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The Budget 2024-2025 announcement by Union Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="Nirmala-Sitharaman" source="keywords">Nirmala Sitharaman</keyword> saw productivity and resilience in <keyword id="19931887" type="General" weightage="20" keywordseo="agriculture" source="keywords">agriculture</keyword> being prioritised above all else. With a desire to turn focus on <keyword id="19934969" type="General" weightage="20" keywordseo="farmers" source="keywords">farmers</keyword>, or Annadatas, ₹1.52 lakh crore has been allocated for agriculture and its allied sectors. This is quite an increase from the Interim Budget announcement of ₹1.27 lakh crore in February 2024. It is being speculated that this substantial focus on the agricultural sector stems from the BJP's vote share dipping in semi-urban and rural areas during the recent Lok Sabha elections. In fact, when Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="narendra-modi" source="keywords">Narendra Modi</keyword> returned for a third term in office, the first file he signed was for the release of the 17th instalment of the PM <keyword id="22000840" type="General" weightage="20" keywordseo="kisan-nidhi" source="keywords">Kisan Nidhi</keyword> scheme, ET reported. However, the government's commitment to transforming agriculture and potentially the lives of Indian farmers could lead to the agricultural sector growing at 3.7% in the current fiscal, compared to 1.4% last year, as per the CII. <h2>Key initiatives in agriculture</h2>Transforming Agriculture Research The government is set to conduct a comprehensive review of the agricultural research framework, with an emphasis on enhancing productivity and developing climate-resilient crop varieties. Funding will be allocated on a challenge basis, including to private sector initiatives. This research will be overseen by domain experts from both governmental and non-governmental organizations. Release of New Varieties A total of 109 new high-yielding and climate-resilient varieties of 32 field and horticulture crops will be introduced for farmers to cultivate. Promoting Natural Farming In the next two years, the government plans to transition one crore farmers to natural farming practices, supported by certification and branding efforts. This initiative will be carried out through scientific institutions and willing <keyword id="20030597" type="General" weightage="20" keywordseo="gram-panchayats" source="keywords">gram panchayats</keyword>, with 10,000 bio-input resource centers to be established based on need. Missions for Pulses and Oilseeds To achieve self-sufficiency in pulses and oilseeds, the government will strengthen their production, storage, and marketing. As outlined in the interim budget, a strategy is being implemented to attain 'atmanirbharta' (self-reliance) for oilseeds like mustard, groundnut, sesame, soybean, and sunflower. <div type="Article" hostid="261" msid="111930255" title="Economic Survey calls for urgent agricultural reforms; cites growth hurdles" mstype="2" mssubtype="0"></div>Vegetable Production &amp; Supply Chains Large-scale clusters for vegetable production will be developed near major consumption centers. The government will support Farmer-Producer Organizations, cooperatives, and startups to streamline the vegetable supply chain, including collection, storage, and marketing. Digital Public Infrastructure for Agriculture Building on the success of a pilot project, the government, in partnership with states, will facilitate the implementation of Digital Public Infrastructure (DPI) for agriculture over the next three years. This year, a digital crop survey for Kharif crops will be conducted in 400 districts, integrating details of six crore farmers and their lands into registries. Additionally, Jan Samarth-based Kisan Credit Cards will be issued in five states. Shrimp Production &amp; Export Financial support will be provided to establish a network of Nucleus Breeding Centres for shrimp broodstocks. NABARD will facilitate financing for shrimp farming, processing, and export. National Cooperation Policy A new National Cooperation Policy will be introduced to promote systematic and comprehensive development of the cooperative sector. This policy aims to fast-track rural economic growth and create large-scale employment opportunities. <h2>Budget allocation highlights</h2><ul><li>PM-Kisan Samman Nidhi: Will be retaining its allocation of ₹60,000 crore to provide direct financial assistance to 11.8 crore small and marginal farmers.</li><li>Pradhan Mantri Fasal Bima Yojana: Allocated funds to provide crop insurance to four crore farmers, protecting them from adverse weather conditions.</li><li>e-NAM Expansion: Integration of 1,361 mandis into the e-NAM platform to enhance market efficiency and transparency, benefiting 1.8 crore farmers with an expected trading volume of ₹3 lakh crore.</li></ul><h2>Government committed to Polavaram irrigation project in Andhra Pradesh</h2>The Finance Minister said that the government is fully committed to financing and expeditiously completing the Polavaram irrigation project, which is considered a lifeline for Andhra Pradesh and its farmers. <h2>Future directions</h2>The government aims to increase public and private investment in post-harvest infrastructure and supply chains, promoting aggregation, modern storage, and efficient processing to reduce losses and improve food security. Additionally, the dairy and fisheries sectors will see significant development, with initiatives to boost productivity and exports, contributing to a sustainable and prosperous agricultural ecosystem. <div type="Article" hostid="261" msid="111951205" title="Budget 2024-25: Changes to tax slabs, increased standard deduction and other changes to direct taxation" mstype="2" mssubtype="0"></div>

What does Union Budget 2024-2025 have in store for farmers and the agricultural sector?

