The Modi Government has allocated Rs 1.27 lakh crore Budget for the Ministry of Agriculture for 2024-25, marginally higher than the current fiscal. According to the Budget document, the Agriculture Ministry has been allocated Rs 1,27,469.88 crore for 2024-25 financial year, of which the Department of Agriculture will get Rs 1,17,528.79 crore while the Department of Agricultural Research and Education (DARE) Rs 9,941.09 crore.
As per the revised estimates of the current fiscal, the department of agriculture has been allocated Rs 1,16,788.96 crore while the DARE Rs 9,876.60 crore.
The allocation for flagship PM-KISAN scheme under the department of agriculture remains unchanged for next fiscal at Rs 60,000 crore. Under this scheme, the government provides Rs 6,000 per year to farmers in three equal instalments. According to the budget papers, the Ministry of Consumer Affairs, Food & Public Distribution has been allocated Rs 2.13 lakh crore for the next fiscal year, lower than the 2023-24 allocation.
Presenting the interim budget, Union Finance Minister Nirmala Sitharaman said that every year, under PM-KISAN SAMMAN Yojana, direct financial assistance is provided to 11.8 crore farmers, including marginal and small farmers, while crop insurance is given to 4 crore farmers under PM Fasal Bima Yojana.
As per the document, the Ministry of Fisheries, Animal Husbandry and Dairying has been earmarked Rs 7,105.74 crore for the next fiscal.
Out of this, the department of fisheries’ allocation has been increased to Rs 2,584.50 crore in the next fiscal from Rs 1,701 crore in the current 2023-24 fiscal.
The department of animal husbandry and dairying has been allocated Rs 4,521.24 crore in 2024-25 from Rs 3,913.93 crore in the current fiscal.
Enumerating the benefits of the agriculture schemes implemented by the Modi government in her interim budget speech, Finance Minister Nirmala Sitharaman on Thursday, touted that the PM Kisan SAMPADA (Scheme for Agro-Marine Processing and Development of Agro-Processing Clusters) Yojana has benefited 38 lakh farmers and assisted 2.4 lakh self-help groups (SHGs). The scheme uses modern infrastructure and supply chain management to ease the transfer of farm goods from farmers to retail outlets.
To attain the goal of a Viksit India by 2047, Sitharaman stressed the need to enhance people’s capabilities and empower them. Aligning with Prime Minister Narendra Modi’s four major focus areas, namely ‘Garib’ (Poor), ‘Mahilayen’ (Women), ‘Yuva’ (Youth), and ‘Annadata’ (Farmer), she asserted that their needs, aspirations, and welfare take precedence.
She stated that these, besides several other programmes, are assisting ‘Annadata’ in producing food for the country and the world and added that the worries about food have been eliminated through free ration for 80 crore people.
Sitharaman mentioned that Pradhan Mantri Kisan Sampada Yojana has benefitted 38 lakh farmers and generated 10 lakh employment. The Finance Miniser said Electronic National Agriculture Market has integrated 1361 mandis, and is providing services to 1.8 crore farmers with trading volume of Rs 3 lakh crore.
To reduce dependence on imports of edible oils to meet domestic demand, the interim Budget also proposes that a strategy will be made to make the country self-reliant by boosting domestic production of oilseeds.
“Building on the initiative announced in 2022, a strategy will be formulated to achieve ‘atmanirbharta’ for oilseeds, such as mustard, groundnut, sesame, soybean, and sunflower. This will cover research for high-yielding varieties, widespread adoption of modern farming techniques, market linkages, procurement, value addition, and crop insurance,” Sitharaman said.
Industry leaders expressed optimism and anticipation in response to the budget. Dr. KC Ravi, Chief Sustainability Officer at Syngenta India Pvt Ltd & Chairman, CropLife India, praised the government’s focus on infrastructure. Ajai Rana, Chairman of Federation of Seed Industry of India (FSII) and CEO and Managing Director of Savannah Seeds, commended the vision for making India Viksit by 2047. Siba P Mohanty, Managing Director of Hindustan Urvarak & Rasayan Limited (HURL), applauded the adoption of Nano Urea and the announcement by FM on expansion of Nano DAP application across agro climatic zones.