Budget 2024: Rs 1.52 lakh crore allocated for agri, allied sectors

New Delhi: Finance Minister Nirmala Sitharaman on Tuesday announced that Rs 1.52 lakh crore has been allocated for agriculture and allied sectors in the Budget for 2024-25 fiscal. Stating that agriculture was a key agenda of the government, she said productivity and resilience will be in focus when formulating policies.

In the next two years, one crore farmers will be initiated into natural farming, she said, adding that the government will support them in matters of certification and branding. The project will be implemented through scientific institutions and willing gram panchayats, for which 10,000 need-based bio-input resource centres will be established.

There would also be a comprehensive review of research to develop climate-resilient seeds. As part of the 100-day programme, 109 new seed varieties across 32 field and horticulture crops will soon be released.

“Our government will undertake a comprehensive review of the agriculture research set-up to bring the focus on raising productivity and developing climate-resilient varieties. Funding will be provided in challenge mode, including to the private sector. Domain experts, both from the government and outside, will oversee the conduct of such research,” she said.

The new announcements include Jan Samarth-based Kisan Credit Card in five states, finance through NABARD for shrimp farming and export. Financial support for setting up a network of Nucleus Breeding Centres for Shrimp Broodstocks will be provided, she said.

The government will introduce a national cooperation policy for the overall development of the country, Sitharaman said. Fast-tracking the growth of the rural economy and the creation of employment opportunities will be the policy goal, the minister said. The draft policy was submitted by a panel of experts, headed by former Union minister Suresh Prabbhu, last fiscal.

Presenting the Budget for 2024-25, she said the Centre will promote digital public infrastructure for agriculture in partnership with states. The details of six crore farmers and their lands will be entered into registries over the next three years, she said, adding that a digital crop survey would be undertaken in 400 districts from the current Kharif season.

The government is taking measures to increase the supply of fruits and vegetables in the market, she said, adding that large-scale vegetable clusters would be developed closer to major consumption centres. “We will promote Farmer-Producer Organizations (FPOs), cooperatives and start-ups for vegetable supply chains including for collection, storage, and marketing,” she said.

She also repeated the mission for pulses and oilseeds production, including a strategy to make the country self-sufficient in mustard, groundnut, sesame, soyabean and sunflower production.