As the Union Budget 2020 presentation is underway, Finance Minister Nirmala Sitharaman announced a 16-point action plan for farmers that will aim to double their income by the year 2022.
While comprehensive measures for 100 water-stressed districts have been proposed in Budget 2020, the agricultural credit target has been set at Rs 15 lakh crore for the financial year 2021.
"For sector comprising agriculture, allied activities, irrigation, and rural development, an allocation of Rs 2.83 lakh crores has been made for 2020-21," she said
The FM also said that farmers with barren land can set up solar power units so that they can get a living out of it.
Sitharaman also told the Lok Sabha that the Pradhan Mantri Kisan Urja Suraksha Utthan Mahabhiyan (PM KUSUM) scheme has connected the farmers to solar energy and reduced their dependency on kerosene and diesel.
She further added that a total of 6.11 farmers have been insured under the Pradhan Mantri Fasal Bima Yojna.
"Farm markets need to be liberalised, distortions in farm and livestock markets farming needs to be made more competitive, hand-holding of farm-based activities need to be provided, sustainable cropping patterns and more tech needed," Sitharaman said, adding that agricultural services need copious investments.
The finance minister also announced that Indian Railways will set up Kisan Rail through the PPP model so that perishable goods can be transported quickly. "Krishi Udaan to be launched by Civil Aviation Ministry to transport agri-products to national as well international destinations. NABARD will map and geo-tab 162 mn tonne capacity agri warehouses across the country," she said.
As the Indian economy faces one of the worst slowdowns in the country, Sitharaman has her task cut out to announce measures that will spur growth.
The Union Finance Minister, who is presenting her second and the Modi government's seventh consecutive one Budget, is expected to pull out all stops to spur investment to boost the economy.
