A cautious approach in agri sector
February 01, 2021
Cut in food and fertiliser subsidy; push to PMFBY and FPO
The Budget, which was announced on Monday in the background of prolonged farmers’ protest, was expected to roll out doles in the form of farm loan waiver, increase in cash under PM-KISAN scheme for farmers and off clarifications on the MSP policy.
However, it turned a damp squib for many who were eyeing with expectations. Having spent a significantly higher amount on food and fertiliser subsidy in 2020-21 to support the farm sector amidst the pandemic, the Finance Minister took a cautious stand and limited spending across different heads in agriculture for 2021-22. The total spending on MSP support and procurement was an astronomical ₹4.22-lakh crore in 2020-21, up from ₹1.08-lakh crore in 2019-20. The amount of fertiliser subsidy provided for in 2020-21 was ₹71,309 crore, but the actual spending was ₹1.33-lakh crore.
Budget 2021: What will farmers get?
Union Budget 2021: It is anticipated that the government may roll out its ambitious DBT for fertiliser, offering direct subsidy transfer into the accounts of farmers. Timely release of the additional allocation for the fertiliser will enable clearance of the subsidy backlog
Mansi Jaswal | February 1, 2021 | Updated 08:10 IST
Budget 2021: According to the rating agency ICRA, the government could allocate funds towards the agricultural chain to improve productivity and reduce post-harvest losses
Amid the prolonged farmers protest, where farm unions have demanded a separate Act on MSP and the withdrawal of three agri laws, it is therefore expected the Centre will keep a special focus on the agricultural economy in this year s Budget. It must be noted that when India s GDP shrank by 23.9 per cent in the June quarter of FY21, only the agricultural sector emerged as a silver lining registering a 3.4 per cent growth.
Union Budget 2021-22: Despite farmer protests, agriculture concerns hardly addressed downtoearth.org.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from downtoearth.org.in Daily Mail and Mail on Sunday newspapers.
Economic Survey: Food subsidy bill becoming unmanageably large While it is difficult to reduce the economic cost of food management in view of rising commitment towards food security, there is a need to consider the revision of CIP to reduce the bulging food subsidy bill, says Economic Survey 2020-21
BusinessToday.In | January 29, 2021 | Updated 16:55 IST
Economic Survey 2020-21: The food subsidy bill is becoming unmanageably large and there s need to revise CIP to reduce the bulging food subsidy bill, says the Economic Survey tabled in Parliament today. While it is difficult to reduce the economic cost of food management in view of rising commitment towards food security, there is a need to consider the revision of CIP to reduce the bulging food subsidy bill, it suggests.
Budget 2021: In 90 points, read here, President’s Kovind’s full address to Parliament
India
Published: Friday, January 29, 2021, 13:22 [IST]
New Delhi, Jan 29: This joint sitting of Parliament which is being held during the time of the Coronavirus pandemic has great significance. It is the beginning of a new year and a new decade. We will also be entering the 75th year of India s independence this year. All the Members of Parliament present here today embody the conviction held by every Indian that the toughest of challenges will deter neither us nor India.
Budget session kickstarts: Everything that happened today | Oneindia News