Budget announces new irrigation scheme for growers

Price stabilisation fund to tackle inflation

In a bid to boost farm production and cut post-harvest losses, Finance Minister Arun Jaitley today announced a slew of measures which included concessional loans to landless growers, a new national scheme to promote irrigation, a separate television channel for farmers. Delivering his maiden Budget Speech, Jaitley also announced the constitution of a price stabilization fund with an initial allocation of Rs 500 crore and restructuring of the Food Corporation of India (FCI) to check food inflation. He also assured to release as much as wheat and rice required in the open market to cool ...