Pradhan Mantri Kisan Samman Nidhi Yojana also popularly called as PM-Kisan is a scheme that is meant to benefit the farmers in the country. Under the <keyword id="7289466" type="UNKNOWN" weightage="20" keywordseo="pm-kisan">PM Kisan</keyword> scheme, every farmer in the country will be given a total amount of Rs. 6,000 issued in three instalments of Rs. 2,000. PM-Kisan yojana targets to provide financial assistance to the small and marginal level farmers in the nation. The PM Samman Nidhi Yojana benefits the Indian farmers in all states by providing INR 6,000 financial assistance for the purchase of seeds, fertilizers, farming supplies and pesticides. The payment is released as per the details published on the official website of the scheme <a href="http://pmkisan.gov.in">pmkisan.gov.in</a>. You can follow the steps given below to check the PM Kisan balance. How to check PM Kisan Samman Nidhi status or PM Kisan balance Visit the official website of the Indian Government’s <a href="http://pmkisan.gov.in">PM Kisan Samman Nidhi</a> scheme. You can find the latest updates on the PM Kisan Samman Nidhi on this website. Move the mouse curser on the ‘Farmer’s Corner Section. You will find a drop down menu. Select the option ‘Beneficiary List’. In this list, you will find the status of your application for the PM Kisan Samman Nidhi. Alternatively, you can also click on the direct link <a href="http://pmkisan.gov.in/">pmkisan.gov.in</a>. Here also you will find the PM Kisan Samman Nidhi list for your village. In this list, you will find the name of the farmer and the amount allotted for the farmer in their bank account. After landing on the beneficiary list of the PM Kisan Samman Nidhi, you need to choose the name of your state, district, Sub-District, Block and Village one by one from the drop down menus. Once you have selected all these entries, you must click on the ‘Get Report’ section for checking the list of your village for the details of the Kisan Samman Nidhi with regard to this present phase. On the list of Kisan belonging to your village, choose your name from the alphabetical list to know the status of the financial aid given to you under this scheme. See Also - <a href="https://www.businessinsider.in/finance/article/how-to-check-pradhan-mantri-jan-dhan-yojana-account-balance/articleshow/75182470.cms">How to check Pradhan Mantri Jan Dhan Yojana Balance</a>

How to check PM Kisan scheme money and balance

New Delhi, Mar 17 () The Pradhan Mantri Kisan SammanNidhi Yojana (PMKSNY) has been implemented successfully acrossthe country, barring West Bengal as the eastern state did notjoin the scheme, Lok Sabha was informed on Tuesday.Union Minister of State for Agriculture Kailash Choudharysaid the PM-KISAN scheme has been successfully implementedacross the country."So far, as on March 11, 2020, financial benefit underthe scheme has been released to 8,69,79,391 beneficiaries.However, these exclude about 69 lakh farmers of West Bengal asthe government of West Bengal has not yet decided to join thescheme," he said during Question Hour.The minister said the entire responsibility ofidentification of eligible beneficiary farmer families anduploading their correct details on the PM-KISAN portal restswith State/UT governments concerned.State governments have been continuously requested andvigorously pursued for expeditious registration and uploadingof data of beneficiaries, in mission mode and by organisingcamps.Meeting is held weekly through video conferencing withstate governments and other stakeholders concerned so as toremove any handicaps coming in the way of smooth and seamlessimplementation of the scheme, he said.Choudhary said the target of the government is to achieve100 per cent saturation by enrolling every eligible farmerfamily of the country.To achieve this, States and UTs have been asked toconduct various saturation drives, he said. ACBDV DV

