New Delhi: Finance Minister Nirmala Sitharaman announced a budget allocation of Rs 1.52 lakh crore for the agriculture and allied sectors during her presentation of the Union Budget for the fiscal year 2024-25 in the Lok Sabha on Tuesday.

Highlighting the importance of research and development in agriculture, Sitharaman revealed plans for significant funding towards initiatives focusing on the production, storage, and marketing of pulses and oilseeds. "We will strengthen their production, storage, and marketing," she stated. "As announced in the interim budget, a strategy is put in place to achieve "Atmanirbharta" for oil seeds such as mustard, groundnut, sesame, soybean and sunflower," she said. This move aims to achieve self-reliance in oilseeds such as mustard, groundnut, sesame, soybean, and sunflower.

To improve the vegetable supply chain, the budget proposes the establishment of large-scale clusters for vegetable production near major consumption centres.

"Large scale clusters for vegetable production will be developed closer to major consumption centres. We will promote farmer producer organisations, co operatives and startups for vegetables supply chains including for collections, storage and marketing," she said.

Sitharaman also unveiled a three-year plan to enhance digital infrastructure for agriculture, aiming to comprehensively cover farmers and their lands. "Our government will falicitate the Digital public infrastructure in agriculture for coverage of farmers and their lands in 3 years. During this year, digital crop survey for Kharif using the DPI will be taken up in 400 districts."

As part of this initiative, a digital crop survey for Kharif crops will be conducted in 400 districts this year, integrating details of six crore farmers and their lands into farmer and land registries. "The details of 6 crore farmers and their lands will be brought into the farmer and land registries. The issuance of jan-Samarth based Kisaan Credit Cards will be enabled in 5 states."

Acknowledging the potential of aquaculture, the budget includes financial support for establishing a network of nucleus breeding centres for shrimp broodstocks. Financing for shrimp farming and exports will be facilitated through the National Bank for Agriculture and Rural Development (NABARD) to boost this sector. "Financial support for setting up a network of nucleus breeding centres for shrimp brude stocks will be provided. Financing for shrimp farming and exports will be facilitated through NABARD."

A new national cooperation policy will also be introduced to ensure systematic, orderly, and comprehensive development of the cooperative sector. 

"Our government will bring out a national cooperation policy for systematic, orderly and all round development of the cooperative sector. Fast tracking growth of rural economy and generation of employment opportunities on a large scale will be the policy goal."

This policy aims to accelerate rural economic growth and create widespread employment opportunities.

Agencies