The Aryavarth Express
Agency(New Delhi): The Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman, presented the Interim Budget 2024-25, placing a strong emphasis on farmer welfare and rural demand enhancement. Acknowledging farmers as the nation’s ‘Annadata’, the Finance Minister highlighted the government’s commitment to periodically increasing Minimum Support Prices for farmers’ produce.
Key aspects of the budget include direct financial assistance to 11.8 crore farmers under the PM-KISAN SAMMAN Yojana, and crop insurance for 4 crore farmers under the PM Fasal Bima Yojana. These initiatives, along with several other programs, aim to assist farmers in their food production efforts, contributing to national and global food supply while addressing domestic food security concerns through free ration distribution to 80 crore people.
A major focus of the budget is on value addition in the agricultural sector and the enhancement of farmers’ incomes. The Finance Minister pledged to promote both private and public investment in post-harvest activities. This includes aggregation, modern storage solutions, efficient supply chains, as well as primary and secondary processing, and marketing and branding. These measures are intended to accelerate growth in agriculture and the food processing sector.
The Finance Minister also mentioned the Pradhan Mantri Formalisation of Micro Food Processing Enterprises Yojana, which has supported 2.4 lakh Self-Help Groups (SHGs) and sixty thousand individuals with credit linkages. Other schemes complement these efforts, aiming to reduce post-harvest losses, improve productivity, and increase incomes. The Pradhan Mantri Kisan Sampada Yojana, benefitting 38 lakh farmers and generating 10 lakh employment opportunities, and the Electronic National Agriculture Market, integrating 1361 mandis and serving 1.8 crore farmers, were also highlighted.
Regarding self-reliance in oilseed production, the budget outlines a strategy to achieve ‘atmanirbharta’ for various oilseeds, including mustard, groundnut, sesame, soybean, and sunflower. This strategy encompasses high-yielding variety research, modern farming techniques, market linkages, procurement, value addition, and crop insurance.
Furthermore, following the successful adoption of Nano Urea, the Finance Minister announced the expansion of Nano DAP application across various crops in all agro-climatic zones, marking another significant step in agricultural innovation and efficiency.