Budget 2024: Govt sets aside Rs 1.52 trn for agriculture, allied sectors

In her seventh Budget presentation, Finance Minister Nirmala Sitharaman focused on sustainable practices, digital infrastructure, and boosting production

Union Finance Minister Nirmala Sitharaman, presenting the 2024 Union Budget today, announced a substantial allocation of Rs 1.52 lakh crore for agriculture and allied sectors in FY25. The Finance Minister added that over the next two years, 10 million farmers will be introduced to natural farming practices.

In her seventh consecutive Budget presentation, Sitharaman outlined initiatives focusing on sustainable practices, digital infrastructure, and increased production.

The shift towards natural farming aims to promote sustainable agricultural practices and reduce dependency on chemical fertilisers and pesticides. Natural farming enhances soil health and biodiversity while reducing cultivation costs for farmers, thereby increasing their profitability.

Sitharaman also announced the government’s plan to promote large-scale vegetable production clusters. These clusters will be strategically established to boost production and ensure a steady vegetable supply across the country.

Climate-resilient crops and digital farming
 

“The government will undertake a comprehensive review of agricultural research and focus on developing climate-resilient varieties in agriculture,” Sitharaman said, adding, “New 109 high-yielding, climate-resilient varieties will be released to farmers. Additionally, 10,000 need-based bio-input centres will be established to strengthen the production, storage, and marketing of oilseeds.”
 

The Finance Minister further announced that the government would promote digital public infrastructure in partnership with state governments. This digital framework will provide farmers with access to vital information, such as weather forecasts, crop advisory services, and market prices.
 

“A digital crop survey for Kharif will be conducted in 400 districts in FY25. The issuance of Jan Samarth-based Kisan Credit Cards will be enabled in five states. Financing for shrimp farming, processing, and export will be facilitated through the National Bank for Agriculture and Rural Development [NABARD],” she announced.