Policy

9 measure FM Proposes for Agriculture and Allied Sectors in the Budget

In a slew of steps to support the agriculture sector, Nirmala Sitharaman proposes 9 measures for agriculture sector as part of inclusive development while presenting the Union Budget 2021-22
9 measure FM Proposes for Agriculture and Allied Sectors in the Budget
9 measure FM proposes for agriculture and allied sectors in the Budget (Representative Image: Shutterstock)

In a slew of steps to support the agriculture sector, Union Finance Minster Nirmala Sitharaman announced 9 measures for agriculture sector as part of inclusive development for aspirational India while presenting the Union Budget 2021-22 in Parliament today.

1. SWAMITVA Scheme

Sitharaman proposed to extend SWAMITVA scheme to all states and union territories. Earlier this year, Prime Minister Narendra Modi had launched SWAMITVA scheme to bring transparency in property ownership in villages. Under the scheme, a record of rights is being given to property owners in the villages. Up till now, about 1.80 lakh property-owners in 1,241 villages have been provided cards.

2. Agricultural Credit Target Enhanced to Rs 16.5 Lakh Crore in FY22

To provide adequate credit to the farmers, the Finance Minister enhanced the agricultural credit target to Rs 16.5 lakh crore in FY22. Sitharaman further said that the Government would focus on ensuring increased credit flows to animal husbandry, dairy, and fisheries.

3. Micro Irrigation Fund Doubled

Sitharaman proposed to double Micro Irrigation Fund, started with a corpus of Rs 5,000 crore under National Bank for Agriculture and Rural Development (NABARD), by augmenting it by another Rs 5,000 crore.

4. 33% Increase Rural Infrastructure Development Fund

The Finance Minister also enhanced the allocation to the Rural Infrastructure Development Fund from Rs 30,000 crore to Rs 40,000 crore.

5. Operation Green Scheme

To boost value addition in agriculture and allied products and their exports, Sitharaman proposed to increase the scope of ‘Operation Green Scheme’ that is presently applicable to tomatoes, onions, and potatoes (TOPS), to be enlarged to include 22 perishable products.

6. e-NAM: 1,000 More Mandis to be Integrated

The Finance Minister said that around 1.68 crore farmers are registered and Rs 1.14 lakh crore of trade value had been carried out through e-National Agriculture Market (e-NAM). Keeping in view the transparency and competitiveness that e-NAM has brought into the agricultural market, the Finance Minister proposed to integrate 1,000 more mandis with e-NAM to bring transparency and competitiveness.

7. APMCs to Get Access to Agriculture Infrastructure Fund

The Finance Minister proposed to make available the Agriculture Infrastructure Fund to Agricultural Produce Market Committee (APMCs) for augmenting their infrastructure facilities.

8.Proposes to Develop 5 Major Fishing Harbours

Sitharaman proposed substantial investments in the development of modern fishing harbours and fish landing centres. The Finance Minister said that to start with, 5 major fishing harbours – Kochi, Chennai, Visakhapatnam, Paradip, and Petuaghat – will be developed as hubs of economic activity. Sitharaman also proposed to develop inland fishing harbours and fish-landing centres along the banks of rivers and waterways.

9. Multipurpose Seaweed Park

Recognising the potential in Seaweed farming, the Finance Minister said, it is an emerging sector with potential to transform the lives of coastal communities – it will provide large scale employment and additional incomes. To promote seaweed cultivation, Sitharaman proposed a Multipurpose Seaweed Park to be established in Tamil Nadu.

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