New Agricultural Schemes Propel India Towards Self-reliance

Finance Minister Nirmala Sitharaman unveiled six new agricultural schemes to boost productivity and rural prosperity, including enhanced subsidies and targeted initiatives for diverse sectors like fishery and horticulture. The budget aims to empower millions of farmers and bolster India's position in global markets despite a lowered overall allocation.

In a significant move to elevate agri-productivity and enhance rural prosperity, Finance Minister Nirmala Sitharaman announced six fresh agricultural schemes on Saturday. The Kisan Credit Card loan limit was increased from Rs 3 lakh to Rs 5 lakh, directly benefiting 7.7 crore farmers, fishermen, and dairy farmers.

Although the government proposed a 2.75% lower Budget allocation, pegged at Rs 1.37 lakh crore for the agriculture ministry in the next fiscal, this was balanced by increased funding for allied sectors. Notably, fisheries, animal husbandry, and dairying budgets received a substantial 37% boost, reaching Rs 7,544 crore, while food processing allocations increased by 56% to Rs 4,364 crore.

Highlighting agriculture as 'the first engine of growth,' Sitharaman's eighth budget speech introduced the Pradhan Mantri Dhan-Dhaanya Krishi Yojana targeting 100 low-productivity districts. This initiative, implemented with state governments, aims to increase productivity, diversify crops, and improve post-harvest infrastructure, benefiting 1.7 crore farmers. Additionally, the government introduced a six-year pulses mission with a Rs 1,000 crore allocation to enhance the production of tur, urad, and masoor, focusing on self-reliance in staple food crops.