In keeping with the Narendra Modi government’s focus on the agriculture sector, Finance Minister Nirmala Sitharaman allocated Rs 1.52 lakh crore for agriculture and allied sectors in Budget 2024-25.
Sitharaman also emphasised the importance of research and development in the agriculture sector.
She said that the Centre will promote digital public infrastructure for agriculture in partnership with states, while Jan Samarth-based Kisan Credit Card will be introduced in five states.
“Also, the government will provide finance for shrimp farming and marketing,” she added.
To bolster the supply chain of vegetables, the Budget proposed the development of large-scale clusters for vegetable production near major consumption centres.
The FM said that large-scale vegetable production will be developed closer to major consumption centres.
“We will promote farmer producer organisations, coops and startups for vegetable supply chains. We will promote farmer producer organisations, co-operatives and startups for vegetable supply chains including for collections, storage and marketing,” she said.
The Finance Minister announced 109 high-yielding and climate resilient varieties of 32 field and horticulture crops to be released for cultivation for benefiting farmers and strengthening food security.
She said the government will facilitate implementation of Digital Public Infrastructure (DPI) in agriculture, in partnership with the states.
Sitharaman announced a three-year plan to facilitate the digital public infrastructure for agriculture, aiming to cover farmers and their lands comprehensively.
“Our government will facilitate the digital public infrastructure (DPI) in agriculture for coverage of farmers and their lands in 3 years. During this year, a digital crop survey for Kharif using the DPI will be taken up in 400 districts,” the FM said.
Recognizing the potential of aquaculture, the Budget provided financial support for setting up a network of nucleus breeding centers for shrimp broodstocks.
Financing for shrimp farming and exports will be facilitated through the National Bank for Agriculture and Rural Development (NABARD), aiming to boost this lucrative sector, the FM said.
