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Budget 2024 for Agriculture Sector
What are the top expectations for the Agriculture Sector in the upcoming Interim Budget 2024-2025? Click on to financialexpress.com and get a comprehensive idea on our dedicated page Who Gets What. Navigate through a handy ready reckoner, meticulously crafted to provide a glance at previous Budgets declarations for the sector.
Budget 2024 Announcements for Agriculture Sector
Agriculture Sector
- Funds for 11.8 crore farmers including marginal and small farmers
- Crop Insurance- 4 crore farmers under PM Fasal Yojna
- 38 lakh farmers Schemes have been created to reduce post-harvest losses
- A strategy will be formulated- Aatmanirbharta for oil seeds
- Comprehensive program for supporting dairy farmers will be launched National Gokul Mission, national livestock mission
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Budget Announcements for Agriculture Sector in FY2024
Agriculture Sector
- Launch of Agriculture Accelerator Fund to aid rural agri-startups by young entrepreneurs was announced.
- Construction of digital agri-infrastructure for inclusive farmer solutions and agri-tech support was notified.
- Increase in cash deposit and loan limits to Rs. 2 lakh/member for PACS and PCARDBs was also declared.
Budget Announcements for Agriculture Sector in FY2023
Agriculture Sector
- An increase of 4.5% over the revised estimates of 2021-22 was announced.
- A fund set up to finance start-ups relevant to farm produce supply chains, under the co-investment model was notified
- Agriculture and rural startups will receive funds from NABARD.
Budget Announcements for Agriculture Sector in FY2022
Agriculture Sector
- New Agriculture and Infrastructure Development Cess to finance agricultural infrastructure and development will apply to imports like cotton, coal, gold, silver, alcoholic beverages, petrol, and diesel.
- Agriculture Infrastructure Fund expansion was notified to aid Agriculture Produce Market Committees (APMCs) and integration of 1,000 more mandis with e-NAM.
- Operation Green Scheme's extension to cover 22 perishable products for increased value addition and export promotion.
Budget Announcements for Agriculture Sector in FY2021
Agriculture Sector
- Allocation of Rs. 1.60 lakh crore for Agriculture, Irrigation & allied activities
- Promotion of balanced use of fertilizers and innovative fertilizers was notified.
- Measures were declared for organic, natural, and integrated farming, including Jaivik Kheti Portal.
- Expansion of Integrated Farming Systems in rain-fed areas was announced
- The addition of multi-tier cropping, bee-keeping, solar pumps, and solar energy production in non-cropping season was also announced.
Budget Announcements for Agriculture Sector in FY2020
Agriculture Sector
- It has been announced that all farmers impacted by severe natural calamities, receiving assistance from the National Disaster Relief Fund (NDRF), will now receive the benefit of a 2% interest subvention and a prompt repayment incentive of 3% for the entire rescheduled loan period.
- An assured MSP of minimum 50% to all 22 crops was also declared
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