PM-KISAN scheme being implemented across India except W Bengal

New Delhi, Apr 13 () The government has disbursed Rs 16,621 crore to about 8.31 crore beneficiary farmers under the PM-KISAN scheme since March 24, the day lockdown was announced to curb COVID-19.The total amount released during the lockdown period also includes last year's due payment of Rs 1,674.43 crore which has been disbursed to 83.77 lakh beneficiary farmers, an official statement said.The rest Rs 14,945 crore has been released to 7.47 crore farmers as the first installment under the PM-KISAN for the 2020-21 fiscal which started from April 1.Under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme, the Centre transfers an amount of Rs 6,000 per year, in three equal instalments, directly into the bank accounts of farmers, subject to certain exclusion criteria relating to higher income status.To give immediate relief to farmers affected by the nationwide lockdown, the government had on March 27 promised to transfer the first installment of Rs 2,000 to each of 8.69 crore beneficiaries under the scheme, in the first week of April.Besides, the Centre said it has dispatched 3,985 tonnes of pulses for free delivery to PDS beneficiaries under the Pradhan Mantri Garib Kalyan Yojana (PM-GKY).The Union Agriculture Ministry has also decided to allow 'Truthful Label seeds' for subsidy components for the North East, Hilly regions and the UTs of Jammu &amp; Kashmir only, for all crops under National Food Security Mission.The ministry further said organic products are being delivered in Punjab at doorstep in the specially designed electric van under Paramparagat Krishi Vikas Yojana (PKVY).In Maharashtra, 21,11,171 quintals of fruits and vegetables have been sold by 27,797 Farmer Producers Organisations (FPOs) in 34 districts by online/direct sale method, it added. LUX MR

Govt disburses Rs 16,621cr under PM-KISAN since lockdown

New Delhi, Dec 12 () As many as 43.20 lakh farmers from Andhra Pradesh have received funds from the Pradhan Mantri Kisan Samman Nidhi Yojana (PM-Kisan) till November this year, under which the central government gives Rs 6,000 per annum in three equal installments.
 As per the agriculture ministry data, till November this year about 46.86 lakh farmers have been enrolled under the scheme in Andhra Pradesh, out of which the central government has released funds to 43.20 lakh farmers.
 Among districts, the funds were released to about 4.72 lakh farmers in Anantapur, 4.05 lakh in Kurnool, 4 lakh in East Godavari, 3.89 lakh in Guntur, 3.75 lakh in Chittoor, 3.48 lakh in Prakasam, 3.22 lakh in West Godavari and 3.04 lakh in Krishna so far.
 Besides, the funds were released to 2.83 lakh farmers in Visakhapatanam, 2.56 lakh in YSR district, 2.40 lakh in Vizianagaram and 2.28 lakh in Nellore, the data showed.
 The target is to cover 83.82 lakh farmers in Andhra Pradesh under the scheme.
 Under the PM-Kisan scheme, which was launched in February this year, the central government has transferred funds to 7.60 crore beneficiary across the country till November 30. About Rs 35,882.8 crore has so far been disbursed to beneficiaries.
 From December onwards, the Centre has decided to transfer funds under the PM-Kisan to only Aadhaar-authenticated bank accounts of eligible farmers.
 According to the ministry, the release of installments to beneficiary farmers are in various stages of progress. Some farmers have got all three installments, some only two and some only one, depending upon the four-monthly period in which they have been first registered by the concerned state governments. LUX DRR

Centre releases PM-KISAN funds to 43.20 lakh Andhra farmers till Nov

New Delhi, Jan 31 () The government has provided over Rs 43,000 crore to more than 8 crore farmers under the PM-KISAN scheme and will spend Rs 25 lakh crore in coming years to boost the rural economy, President Ram Nath Kovind said on Friday.
 Addressing the joint sitting of the two houses of Parliament, he said: "Bringing about a change in the lives of farmers, who serve the country selflessly, and development of rural areas are the priorities of my government."
 The government is "going to spend an amount of Rs 25 lakh crore" in the coming years to strengthen the rural economy and is working on a strategy to develop an income-centric system aimed at doubling the income of farmers, he added.
 "Under the Prime Minister Kisan Samman Nidhi (PM-KISAN), more than Rs 43,000 crore has been deposited in the bank accounts of more than eight crore farmer families. On January 2, my government has created a record by transferring Rs 12,000 crore to the bank accounts of six crore farmers simultaneously," Kovind said.
 Through the Rs 87,000 crore PM-KISAN scheme, the government is providing Rs 6,000 per year to farmers in three equal instalments. The ambitious programme, which was launched in the interim Budget last year, aims to cover 14.5 crore farmers.
 That aside, Kovind said the government is steadily increasing the minimum support price (MSP) for Kharif and Rabi crops as part of its decision to fix the MSP at least one and a half times the input cost. He highlighted that the procurement of pulses and oilseeds has increased by more than 20 times.
 The President said the central government, along with states, is working to provide relief to farmers from natural calamities.
 Under the Pradhan Mantri Fasal Bima Yojana, he pointed out that on an average, every year more than 5.5 crore farmers are availing crop insurance cover at a very low premium. Farmers' claims worth Rs 57,000 crore have been settled in the last three years.
 Kovind said the impact of e-NAM, the online national market for farmers, has also started to become visible. As many as 1.65 crore farmers and about 1.25 lakh traders have been linked to it, while trade worth Rs 90,000 crore has been transacted.
 "In order to further enhance the effectiveness of e-NAM in this decade, work is underway to link more than 400 new mandis with it," Kovind said. Under this platform, 540 mandis are already linked.
 The President said the government is promoting alternative farming practices such as organic farming. Honey output has increased by about 60 per cent while its exports more than doubled.
 Kovind said the twin objectives of doubling the fishermen's income and fish production are sought to be achieved through the newly created the Department of Fisheries.
 "A massive drive is being organised with the aim of ensuring the health of more than 50 crore livestock of the country. Under the National Animal Disease Control Programme, an amount of Rs 13,000 crore is being spent on immunisation and other measures to protect the cattle from foot and mouth disease," Kovind said. MJH MJH ANS
ANS

