₹1.52 lakh crore for agriculture, allied sectors in budget

In the Union Budget 2024, Finance minister Nirmala Sitharaman on 23 July announced the allocation of ₹1.52 lakh crore for the agriculture and allied sectors. She said the government will release new 109 high-yielding, climate-resilient seeds for 32 field and horticulture crops apart from introducing 10 million farmers to natural farming practices over the next two years.

The minister said the government in partnership with states will promote digital public infrastructure for agriculture and emphasized the importance of research and development in the agriculture sector. She announced funding for R&D initiatives, particularly focusing on the production, storage, and marketing of pulses and oilseeds.

Sitharaman announced the government’s plan to promote large-scale vegetable production clusters, which will be strategically established to boost production and ensure a steady vegetable supply.

“ ₹1.52 lakh crore allocated for the agriculture sector could benefit rural demand for automobiles — particularly entry-level two-wheelers and tractors,” she said. “The government will undertake a comprehensive review of agricultural research and focus on developing climate-resilient varieties in agriculture… New 109 high-yielding and climate-resilient varieties of 32 field and horticulture crops will be released for cultivation by farmers. In the next two years, one crore farmers will be initiated into natural farming supported by certification and branding… Additionally, 10,000 need-based bio-input centers will be established to strengthen the production, storage, and marketing of oilseeds.”

She announced the promotion of digital public infrastructure in partnership with state governments. This digital framework will provide farmers with access to vital information, such as weather forecasts, crop advisory services, and market prices.

The minister announced a digital crop survey for kharif in 400 districts in FY25, integrating the details of six crore farmers and their lands into farmer and land registries. “The details of six 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 five states.”

Financing for shrimp farming, processing, and export will be facilitated through the National Bank for Agriculture and Rural Development, she announced. “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.

To enhance the supply chain of vegetables, the budget proposes the development of large-scale clusters for vegetable production near major consumption centres. “We will promote farmer producer organizations, co operatives and startups for vegetables supply chains including for collections, storage and marketing,” she said.