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Budget 2024 for Farmers
What are the top expectations for a Farmers from the upcoming Interim Budget 2024-2025? Whatever the profession you are in financialexpress.com has listed all the benefits for each profile on its dedicated page Who Gets What. Navigate through all the declarations and announcements at a glance from the current and past Union Budgets on this page.
Budget 2024 Announcements for Farmers
Farmers
- Farmers are our ‘Annadata’. Every year, under PM-KISAN SAMMAN Yojana, direct financial assistance is provided to 11.8 crore farmers, including marginal and small farmers.
- Crop insurance is given to 4 crore farmers under PM Fasal Bima Yojana.
- Electronic National Agriculture Market has integrated 1361 mandis, and is providing services to 1.8 crore farmers with trading volume of ` 3 lakh crore.
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Budget Announcements for Farmers in FY2024
Farmers
- PM Pranam scheme will be introduced for farmers which will give them access to better fertilizers
- Agriculture Accelerator Fund will be set-up to bring affordable solutions for challenges faced by farmers.
- Plan to set up decentralised storage capacity so farmers can store produce.
- 1 crore farmers to be supported to adopt natural farming; 10,000 bio input resource centres & network for distributing micro fertilizer and pesticide manufacturing to be set up.
Budget Announcements for Farmers in FY2023
Farmers
- Promotion of chemical-free natural farming, initially focused on lands near the Ganga river owned by farmers.
- Encouraging post-harvest value addition, consumption, and branding of millet products.
- Providing digital and hi-tech services to farmers through public-private partnerships.
- Utilization of Kisan Drones to assist farmers in their agricultural activities.
- Launching fund with blended capital to finance agriculture startups.
Budget Announcements for Farmers in FY2022
Farmers
- Ensured MSP at a minimum of 1.5 times production cost for all commodities.
- SWAMITVA Scheme expansion to cover all States/UTs, with 1.80 lakh property owners in 1,241 villages already issued property cards.
- Doubling Micro Irrigation Fund to Rs. 10,000 crore.
- Integration of 1,000 more mandis with e-NAM for transparency and competitiveness.
- Access to Agriculture Infrastructure Funds for APMCs to enhance infrastructure facilities.
Budget Announcements for Farmers in FY2021
Farmers
- Allocation of Rs. 1.60 lakh crore for Agriculture, Irrigation & allied activities.
- PM-KISAN beneficiaries included in the KCC scheme.
- Expansion of NABARD Re-finance Scheme.
- Establishment of Kisan Rail for national cold supply chain
- Introduction of Krishi Udaan for national and international routes.
- Enhanced value realization for North-East and tribal districts in agriculture.
- Implementation of One-Product One-District in Horticulture sector.
- Promotion of balanced use of fertilizers and innovative fertilizers.
- Measures for organic, natural, and integrated farming, including Jaivik Kheti Portal.
- Expansion of Zero-Budget Natural Farming and Integrated Farming Systems.
- PM-KUSUM expansion targeting 20 lakh farmers with solar pumps and solarizing grid-connected pump sets.
- Scheme facilitating farmers to set up solar power generation on fallow lands for selling to the grid.
Budget Announcements for Farmers in FY2020
Farmers
- PM-KISAN launched to provide annual income support of Rs 6,000 to 12 crore small and marginal farmer families.
- Eligible farmers with land up to 2 hectares receive aid directly in three equal installments annually.
- Finance Minister declared a 2% interest subvention for farmers in animal husbandry and fisheries using the Kisan Credit Card for loans. Additionally, timely repayment enables 3% interest subvention.
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