Asserting that the government is committed towards farmers welfare, Finance Minister Nirmala Sitharaman on Monday proposed 10 per cent hike in the farm loan disbursal target to Rs 16.5 lakh crore in the Budget, and introduced an agri-infra and development cess of up to 100 per cent to create post-harvest infrastructure for improving farmers income.
The minister also proposed higher allocation for Rural Infrastructure Development Fund and Micro Irrigation Fund, and extended Agriculture Infrastructure Fund to APMCs for augmenting infrastructure facilities.
The government also proposed substantial investments for the development of fishing harbours, fish landing centres and promote seaweed farming.
Presenting the first digital Budget in Parliament, Sitharaman said the proposal on agriculture will further strengthen the Sankalp of the nation first, doubling farmers income, strong infrastructure.. , among others.
Agri and food companies on Monday hailed the decision to hike farm credit target and increase allocation for the agriculture ministry in the Budget, saying this will help in boosting farmers income and overall growth of the sector. Asserting that the government is committed towards farmers welfare, Finance Minister Nirmala Sitharaman on Monday proposed 10 per cent hike in the farm loan disbursal target to Rs 16.5 lakh crore, and introduced an agri infra and development cess of up to 100 per cent to create post-harvest infrastructure for improving farmers income. The minister also proposed higher allocation for Rural Infrastructure Development Fund and Micro Irrigation Fund, and extended Agriculture Infrastructure Fund to APMCs for augmenting infrastructure facilities.
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Sitharaman further said 1,000 more mandis will be integrated with the electronic national market and the agriculture infrastructure fund would be made available to APMCs to augment infrastructure facilities.