Agriculture Budget 2024- Live Updates on the Agriculture Budget for 2024 from FM Nirmala Sitharaman’s Speech: On February 1, Union Finance Minister Nirmala Sitharaman addressed Parliament and presented the Union Budget for 2024. Since she took over the country’s Ministry of Finance, the Finance Minister has presented five budgets.
The final full-fledged budget before the Lok Sabha elections next year is the Union Budget 2024. Today, the last full budget for the current government was presented by Finance Minister Ms. Nirmala Sitharaman. She focused and based the announcements of the budget on seven important areas for the government. Through a variety of announcements and allocations, the government maintained its focus on technology, governance, and capital expenditure, as anticipated. The FM remained committed to balancing growth with fiscal discipline when it came to fiscal management.
Agriculture Budget 2024
Everyone expects big, bold moves from the budget before general elections, which is typically a highly anticipated event. However, the majority of budgets tend to lack surprise. The budget for this year was no exception, consisting primarily of repackaging of previous plans and allocating additional funds. However, salaried taxpayers were in for a rude awakening. They received the tax break they required. The new tax system included a number of tax relief measures.
After being absent for three years, the increase in cigarette duty has returned. The economy’s consumption was boosted, the burden of compliance was reduced, MSMEs and the middle class were benefited, and the tax system was simplified and streamlined. The Spending plan referenced: Its seven priorities are inclusive development, reaching the final mile, infrastructure and investment, unleashing potential, green growth, youth power, and the financial sector. Let’s break down Budget 2024.
Agriculture Budget 2024 Details
| Name Of Article | Agriculture Budget 2024 |
| Agriculture Budget | Click Here |
| Category | Current-Affairs |
| Official Website | Click Also |
Agriculture Budget 2024 Live Updates What’s New: Funds, Schemes, Projects
- The center will launch the “PM Garib Kalyan Anna Yojana,” which aims to provide free food grains to all Antyodaya and priority households for a year, for Rs 2 lakh crore.
- Under the PM Matsya Sampada Yojana, the government will launch a sub-scheme with a total of Rs 6,000 crore to support fishermen.
- Under the MISHTI program, the government will encourage mangrove plantations along the coastline, according to FM.
- In order to encourage states and the UT to promote alternative fertilizers and a balanced use of chemical fertilizers, PM Pranam will be launched.
- As a center of excellence, the Indian Institute of Millet Research will receive support.
- According to FM Nirmala Sitharaman, the government will take a cluster-based approach and encourage industry and farmers to work together for input supply, extension services, and market connections.
- In addition, the government will introduce the Agriculture Accelerator Fund to support young professional startups in the agricultural sector.
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Agriculture Budget Highlights: Important Facts & Figures of Indian Agriculture Budget 2024
The Public authority of India is ceaselessly working for upgrading rural efficiency, ranchers’ pay, and their government assistance in a reasonable way. As needs be, the Financial plan for the Division of Horticulture and Ranchers’ Government assistance (DA and FW) has been expanded from Rs. 21933.50 crores (2013-14) to Rs. 124000 crores (2024), which is a 465% increment for the execution of different horticultural turn of events and government assistance plans intending to increment farming creation and ranchers’ government assistance the nation over. Also, Rs. 8513.62 crore have been dispensed during 2024 to the Branch of Rural Exploration and Training for the improvement of a few new high-yielding, biotic/abiotic stress lenient, infection/bug safe, and bio-braced assortments of seed, and so on.
To upgrade the creation and efficiency of food crops, the Public authority is executing a Halfway Supported Plan of the Public Food Security Mission (NFSM) in the country. The mission targets expanding food grain/food crop creation through region extension in specialty areas and efficiency improvement. The mission additionally offers help to the Indian Committee of Horticultural Exploration (ICAR) and State Agribusiness Colleges (SAUs)/Krishi Vigyan Kendras (KVKS) for the innovation backstopping and move of innovation to the rancher under the oversight of Topic Trained professionals/Researchers. The exploration associations are upheld for undertaking research projects that can assist with improving the creation and efficiency of yields.
Also Read-Budget 2024 Highlights PDF Download
Highlights of Union Budget 2024 in the Agriculture Sector
- NABARD will provide funding to rural startups and the agricultural sector.
- From 2024, the government will guarantee wheat and paddy farmers an income through direct payments totaling Rs. 2.37 lakh crore for the minimum support price (MSP).
- Millet production will be encouraged and oilseed cultivation will be expanded to lessen import dependence.
- Crop evaluations, the digitization of land records, and the application of nutrients and pesticides will all be carried out with Kisan drones.
- The Ken-Betwa River linking project will be beneficial to approximately 9 lakh farmers. For this project, a total of Rs. 44,000 crore has been allocated.
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