 "Budget's thrust is on agriculture & rural development: MK Dhanuka")
The government’s effort towards giving special focus on the rural economy is a welcome step. The agriculture sector is expected to grow at 4.6 percent in 2017-18 over the previous year and Rs 10 lakh crores as credit to farmers will fuel this growth which is good news for the agri and allied sector players.
The flagship program of PM Narendra Modi for farmers - Fasal Bima Yojna - is a major step to secure farmers against natural calamities. Fasal Bima Yojana coverage is to be increased from current 30 percent to 40 percent in 2017-18 and 50 percent in 2018-19.
Setting up of soil testing labs in KVKs is another boost for the agriculture sector. These labs would help farmers to assess the actual nutritional requirements for their farmland and limit unnecessary expenditure on fertiliser. Additionally the micro-irrigation fund will benefit lakhs of farmers to proper and systemic irrigation facilities.
The government’s commitment to double farmer’s income in five years will improve farmer’s financial condition. Allocation of Rs 23,000 crore for PM Awas Yojna, setting up dairy processing infrastructure fund & plans to make 50000 gram panchayats poverty free by 2019 clearly demonstrate government’s thrust for agriculture & rural development.
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MK Dhanuka is the managing director of Dhanuka Agritech
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