Budget 2024: Agriculture sector gets Rs 1.52 lakh crore allocation, announces FM Nirmala Sitharaman

In her seventh consecutive budget presentation, Nirmala Sitharaman also outlined initiatives with a focus on sustainable practices, digital infrastructure, and increased production.

Finance Minister Nirmala Sitharaman, presenting the 2024 Union Budget today, announced that in the next two years, one crore farmers will be initiated in natural farming. She announced a provision of Rs 1.52 lakh crore for agriculture and allied sectors in this year's budget. Moreover, the minister added that the government will release new 109 high yielding, climate resilient seeds for 32 field and horticulture crops.

A Jan Samarth-based Kisan Credit Card will be introduced in five states. The government will also provide financing for shrimp farming and marketing. Additionally, the government aims to strengthen the production, storage, and marketing of pulses, Sitharaman said in her budget speech.

While presenting the Budget 2024, she said, "New 109 high-yielding and climate resilient varieties of 32 field and horticulture crops will be released for cultivation by farmers. In the next 2 years, 1 crore farmers will be initiated into natural farming supported by certification and branding…”

In addition to this, Finance Minister added that government in partnership with states will promote digital public infrastructure for agriculture. This digital framework will provide farmers with access to vital information, such as weather forecasts, crop advisory services, and market prices.

Sitharaman further said that large-scale vegetable production clusters will be supported by the government. These clusters will be set up in key areas to increase productivity and guarantee a consistent supply of veggies across the nation.

This move towards natural farming is for promoting sustainable agricultural practices and reducing dependency on chemical fertilisers and pesticides.  Natural farming not only enhances soil health and biodiversity but also reduces the cost of cultivation for farmers, thus increasing their profitability.