Budget continues its focus on doubling farm income

Major push to lift the farm income

Government started with the objective to improve the farm income by 2x by 2022. In the very direction government is planning to provide 1.5x of the cost of produce as the minimum support price. This was earlier applicable for Rabi crops and has been extended to all crops.

1)      Cluster based approach for manufacture of horticulture and agriculture

2)      Krishi Aampada Yojna – a food processing initiative is now going to attract more investment

3)      Operation green – Agrilogistics and warehousing– sum of Rs500cr allocated for the same.

4)      State of art facility for exports in mega food parks to help food storage and processing

5)      Kisan credit cards to be extended to animal husbandry.

6)      Bamboo production to be encouraged, higher emphasis on the same and allocated Rs1290cr for this.

7)      Encourage solar pumps and help to route the excess solar electricity to discoms

8)      Fishery and aquaculture and animal husbandry infra fund Rs10,000cr

9)      Investment extended from 8.5lac to 11lak cr for institution credit to farm sector

10)   Machinery for the crop residual to control pollution

We see these initiatives to provide alternative income to farmers in terms of lean times. Also stress on organic farming to improve the soil quality and reduce the cost associated with insecticides and pesticides.