To realize the long term goal targeted by the Narendra Modi govt to double farmer's income by 2022 when India will be celebrating its 75th independence year, the Union Budget 2018 wants farmers to earn 150% income on their cost of produce.
For the Kharif crop, MSP or minimum support price shall be pegged at 1.5 times the cost of produce.
Niti Aayog shall be worked with to provide better price realisation to participants in the agri enterprise.
Agricultural market fund will be set for Rs. 2000 crore.
The cluster based approach shall be adopted for horticulture and agri-crops for increasing the economies of operations.
Allocation of Rs. 10000 crore for fisheries, aquaculture and animal husbandry.
Focus shall be rendered towards creating both farm as well as non-form employment opportunities for farmers. And to undertake farming activities at low cost.
The total agri credit for the FY 2019 shall be Rs. 11 lakh crore.
Grameen agricultural market will enable the farmers to sell their agricultural produce directly to buyers, he said.