Budget 2024: Agriculture sector to get ₹1.52 lakh crore allocation, announces FM Nirmala Sitharaman

Finance Minister Nirmala Sitharaman presented the Union Budget 2024 on July 23. While presenting the Budget 2024, the Finance Minister said that ₹1.52 lakh crore will be allocated for the agriculture sector. The minister further added that the government will release 109 new high-yielding, climate-resistant seeds for 32 field and horticultural crops.

” ₹“The Rs 1.52 lakh crore earmarked for the farm sector could impact rural automobile demand, especially two-wheelers and entry-level tractors,” the finance minister said.

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She added, “New 109 high yielding and climate resilient varieties of 32 field and horticultural crops will be made available for cultivation by farmers. In the next 2 years, 1 crore farmers will be introduced to organic farming, supported by certification and branding…”

The finance minister also added that the government in collaboration with the states will promote digital public infrastructure for agriculture.