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Union Budget 2020: Major Announcements for Agriculture

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In her second budget presentation session, the Finance Minister Nirmala Sitharaman has announced a slew of measures to uplift the ailing agricultural sector. The Union Budget 2020 has announced the following set of 16 point guide to make India an aspirational economy.

She also noted that the farmer's income will be doubled by 2022.

Union Budget 2020: Major Announcements for Agriculture
 

The following is the list of actions points for farmers:

Prosperity to farmers which can be ensured through competition.

  • Farm Markets need to be liberalized
  • Encouraging balanced use of all types of fertilizers
  • Focus on the cultivation of pules which has raised India's self-reliance
  • Distortion to farm, livestock markets need to be removed
  • Farmers can convert barren land to solar farms
  • Promote 20 lakh farmers to set up solar-powered pumps
  • Help 15 lakh farmers to solarise grid-connected farms
  • Propose to expand PM Kusum scheme, which will help remove farmer's dependence on kerosene
  • Necessary to reduce excessive use of chemical fertilizers.
  • 'Krishi Udan' to be launched for Domestic and International Routes
  • Facilitate the doubling of milk production capacity
  • MNREGA to be dovetailed to create fodder farms
  • Aims to give high focus at the district level for horticultural produce
  • Indian Railways to set up Kisan Rail to boost Cold Supply Chain
  • Village storage scheme to be run by Self-help groups
  • NABARD to map and Geotag Land available for Agriculture warehousing
  • India has an estimated capacity of 152 million MT of agricultural warehousing
  • Aims to raise fish production to 200 lakh tonnes
  • Livestock and fishery industries need to be handheld
  • Horticulture Sector with 311 Million MT exceeds food grain production
  • Provide Viability gap funding for warehousing

This time the government has proposed spending for agricultural and rural area to the tune of Rs 2.83 lakh crore. For fiscal 2021, the Agriculture Credit Target is set at Rs 15 lakh crore.

Schemes for Rural Development

The FM also announced Viability gap funding for the creation of efficient warehouses on PPP mode; Self Help Group (SHGs) run Village storage scheme to be launched; integration of e-NWR with e-NAM.

 

Launching of Kisan Rail and Krishi Udaan by the Indian Railways and Ministry of Civil Aviation respectively for a seamless national cold supply chain for perishable food. FM announced the elimination of FMD and brucellosis in cattle and PPR in sheep and goat by 2025; increasing coverage of artificial insemination to 70%; doubling the milk processing capacity by 2025 and fixed the agricultural credit target at Rs 15 lakh crore for 2020-21.

The government aims to promote fish production and has accordingly set a target of 200 lakh tonnes by 2022-23. Another 45000 acres of aquaculture to be supported. Fishery extension through 3477 Sagar Mitras and 500 fish FPOs to be done. Government is working to raise the fishery exports to Rs 1 lakh crore by 2024-25.

Read more about: budget 2020
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