Budget 2024: FM Allocates Rs 1.52 lakh cr For Agri and Allied sectors

In the Budget 2024-05 presented, the finance minister Nirmala Sitharaman, allocated Rs 1.52 lakh crore for agriculture and allied sectors. The minister declared that 109 new high-yielding and climate-resilient varieties of 32 field and cultivation crops will be available to farmers in the upcoming financial year.

The Budget outlined 9 key focuses for the upcoming year, including productivity & resilience in agriculture. Sitharaman stated that the government will conduct a thorough assessment of research to create seeds that can withstand climate challenges. Additionally, the government will collaborate with states to enhance digital public infrastructure for agriculture.

It was declared that one crore farmers will be introduced to natural farming in the upcoming 2 years. The Finance Minister announced that Rs 2.66 lakh crore will be allocated for rural development. The Finance Minister mentioned that the government will conduct a thorough assessment of the agricultural research infrastructure in order to increase productivity and create varieties that are resilient to climate change.

It was announced that the research will be supervised by experts in the field to guarantee its efficacy and importance. The budget suggested creating large-scale clusters near major consumption centers to improve the vegetable supply chain.

The Finance minister revealed a three-year strategy to ease the digital public infrastructure for agriculture, with the goal of fully including farmers and their lands. She announced that a digital survey for Kharif crops will take place in 400 districts this year, incorporating the information of six crore farmers and their lands into farmer and land databases.

Acknowledging the possibilities of aquaculture, the budget allocates funds to establish a system of nucleus breeding centers for shrimp broodstocks. A new strategy for national collaboration will be implemented to guarantee the comprehensive, organized, and holistic advancement of the cooperative industry.