Budget 2024-25: FM allocates ₹1.52 lakh cr for agri, allied sectors

Finance Minister Nirmala Sitharaman on Tuesday announced that ₹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 there would 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.

The new announcements include Jan Samarth-based Kisan Credit Card in five states, finance through NABARD for shrimp farming and export, and digital crop survey in 400 districts, beginning starting from the current Kharif season.

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. Besides, it will strengthen production, storage and marketing of pulses, she said.

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 promoted to increase production.

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.