Govt to spend Rs 25 lakh cr to boost rural economy; over Rs 43K cr disbursed under PM-KISAN scheme

The Congress President announced the <keyword id="7461248" type="UNKNOWN" weightage="20" keywordseo="Nyuntam-Aay-Yojana">Nyuntam Aay Yojana</keyword> (NYAY) on Monday. If voted to power in the 2019 Lok Sabha elections, India’s grand old party, plans to implement this scheme. What is this scheme all about? The plan is to give ₹6,000 per month to every family which falls below the poverty line. The question is how was this number arrived at. In <a href="https://www.business-standard.com/article/elections/rahul-s-scheme-for-poor-to-cost-rs-3-5-trn-congress-data-analytics-chief-119032500999_1.html">an interview to the Business Standard</a>, Praveen Chakravarty, who is the head of the data analytics department of the Congress Party, explained the logic. He said that almost everyone earns ₹5,000-6,000 per month as a family. The Congress Party thinks that a minimum income of ₹12,000 per month is reasonable. In that sense, the plan is to pay ₹6,000 per month to every family which is below the poverty line, to get them to a level of ₹12,000 per month. So, to that extent this is a <keyword id="4034334" type="PERSON" weightage="20" keywordseo="basic-income-scheme">basic income scheme</keyword>, with the below poverty line families getting a fixed amount of money every month, with no conditions attached to the payment. In case of the just launched PM-Kisan scheme only landowners who own less than two hectares of land, stand to benefit. In the case of NYAY, anyone below the poverty line will be eligible for ₹6,000 per month, this will include landless labourers as well. What is the scheme trying to address? The scheme is trying to address poverty, especially in the eastern part of the country. Take a look at Figure 1, which basically plots the per capita income of different states in 2017-2018. The per capita income of many states is missing because the data is not currently available. In 2017-2018, Bihar had the lowest per capita income of ₹38,860 per year (or just about ₹3,500 per month). Uttar Pradesh came in next with a per capita income of ₹55,339. Now compare this with other states. Karnataka had a per capita income of ₹181,788 whereas Maharashtra had a per capita income of ₹180,596. 
 
 
 
