Budget 2023: 'Rs 5,300 crore assistance to drought-prone central region of Karnataka,' says FM Sitharaman

Earlier last year, Karnataka water resources minister Govind Karjol had said that the Union Ministry of Finance approved the state's proposal to grant national project status to the Upper Bhadra project.

Union Finance Minister Nirmala Sitharaman on Wednesday (February 1) announced Rs 5,300 crores for the Upper Bhadra project in drought-prone central Karnataka.

Earlier last year, Karnataka water resources minister Govind Karjol had said that the Union Ministry of Finance approved the state's proposal to grant national project status to the Upper Bhadra project.

Karnataka has been asking the Centre to declare Upper Bhadra as a national project for a while. Though the high-level committee by the Union Ministry of Jal Shakti cleared the matter was pending for approval with the Union Ministry of Finance.

In her budget speech, the finance minister also informed that 63,000 Primary Agricultural Credit Societies are being computerised with an investment of Rs. 2,516 crores, model bylaws were formulated for PACS, national database is being prepared, with this, massive decentralised storage capacity to be set up.

"This will help farmers store their produce and realise better prices for their produce, Govt. will faciliate setting up of larger number of coop societies, primary fishery societies and dairy coop societies in uncovered villages in next 5 years," the finance minister said.

An Agriculture Accelerator Fund will be set up to encourage agri-startups by young entrepreneurs, Union Finance Minister Nirmala Sitharaman said while presenting the Budget 2023.