Interim Budget 2024: Boosting Agricultural Sector and Farmers' Incomes

Introduction:

The Interim Budget 2024, presented by Finance Minister Nirmala Sitharaman, underscores the government's commitment to bolstering the agricultural sector and improving farmers' incomes. Let's delve into the key highlights and initiatives proposed in the budget to achieve these objectives.

Thrust on Value Addition in Agriculture: The budget places a significant emphasis on stepping up value addition in the agricultural sector to enhance farmers' incomes. Sitharaman outlined a strategy to achieve self-reliance in oilseeds through research, modern farming techniques, market linkages, procurement, value addition, and crop insurance.

Initiatives to Support Farmers: Recognizing farmers as the backbone of the nation, Sitharaman highlighted the government's efforts to support them. These include periodic increases in minimum support prices, direct financial assistance to farmers under PM-KISAN SAMMAN, and crop insurance coverage under PM Fasal Bima Yojana.

Promotion of Post-Harvest Activities: The budget aims to promote private and public investment in post-harvest activities such as aggregation, modern storage, efficient supply chains, processing, and marketing. These initiatives are expected to accelerate growth in the agriculture and food processing sector.

Impactful Schemes and Yojanas: Sitharaman highlighted the success of schemes like Pradhan Mantri Formalisation of Micro Food Processing Enterprises Yojana, Pradhan Mantri Kisan Sampada Yojana, and Electronic National Agriculture Market in benefiting farmers, reducing post-harvest losses, and generating employment.

Enhanced Real Income in Rural Areas: The provision of basic necessities and farmer-centric policies have contributed to enhancing real income in rural areas. Sitharaman emphasized the importance of addressing economic needs in rural regions to spur growth and create jobs.

Conclusion:

The Interim Budget 2024 demonstrates the government's commitment to transforming the agricultural landscape and improving the livelihoods of farmers. By focusing on value addition, support initiatives, and post-harvest activities, the budget aims to drive inclusive growth and prosperity in rural India.