14.2 C
New Delhi
Monday 20 January 2020

Budget 2018: Farmers accorded highest priority

New Delhi: In a major bonanza to farmers, Finance Minister Arun Jaitley today announced fixing support price of Kharif crops like paddy at least 50% higher than the cost of production while raising farm credit target for the next fiscal by 10% to Rs 11 lakh crore.

Presenting the Union Budget 2018-19, Jaitley reiterated the government’s commitment to the welfare of farmers saying that the emphasis is to generate higher income for farmers.

Prime Minister Narendra Modi has given a clarion call to double the farmers’ income by 2022, he added.

Jaitley said the government has decided to fix the minimum support price (MSP) of coming to Kharif (summer sown) crops, which include maize, soyabean and pulses, at least one-and-half times the cost of production.

He said the MSPs of most of rabi (winter sown) crops have already been raised.

He said the government will ensure farmers get MSP even if prices fall, for which Niti Aayog will discuss with state governments the putting in place of an institutional mechanism to ensure that farmers get better prices for their produce.

Jaitley said the NDA had promised that farmers will be offered at least 50% more than the cost of production and the government is sensitive towards this.

He also proposed hiking the agricultural credit target for the next fiscal by Rs 1 lakh crore to a whopping Rs 11 lakh crore.

The target was Rs 8.5 lakh crore in 2014-15 and has been gradually increasing under the NDA government.

The government will set up fisheries and aquaculture infra fund and animal husbandry infra fund with an outlay of Rs 10,000 crore.

Jaitley said that 470 mandis (wholesale market) have been electronically linked to e-NAM (National Agriculture Market) programme out of 585 mandis. The remaining will be linked by March 2018.

Jaitley also doubled the allocation of food processing ministry to Rs 1,400 crore.

PTI

Stay on top - Get daily news in your email inbox

Sirf Views

Pandits: 30 Years Since Being Ripped Apart

Pandits say, and rightly so, that their return to Kashmir cannot be pushed without ensuring a homeland for the Islam-ravaged community for conservation of their culture

Fear-Mongering In The Times Of CAA

No one lived in this country with so much fear before,” asserted a friend while dealing with India's newly amended citizenship...

CAA: Never Let A Good Crisis Go To Waste

So said Winston Churchill, a lesson for sure for Prime Miniter Narendra Modi who will use the opposition's calumny over CAA to his advantage

Archbishop Of Bangalore Spreading Canards About CAA

The letter of Archbishop Peter Machado to Prime Minister Narendra Modi, published in The Indian Express, is ridden with factual inaccuracies

Sabarimala: Why Even 7 Judges Weren’t Deemed Enough

For an answer, the reader will have to go through a history of cases similar to the Sabarimala dispute heard in the Supreme Court

Related Stories

Leave a Reply

For fearless journalism

%d bloggers like this: