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    Union Budget 2024-25 Propels Agriculture with ₹1.52 Lakh Crore Allocation

    AgricultureAgri-businessUnion Budget 2024-25 Propels Agriculture with ₹1.52 Lakh Crore...
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    Union Budget 2024-25 Propels Agriculture with ₹1.52 Lakh Crore Allocation

    Land reforms are expected to streamline land administration and planning, facilitating easier access to agricultural services and improving urban local body finances. Digital infrastructure for crop survey will be undertaken for kharif crops in 400 districts.

    The Union Budget 2024-25, presented today by Finance Minister Nirmala Sitharaman, has earmarked ₹1.52 lakh crore for the agriculture and allied sectors, with a strong emphasis on enhancing productivity, sustainability, and resilience. Key measures announced include digital crop surveys, development of vegetable production clusters, and initiatives to achieve self-sufficiency in oilseeds.

    Nirmala Sitharaman said that the government will undertake a comprehensive review of the agriculture research setup to bring the focus on raising productivity and developing climate resilient varieties. While presenting the Union Budget 2024-2025 in Parliament today, she said funding will be provided in challenge mode, including to the private sector.

    “We’ve announced a high MSP for all major crops, ensuring at least a 50 per cent margin over cost. The PM Garib Kalyan Anna Yojana is extended for five years, benefiting over 800 million people,” Finance Minister Nirmala Sitharaman said.

    Digital Crop Survey

    Highlighting the government’s commitment to digital transformation in agriculture, Sitharaman announced the rollout of Digital Public Infrastructure (DPI) for agriculture. This initiative aims to digitally survey Kharif crops in 400 districts this year alone, integrating details of six crore farmers and their lands into registries. The move is expected to streamline agricultural processes and facilitate faster access to benefits such as Jan Samarth based Kisan Credit Cards in five states.

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    Land Reforms

    Looking ahead, the budget sets a clear roadmap for land reforms, incentivizing actions in rural and urban areas to enhance credit flow and agricultural services. Measures include digitization of land records with GIS mapping in urban areas and the assignment of Unique Land Parcel Identification Numbers (ULPIN) for rural lands. These reforms are expected to streamline land administration and planning, facilitating easier access to agricultural services and improving urban local body finances.

    Oilseeds and Vegetable Production Clusters

    In a bid to achieve ‘atmanirbharta’ (self-reliance) in oilseeds like mustard, groundnut, and sunflower, the budget outlines a comprehensive strategy to boost their production, storage, and marketing capabilities. Additionally, large-scale clusters for vegetable production will be established closer to major consumption centers, bolstering supply chains and promoting Farmer-Producer Organizations (FPOs) and cooperatives.

    Support for Shrimp Farming

    The budget also addresses environmental concerns and economic opportunities in aquaculture. Sitharaman announced financial support for establishing a network of Nucleus Breeding Centres for Shrimp Broodstocks, aimed at boosting shrimp farming, processing, and export capabilities. The funding, facilitated through NABARD, underscores the government’s commitment to sustainable development and economic growth in the fisheries sector.

    Agricultural Research

    The budget also prioritizes agricultural research to develop high-yielding and climate-resilient crop varieties. A total of 109 new varieties across 32 crops will be released, aiming to boost agricultural productivity while mitigating climate risks. Additionally, one crore farmers will be transitioned to natural farming practices over the next two years, supported by bio-input resource centers and scientific institutions.

    Farmers

    Recognizing the crucial role of farmers in India’s economy, the budget outlines comprehensive measures to support agricultural growth and welfare. Sitharaman announced enhanced funding for agricultural infrastructure, irrigation projects, and market reforms aimed at boosting farm productivity and ensuring better returns for farmers. Additionally, provisions have been made to expand credit facilities and agricultural insurance, aimed at mitigating risks faced by farmers.

    Ministers’ Responses

    Union Minister of Agriculture and Farmers’ Welfare, Shivraj Singh Chouhan, hailed the budget as transformative for rural development and agriculture, emphasizing its potential to increase farmers’ incomes and strengthen rural infrastructure.

    Chouhan said that this budget fulfils the resolution of a developed India as it is going to bring revolutionary changes in the lives of farmers, women, youth and poor people. A PIB release quoted the minister as saying that, “this budget will further strengthen the resolve to increase farmers’ income, strong infrastructure, healthy India, good governance, opportunities for youth, education for all, women empowerment, inclusive development.”

    The Union Minister said that production, storage and marketing of crops will be strengthened, which will benefit farmers and also increase their income. To increase productivity as well as reduce input costs, one crore farmers will be linked to natural farming in the next two years, he said.

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