Interim Budget 2024: Here's what agriculture sector is seeking

India News Image credits: Pexels

1. Boost for small farmers through PM-Kisan:

A significant provision of Rs 60,000 crore has been earmarked for the Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) scheme, benefitting around 86% of small farmers in the country. Image credits: Pexels

2. Emphasis on Kisan Credit Card (KCC):

Recognizing the importance of the Kisan Credit Card (KCC), an allocation of Rs 23,000 crores has been made to ensure farmers can continue availing its benefits. Image credits: Pexels

3. Agricultural loan target increase:

In a bid to encourage diversification into Animal Husbandry, Dairy, and Fisheries, the agricultural loan target has been raised to Rs 20 lakh crore. Image credits: Pexels

4. Digital agriculture mission funding:

A provision of Rs 450 crore has been allocated for the Digital Agriculture Mission, aiming to leverage technology for the enhancement of the agricultural sector. Image credits: Pexels

5. Focus on biofuels and sustainability:

Anticipating the budget, experts emphasize the potential inclusion of agri-residue utilization in the priority sector lending mandate. Image credits: Pexels

6. Anticipated tax relief and welfare spending:

Experts expect the budget to prioritize fiscal consolidation, welfare spending, and tax relief measures. Image credits: Pexels

7. Agricultural technology and global collaborations:

Industry leaders hope for policies that streamline regulatory processes and encourage global collaborations in the agri-tech sector. Image credits: Pexels Find Next One