 
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 So, clearly there is a problem. People living in heavily populated states like Bihar and Uttar Pradesh, are simply not making enough money and this needs to be addressed. Why does the government need to give money to citizens? Large states like Maharashtra, Gujarat, Tamil Nadu, Karnataka and Haryana, which have done much better than other states, have had some sort of business and industry going in the state. Haryana has also benefited on account of the agricultural revolution and the fact that the state borders New Delhi. The problem is that poorer states can no longer follow this formula, simply because India is going through what economists refer to as premature non-industrialization. As the Economic Survey of 2014-15 pointed out, “Uttar Pradesh’s maximum level of industrialization was about one-third that of Brazil and Indonesia (both have similar populations to UP); and the decline began at 15-20% of the income levels of these countries." In this scenario, the states with a lower income, need to be supported by the government, and there is clearly no denying that. Of course, this comes with the corollary that any basic income scheme cannot eradicate poverty. Where is the money going to come from? As the old adage goes, in economics there is no free lunch. Someone is going to foot the bill for delivering NYAY. NYAY is to be delivered to 20% of the population or around 50 million families. At ₹6,000 per family per month, the total bill works out to ₹3.6 trillion. The forecast gross domestic product for 2019-20 is ₹210.1 trillion. Hence, the bill for NYAY will work out to around 1.7% of the GDP. The question is how a bill of ₹3.6 trillion or 1.7% of the GDP is going to be financed? The Congress Party in its media interactions seems confident about being able to finance NYAY. Economists who have talked about the idea of a basic income in India in the past, have primarily talked about doing away with subsidies and raising taxes, in order to be able to finance any basic income scheme. Let’s try and take a look at how this would work in the case of NYAY. The total food, fertiliser and petroleum subsidy bill for 2019-20 stands at ₹2.97 trillion or 1.41% of the GDP. Once NYAY is implemented, it makes sense to do away with the subsidies, given that people will get money directly into their bank accounts. The point is this is easier said than done. Any government trying to do away with fertiliser subsidy will immediately be labelled anti-farmer. The food subsidy is the really tricky part. At ₹1.84 trillion, it is the largest of the subsidies offered by the central government. How does it work? The Food Corporation of India (FCI) along with state procurement agencies buys rice and wheat directly from farmers at a minimum support price, announced by the government. This rice and wheat bought, is then sold through the public distribution system (more popularly referred to as ration shops) at a much lower price. The government the compensates FCI for this subsidy through the food subsidy allocated in the budget. If this subsidy is done away with or even cut, then the rice and wheat buying by FCI and other state procurement agencies, will have to be cut or done away with. In this scenario, what happens to the FCI and other state procurement agencies? Will they be dismantled? Further, what will happen to the public distribution system? These are questions that will need to be answered before NYAY is launched. In fact, the public distribution system works well in states like Chhattisgarh and Tamil Nadu. What will happen there? The state of Punjab benefits the most through FCI buying rice and wheat directly from farmers. In fact, given that the FCI has a very good procurement system in Punjab, the farmers grow a lot of rice, in what is basically a semi-arid region. What will happen in the state of Punjab, if the procurement system is done away with? These are very difficult questions with answers which may perhaps even be politically suicidal. What about taxes? When it comes to basic income, economists have called for different kinds of taxes, from tax on agriculture income, to re-introduction of wealth tax and estate duty. These forms of taxes are fairly unpopular and it remains to be seen if any government will introduce them and face the wrath of the taxpayer. Nevertheless, one thing that can be done is to take a look at the tax incentives available to corporates. Along with every budget, the government puts out a Statement of Revenue Impact of Tax Incentives under the Central Tax System. When it comes to central excise duty and customs duty, the data is available only up to 2016-2017. In that year, the revenue impact of major tax incentives stood at ₹1.46 trillion. While, it is easy to point out that such exemptions exist, it won’t be so easy to do away with them. Another good source of revenue can be central public sector enterprises, which are sitting on a huge amount of land and other assets. Vijay Joshi, Reader Emeritus in Economics, University of Oxford, in his book India’s Long Road estimates that the value of enterprises owned by the government is around 40-45% of the GDP. The problem is that in all these years, no government has really managed to sell public enterprises to private companies, which is where they can hope to earn a good premium over the prevailing price. If the government gets around to the idea of selling public sector enterprises, a lot of money can be raised to finance. The trouble is the Congress Party has never believed in the idea of selling public sector enterprises (not that the BJP does either). To conclude, NYAY is basically a scheme, whose time has come. Having said that, it will be very difficult to implement. Identifying the people who are actually eligible for the scheme will be difficult. Hence, it is important the scheme is piloted well and then implemented throughout the country. Many systems which have been put in place will have to be challenged and junked. The problem is that with every system there come people who have benefitted and continue to benefit from the system, and hence, have a huge nuisance value. Will the Congress Party, if elected, be able to overcome this nuisance, is something that remains to be seen.

Can Congress' basic income scheme end India's poverty?

