.7 crore farmers through enhanced agricultural productivity, crop diversification, and improved post-harvest infrastructure.
To address rural unemployment, the government will implement a comprehensive 'Rural Prosperity and Resilience' programme.
"The goal is to generate ample opportunities in rural areas so that migration is an option, but not a necessity," Sitharaman said.
The program will focus specifically on rural women, young farmers, rural youth, marginal and small farmers, and landless families.
In a major push for self-reliance in pulses production, a six-year mission will focus on boosting tur, urad, and masoor output. Under this initiative, cooperatives Nafed and NCCF will procure pulses for four years from registered farmers who enter into agreements with these agencies.
For Bihar's makhana sector, a dedicated Makhana Board will be established to improve production, processing, and marketing.
The board will organise farmers into FPOs and provide training support while ensuring access to government scheme benefits.
The FM announced a significant enhancement in KCC benefits, raising the subsidised short-term loan limit from Rs 3 lakh to Rs 5 lakh for 7.7 crore farmers, fishermen, and dairy farmers.
A new research ecosystem mission will focus on developing and propagating high-yield, pest-resistant, and climate-resilient seeds, with plans to commercially release more than 100 seed varieties introduced since July 2024.
Additionally, a five-year cotton mission will work on improving productivity and promoting extra-long staple cotton varieties, supporting India's integrated 5F vision for the textile sector.
Recognising India's position as the second-largest global producer in fish and aquaculture, with seafood exports worth Rs 60,000 crore, the government will introduce a framework for sustainable fishing in the Indian Exclusive Economic Zone and High Seas, particularly focusing on the Andaman & Nicobar and Lakshadweep Islands.
The announcements also included plans for a new urea plant in Namrup, Assam, with an annual capacity of 12.7 lakh tonnes, and enhanced support to the National Cooperative Development Corporation (NCDC) for cooperative sector lending operations.
In the horticulture sector, a comprehensive programme will be implemented to promote production, efficient supply chains, processing, and remunerative prices for farmers growing vegetables, fruits, and Shree anna, responding to increasing consumption patterns driven by rising income levels.
The initiative will be implemented in partnership with states, involving farmer-producer organisations and cooperatives through appropriate institutional mechanism.