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Budget 2024 – Highlights

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Union Budget 2024-25: Key Provisions for Agriculture

Productivity and resilience in agriculture is first among the nine priority areas announced in the Union Budget 2024-25. This year, the Government has earmarked a sum of Rs. 1.52 lakh crore for agriculture and allied sector.

As part of measures to enhance productivity and resilience in Agriculture sector, the Union Budget has announced the following measures:

Transforming Agriculture Research: The Government will undertake a comprehensive review of the agriculture research setup to bring the focus on raising productivity and developing climate resilient varieties. Funding will be provided in challenge mode, including to the private sector. Domain experts both from the government and outside will oversee the conduct of such research.

Release of New Crop Varieties: New 109 high-yielding and climate-resilient varieties of 32 field and horticulture crops will be released for cultivation by farmers.

 Natural Farming: In the next two years, 1 crore farmers across the country will be initiated into natural farming supported by certification and branding. Implementation will be through scientific institutions and willing gram panchayats. 10,000 need-based bio-input resource centres will be established.

 Missions for Pulses and Oilseeds: For achieving self-sufficiency in pulses and oilseeds, the Government will strengthen their production, storage and marketing. A strategy is being put in place to achieve ‘atmanirbharta’ for oil seeds such as mustard, groundnut, sesame, soybean, and sunflower.

Vegetable Production & Supply Chains: Large scale clusters for vegetable production will be developed closer to major consumption centres. The Government will promote Farmer-Producer Organizations, cooperatives and start-ups for vegetable supply chains including for collection, storage, and marketing.

 Digital Public Infrastructure for Agriculture: The Union Government, in partnership with the states, will facilitate the implementation of the Digital Public Infrastructure (DPI) in agriculture for coverage of farmers and their lands in 3 years. During this year, digital crop survey for Kharif using the DPI will be taken up in 400 districts. The details of 6 crore farmers and their lands will be brought into the farmer and land registries. Further, the issuance of Jan Samarth based Kisan Credit Cards will be enabled in 5 states.

Shrimp Production & Export: Financial support for setting up a network of Nucleus Breeding Centres for Shrimp Broodstocks will be provided. Financing for shrimp farming, processing and export will be facilitated through NABARD.

 National Cooperation Policy: The Government will bring out a National Cooperation Policy for systematic, orderly and all-round development of the cooperative sector. Fast-tracking growth of rural economy and generation of employment opportunities on a large scale will be the policy goal.

References:

  1. Budget 2024-25, Speech of Hon’ble Finance Minister, 23rd July 2024 https://www.indiabudget.gov.in/doc/budget_speech.pdf
  2. Focus on Agriculture Research Setup for Raising Productivity and Developing Climate Resilient Varieties, Ministry of Finance, 23rd July 2024, Press Information Bureau
  3. Provision of ₹ 1.52 Lakh Crore for Agriculture and Allied Sector in Union Budget 2024-25, Ministry of Finance, 23rd July 2024, Press Information Bureau