<ul><li>Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword> on Thursday presented the Interim Budget 2024-25.</li><li>This budget outlines expenditures and revenues till the formation of the next government.</li><li>Here are the top highlights and major announcements of the Interim Budget 2024-25.</li></ul> Finance Minister Nirmala Sitharaman while presenting the Interim Budget 2024-25 at <keyword id="19895397" type="General" weightage="20" keywordseo="parliament" source="keywords">Parliament</keyword> on Thursday, February 1 announced that the FY25 capex outlay has been increased by 11.1% to ₹11.11 lakh crore. The FY25 capex outlay is now at 3.4% of the GDP. Fiscal deficit, the gap between the government’s revenue and expenses, is expected to be 5.8% of gross domestic product, said the FM. “The gross market borrowing for the financial year ending March 2025 will be ₹14.3 lakh crore (less than the borrowing in the current financial year).” The FM began her speech by giving a summation of the Narendra Modi government's performance in the past ten years. "The Indian economy has witnessed positive transformation in the last 10 years. Our development steps have covered all elements of inclusivity," she said. This is the final budget of the second term of the Narendra Modi government before the country heads to elections later this summer. Sitharaman stressed on the government's aim to make India developed -- Viksit Bharat – by 2047. The government has tried to provide inclusive development and growth, both socially and geographically, she said in the opening minutes of her sixth budget speech as the country’s finance minister. It is to be noted that this Vote on Account or an Interim Budget is only for the next three months as the next government after the election will come out with a comprehensive budget for the financial year 2024-25 later. In other words, this budget outlines expenditures and revenues till the formation of the next government. Key announcements by Finance Minister Nirmala Sitharaman: <ol><li>No relief for taxpayers: Same tax slabs to continue, says FM. “I propose to retain the same tax rates for direct and indirect taxes.”</li><li>FY25 divestment target at ₹50,000 crore. The FY24 target has been curbed to ₹30,000 crore</li><li>Gross market borrowing for FY ending March 2025 will be ₹14.3 lakh crore.</li><li>FY25 capex outlay increased by 11.1% to ₹11.11 lakh crore. The FY25 capex outlay is now at 3.4% of GDP.</li><li>The revised estimate of the fiscal deficit is 5.8% of GDP. The FY25 fiscal deficit target is set at 5.1%.</li><li>The FY25 revenue deficit is set at 2% versus FY24 revised estimate of 2.8%</li><li>The FDI during 2014 to 2023 was $596 billion. India is negotiating bilateral treaties with foreign partners. FM adds that FDI is now “First Develop India”.</li><li>Three major economic railway corridors announced to boost GDP. This includes an energy mineral and cement corridor, port connectivity corridor and high traffic density corridor.</li><li>40,000 rail bogies to be converted to Vande Bharat standards. Airports have doubled to 149 in the last decade.</li><li>Boost for tourism: Projects for enhancing tourism revenue will be taken up, especially for islands, including Lakshawdeep.</li><li>FM says the government has assisted 25 crore people to escape from multidimensional poverty.</li><li>Free ration: Worries of food have been alleviated as 80 crore people are provided with ration.</li><li>Direct benefit of ₹34 lakh crore via Jan Dhan has led to savings of ₹2.7 lakh crore for the government.</li><li>The PM PM SVANidhi scheme has supported over 78 lakh vendors. Out of this, 2.3 lakh vendors have received loans more than two times.</li><li>11.8 crore farmers have been assisted under the PM Kisan Yojna.</li><li>₹30 crore Mudra loans have been given to women entrepreneurs in the last ten years.</li><li>Average real income of people has risen by 50%.</li><li>India-Middle East-Europe Economic corridor is a game changer for India and others.</li><li>Artisanal support: PM Vishwakarma Yojana provides end-to-end support to artisans and crafts people engaged in 18 trades.</li><li>GDP new definition: FM Sitharaman has said that the government is focussed on GDP (governance, development and performance)</li><li>Real estate boost: Government close to achieving the target of three crore houses under the PM Awas Yojana Grameen. Additional two crore houses to be built in five years.</li><li>Sustainability &amp; free electricity: Rooftop solarisation scheme announced to help one crore houses, enabling free electricity and selling of surplus energy. First three hundred units for solar homes.</li><li>Nari Shakti: FM says that female enrolment in higher education is up by 28% in 10 years in STEM courses. Free healthcare under Ayushman Bharat to be extended to Asha workers and Anganwadi workers.</li><li>Target for Lakhpati Didi scheme enhanced from 2 crore to 3 crore.</li></ol>

Interim Budget 2024: FY25 capex hiked 11%; no change in tax slab, says FM Sitharaman

<keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> has embraced technology in every field of activity. It is adopting smart farming methods through technology and innovation in the agriculture sector and this may prove to be a game changer in the days to come by substantially raising farmers income. How is this method beneficial? Smart farming involves the application of sensors and automated irrigation practices. It can help monitor agricultural land, temperature and soil moisture. This would enable farmers to monitor crops from anywhere. Moreover, smart farming can help integrate digital and physical infrastructures, which would benefit small farmers. Agri-based startups can reach out to the farmers and help them gain access to such viable and cost-effective solutions. Agri-based, tech-driven startups have been very innovative in assisting farmers and revolutionising farming techniques. They have also addressed one of the most powerful headwinds (climate change) through climate-smart farming. In a unique move, the Indian government is implementing a <keyword id="12166469" type="General" weightage="20" keywordseo="Digital-Agriculture-Mission" source="Orion">Digital Agriculture Mission</keyword> (DAM), which includes India Digital Ecosystem of Agriculture (IDEA), Farmers' Database, Unified Farmers Service Interface (UFSI), funding to the states on the new technology (NeGPA), revamping <keyword id="3182679" type="General" weightage="20" keywordseo="Mahalanobis-National-Crop-Forecast-Centre" source="Orion">Mahalanobis National Crop Forecast Centre</keyword> (MNCFC), Soil Health, Fertility and profile mapping. According to a report published by the National Association of Software and Services Companies (NASSCOM) in 2019, there were more than 450 argi-based tech-driven startups in India as of 2019. This number has skyrocketed in the last two years as the sector witnessed a surge in investments and funding. Agri-based tech-driven startups have been very innovative in assisting farmers and revolutionising farming techniques. They have also addressed one of the most powerful headwinds (climate change) through climate-smart farming. Under the NeGPA programme funding is given to the governments in various Indian states for Digital Agriculture projects using emerging technologies like Artificial Intelligence and Machine Learning (AI/ML), Internet of Things (IOT), Block chain etc. Adoption of drone technologies is being done too. To promote smart farming, the government promotes startups in the agriculture sector and nurtures agri-entrepreneurs. The 'Per Drop More Crop' component of the Pradhan Mantri Krishi Sichai Yojana (PMKSY-PDMC) aims to increase water use efficiency at the farm level through micro irrigation technologies like drip and sprinkler irrigation systems. PMKSY is a scheme initiated by Prime Minister Narendra Modi. The <keyword id="87560" type="General" weightage="20" keywordseo="Indian-Council-of-Agricultural-Research" source="Orion">Indian Council of Agricultural Research</keyword> (ICAR) promotes innovation, extension and education in agriculture. A total of 1,575 field crop varieties were released for different agricultural crops during 2014-21. During 2014-21, 91.43 crore agri-advisories were provided to farmers through mobiles. ICAR developed 187 mobile apps on different farm and farmer related services during 2014-21. The agriculture sector plays a vital role in enriching India's economy. Agriculture accounted for almost 17.8 per cent of India's Gross Value Added (GVA) in 2019- 20. According to the World Bank's collection of development indicators, employment rate in the Indian agriculture sector stood at 41.5 per cent in 2020. From a socio-economic standpoint, agriculture is a vital sector which requires focus and awareness at all levels. According to India Brand Equity Foundation, the rising population and changing diets have created a huge pressure on land in India. Farmers are struggling to keep up as crop yields level off, soil degradation rises, water shortage increases, biodiversity declines, and natural calamities become more frequent. Furthermore, agriculture accounts for almost 14 per cent of India's total greenhouse gas emissions. In the meantime, the NITI Aayog (erstwhile Planning Commission of India) conducted a study entitled "Efficacy of Minimum Support Prices on farmers", in 2016, which found, among other things, that MSP declared by the government has encouraged 78 per cent of the farmers covered under the study for adopting improved methods of farming such as high yielding varieties of seeds, organic manure, chemical fertilizer, pesticides and improved methods of harvesting etc. Additionally, oilseeds, pulses and copra of Fair Average Quality (FAQ) are procured from registered farmers under Price Support Scheme of the umbrella scheme of Pradhan Mantri Annadata Aay SanraksHan Abhiyan (PM-AASHA), as per its prescribed guidelines. The Indian national Budget for 2018-19 had announced the pre-determined principle to keep Minimum Support Price or MSP at levels of one-and-half times of the cost of production. Accordingly, government has increased the MSPs for all mandated Kharif (including wheat), Rabi and other commercial crops with a return of at least 50 per cent over all India weighted average cost of production from the agricultural year 2018-19. Moreover, India's National Crop Insurance Portal (NCIP) is the only source of enrolment for Pradhan Mantri Fasal Bima Yojana (PMFBY), on which farmer applications from various designated sources including banks/financial institutions are entered. Specific cut-off dates have been prescribed for enrolment of farmers, debit of premium, remittance of farmers' premium to concerned insurance company and uploading of data of farmers on NCIP. The <keyword id="603825" type="General" weightage="20" keywordseo="Ministry-of-Food-Processing-Industries" source="Orion">Ministry of Food Processing Industries</keyword> (MoFPI) has been incentivising setting of food processing industries through central sector umbrella scheme �Pradhan Mantri Kisan SAMPADA Yojana (PMKSY), Production Linked Incentive Scheme for Food Processing Industry (PLISFPI) and centrally sponsored scheme �PM Formalization of Micro Food Processing Enterprises (PMFME) scheme across all the country. Under scheme of creation of infrastructure for agro processing clusters, a component scheme of PMKSY, the scheme is aimed at development of modern infrastructure and common facilities to encourage entrepreneurs to set up food processing units based on cluster approach and also to create modern infrastructure for food processing closer to production areas and to provide integrated and complete preservation infrastructure facilitates from the farm gate to the consumer. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/india-must-pitch-for-rupee-as-dollar-distancing-might-be-finally-happening-sbi-ecowrap/articleshow/93513940.cms">India must pitch for Rupee as dollar distancing might be finally happening: SBI Ecowrap</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/snapchat-comes-to-india-with-exclusive-features-heres-how-much-it-costs-and-how-to-sign-up/articleshow/93513880.cms">Snapchat+ comes to India with exclusive features — here's how much it costs and how to sign up</a>

