Agriculture Minister hails Union Budget, Oppn dubs it anti-farmer aninews.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from aninews.in Daily Mail and Mail on Sunday newspapers.
Source: FM’s speech 1 Feb 2021
While successfully making a political point that the current government is no less committed to the welfare of farmers, these numbers clearly present an unaddressed problem that the government has to tackle head-on soon.
The MSP system was designed to provide a safety net in case the prices crashed, to procure for supply under the Public Distribution System, and maintain buffer stocks. Today, sale to government agencies at MSP seems to be the preferred choice of farmers. It indicates that either MSPs need rationalisation or the markets are not working for the benefit of the farmers. In another sense, production is exceeding what the market can absorb. How these commodity mountains are being managed, what is the holding cost, and how will they be managed if the year-on-year procurement keeps growing are questions that beg answers. The matter needs a fix, to which the government cannot remain indifferent for much longer.
Highlights
Budget went paperless this time.
Budget session will be held in two phases Jan 29 to Feb 15 and March 8 to April 8.
New Delhi: Finance Minister Nirmala Sitharaman on Monday proposed 10 percent hike in the farm loan disbursal target to Rs 16.5 lakh crore in the Union Budget 2021, and introduced an agri-infra and development cess of up to 100 percent to create post-harvest infrastructure for improving farmers income. In a slew of steps to support the Agriculture Sector Sitharaman announced 9 measures for Agriculture Sector.
FM Sitharaman proposed to extend SWAMITVA Scheme to all States/UTs.
Earlier this year, Prime Minister Shri Narendra Modi had launched SWAMITVA Scheme to bring transparency in property ownership in villages. Under the Scheme, a record of rights is being given to property owners in villages. Up till now, about 1.80 lakh property-owners in 1,241 villages have been provided cards.
Key highlights of Union Budget 2021-22 ANI | Updated: Feb 01, 2021 15:19 IST
New Delhi [India], February 1 (ANI): Finance Minister Nirmala Sitharaman on Monday announced higher capital expenditure for the FY 2021-22 and focused on providing a major boost to healthcare and infrastructure building.
In her Budget speech, Sitharaman mentioned that this year s budget focused on six pillars- Health and Wellbeing, Physical and Financial Capital, and Infrastructure, Inclusive Development for Aspirational India, Reinvigorating Human Capital, Innovation and R&D and minimum government and maximum governance.
Presenting the first-ever digital Union Budget, the minister stated that India s fight against COVID-19 continues into 2021 and that this moment in history, when the political, economic, and strategic relations in the post-COVID world are changing, is the dawn of a new era - one in which India is well-poised to truly be the land of promise and hope
New Delhi, February 1
Amid the ongoing farmers’ agitation against the three farm laws, Finance Minister Nirmala Sitharaman on Monday announced “nine measures” for agriculture and allied sector (the “sole bright spot with growth of 3.4 per cent during 2020-21”, according to the Economic Survey) in the Union Budget, including extending Agriculture Infrastructure Fund to APMCs and 10 per cent hike in agriculture credit target.
Sitharaman said: “To provide adequate credit to our farmers, I have enhanced the agricultural credit target to Rs 16.5 lakh crore in FY-22. We will focus on ensuring increased credit flows to animal husbandry, dairy and fisheries”.
The Budget Estimate (BE)-2021-22 for the Ministry of Agriculture and Farmers’ Welfare is Rs 131531.19 crore, including Rs 123017.57 crore for its various schemes and Rs 8513.62 crore for agricultural research and education. While BE 2021-22 of Rs 123017.57 crore for schemes is higher that Revised Estimate (RE) or actu