Budget 2024: Govt allocates Rs 1.52 trillion for agriculture and allied sectors

In her seventh budget presentation, Finance Minister Nirmala Sitharaman focused on sustainable practices, digital infrastructure and increasing manufacturing

Kamrup: A farm worker carries paddy seedlings for planting in a farm field in Assam’s Kamrup district, Tuesday, July 16, 2024. (Photo: PTI)

Nandini Singh New Delhi

Union Finance Minister Nirmala Sitharaman, while presenting the Union Budget 2024 today, announced a substantial allocation of Rs 1.52 lakh crore for agriculture and allied sectors in fiscal 2025. The Finance Minister added that 10 million farmers will be introduced to natural farming practices in the next two years.

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In her seventh consecutive budget presentation, Sitharaman unveiled initiatives focusing on sustainable practices, digital infrastructure and increased manufacturing.

The shift towards natural farming aims to promote sustainable farming practices and reduce dependence on chemical fertilizers and pesticides. Natural farming improves soil health and biodiversity while reducing the cost of cultivation for farmers, thereby increasing their profitability.

Sitharaman also announced the government’s plan to promote large-scale vegetable production clusters. These clusters will be strategically established to increase production and ensure steady supply of vegetables across the country.

Climate-Resilient Crops and Digital Farming

“The government will conduct a comprehensive review of agricultural research and focus on developing climate-resilient varieties in agriculture,” Sitharaman said, adding, “We will make 109 new high-yielding, climate-resilient varieties available to farmers. Moreover, 10,000 need-based bio-input centres will be set up to strengthen production, storage and marketing of oilseeds.”

The finance minister further announced that the government will promote digital public infrastructure in partnership with state governments. This digital framework will provide farmers with access to key information such as weather forecasts, crop advisory services and market prices.

“Digital crop survey for Kharif will be conducted in 400 districts in fiscal 2025. Issuance of Jan Samarth-based Kisan Credit Cards will be enabled in five states. Financing for shrimp farming, processing and export will be facilitated through National Bank for Agriculture and Rural Development (NABARD),” she announced.