Smart farming can prove to be a game changer in the coming days

<ul><li>The Modi government has allocated ₹2.83 lakh crore for agriculture, this includes ₹1.73 lakh crore for rural development and panchayati raj and the rest is for irrigation. </li><li>She also emphasised that agricultural markets need to be opened and liberalised and the fisheries, animal husbandry and dairy needs to be provided for.</li><li>Sitharaman in her budget speech also said the government will provide 20 lakh farmers standalone solar pumps in a bid to promote smart irrigation. </li></ul> The Modi government has allocated ₹2.83 lakh crore for agriculture, this includes ₹1.73 lakh crore for rural development and panchayati raj and the rest is for irrigation. "We have provided for 11 crore farmers through Prime Minister Kisan Beema Yojana. Provision of annual assistance to the farmer is made sure through PM Kisan Yojana," the Finance Minister said. She also emphasised that agricultural markets need to be opened and liberalised and the fisheries, animal husbandry and dairy needs to be provided for. She presented 16 points focused on farming, agriculture and irrigation. "We will encourage states to take up model agricultural laws, comprehensive measures for 100 water stressed districts, Prime Minister Kusum scheme removes dependence on kerosene and encourages use of solar power, the government will also encourage balanced use of fertilisers. This is an important step because currently use of chemical fertilisers is incentivised." Sitharaman in her budget speech also said the government will provide 20 lakh farmers standalone solar pumps in a bid to promote smart irrigation. Moreover, 15 lakh farmers will get solarise grid connected pump sets. For this, the government has expanded the Pradhan mantri Kisan Urja Suraksha evem Utthan Mahabhiyan (PM KUSUM scheme). PM Kusum was introduced in August 2019 and is committed to add a solar capacity of 25,750 MW by 2022. This comes Both the state and central government aims to double the farmer income by 2022. She also added that the government will “set up solar power generation units and also sell surplus power to the solar grid” in the non-cropping season. This will help farmers to make a living out of barren lands. Apart from this, FM also prosed a Kisan Rail in public-private partnership that will enable transport of perishable goods including fruits, vegetables, dairy products, fish etc. A similar proposal was announced by Mamta Banerjee in 2009-10, however it couldn't be implemented. "To build a seamless national cold supply chain for perishables, the Indian Railways will set up Kisan Rail through PPP model so that perishable goods can be transported quickly," she said. See also: <a href="https://www.businessinsider.in/budget/news/union-budget-2020-live-updates-news-and-highlights/liveblog/73824572.cms">Check live budget 2020 updates here</a>

Agriculture Budget 2020: Nirmala Sitharaman allocates ₹2.83 lakh crore

New Delhi, Apr 15 () The government on Wednesday said that crop insurance claims worth Rs 2,424 crore have been disbursed to farmers across 12 states during the lockdown period.The Union Agriculture Ministry said it has taken several other measures to facilitate farmers and farming activities at field level during the lockdown period.Highlighting these measures, the ministry said that "under the Pradhan Mantri Fasal Bima Yojana (PMFBY), insurance claims amounting to Rs 2,424 crore have been disbursed to the beneficiary farmers in 12 states in the country."The Kisan Credit Card (KCC) saturation drive has been initiated by the ministry in collaboration with the Department of Financial Services to cover all PM-KISAN beneficiaries. "So far 83 lakh applications received out of which 18.26 lakh applications have been sanctioned for loan amount of Rs 17,800 crore," an official statement said. The due date for conversion of agri-gold loan and other agri accounts into KCC Account was March 31 but now it has been extended up to May 31. MJH MKJ

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