Budget 2018 prioritises farmers: Chattisgarh CM

Chattisgarh Chief Minister Raman Singh had lauded the Centre for a pro-farmer and pro-people budget.

On Thursday, Singh, in a statement, said, "The budget focuses on 80 percent of the country's population especially the farmers and poor people. Farmers of the country have been given the priority."

The new budget has been mooted as farmers and poor-people friendly and lauded by MSME's and agricultural sector.

He took to Twitter and said, "Government of India is firmly committed to realise PM Narendra Modiji's vision of doubling farmer income by 2022."

Finance minister Arun Jaitley allocated around Rs 14.34 trillion for the development of rural infrastructure and to provide economic support to the farmers.

He announced a minimum support price for all the notified Kharif crops which will be 1.5 times the input cost. The farmers were also assured of a 50 percent return over over-production costs for crops, though the route for the same has not been defined.

To reduce the pressure of loans in the farming sector, the budget includes setting up of two separate funds of Rs. 10,000 crores for building infrastructure for fishery, aquaculture and animal husbandry.

In favour of the small farmers holding lands less than 0.5 hectares, a 100 percent deduction is given to Farmers Producer Organization for next five years.

The budget also mentions liberalizing exports of agricultural commodities.