Presenting the 2024 Union Budget, Finance Minister Nirmala Sitharaman announced an allocation of Rs 1.52 lakh crore for agriculture and allied sectors for the fiscal year 2025. Highlighting her seventh consecutive budget presentation, Sitharaman outlined several initiatives focused on sustainable practices, digital infrastructure, and increased agricultural production.
The 2024 Union Budget has put a significant focus is on promoting natural farming, with plans to initiate one crore farmers into these practices over the next two years. This move aims to enhance sustainable agricultural methods, reducing dependence on chemical fertilizers and pesticides.
ALSO READ: Focus on 9 key areas: 2024 Union Budget to lay groundwork for future budgets, says Nirmala Sitharaman
Natural farming is expected to improve soil health, boost biodiversity, and lower cultivation costs, thereby increasing farmers’ profitability.
In addition, the government will promote large-scale vegetable production clusters in strategic locations to boost production and ensure a steady supply of vegetables across the country.
Key Announcements
Natural Farming: Initiating one crore farmers into natural farming to promote sustainable agricultural practices.
Vegetable Production Clusters: Establishing large-scale clusters to boost production and ensure a steady supply across the country.
Agricultural Research: Comprehensive review of agricultural research with a focus on developing climate-resilient crop varieties. The release of 109 high-yielding, climate-resilient crop varieties to farmers.
ALSO READ: No special category status for Bihar, confirms Centre; RJD criticises JDU, Nitish Kumar
Bio-Input Centres: Establishing 10,000 need-based bio-input centers to strengthen the production, storage, and marketing of oil seeds.
Digital Public Infrastructure: In partnership with state governments, promoting digital frameworks to provide farmers with access to vital information, including weather forecasts, crop advisory services, and market prices.
Digital Crop Survey: Implementing a digital crop survey for Kharif crops in 400 districts in FY25.
Jan Samarth-based Kisan Credit Cards: Enabling issuance in five states to support farmers financially.
Shrimp Farming: Facilitating financing for shrimp farming, processing, and export through NABARD.
Join us on WhatsApp, click here
“The Budget envisages sustained efforts on nine priority areas for generating ample opportunities for all. Future budgets will build on these priorities of the 2024 Budget,” Sitharaman said, emphasizing the long-term vision set by the current budget.
This comprehensive approach aims to not only bolster agricultural productivity but also ensure sustainability and resilience in the sector, aligning with the broader goals of the Modi 3.0 government.
