Introduction
- While public focus was on middle-class tax relief, the Budget also introduced key agricultural reforms.
- Measures aim to increase productivity, enhance crop diversification, and improve credit access for farmers.
Key Highlights:
Prime Minister Dhan-Dhanya Krishi Yojana
- The Aspirational Districts Programme is an inspiration to this program.
- This focuses on the 100 low-productivity districts with a focus on increasing crop productivity, crop diversification, and access to both long- and short-term credit.
- This will help around 17 million farmers who belong to the poorer end of the income scale.
Six-Year Mission for Pulse Self-Sufficiency
- Targets tur (pigeon pea), masoor (lentil), and urad (black gram).
- Central agencies to procure farmers’ produce for four years, ensuring price stability.
- Aims to reduce dependence on wheat-paddy cycles, especially in Punjab and Haryana.
High-Yielding Seeds and Cotton Productivity Missions
- Focus on developing high-yield seeds to improve productivity.
- Cotton mission aims at enhancing cotton yield and quality to enhance farm incomes.
New Initiatives in Horticulture and Fisheries
- Fruit & Vegetable Programme to address the changing pattern of consumer preference.
- Makhana Board in Bihar to boost production and exports.
- Fisheries sector framework to promote sustainability and export opportunities.
Increasing the Loan Limit of Kisan Credit Card (KCC)
- Loan limit is *increased from ₹3 lakh to ₹5 lakh under the modified interest-subvention scheme. Nearly 77 million farmers benefit from KCC to access cheaper credit.
Rural Prosperity and Resilience Programme
- State partnerships for rural development via: Skill development Technology adoption.
Budget Distribution and Economic Output
- The Agriculture sector will account for a significant 22% increase up to ₹1.71 trillion.
- The economy will also find agriculture one among the four most significant engines driving economic growth.
- As Half of the work force depends upon agriculture productivity increase will, thereby, boost the rural income and enhance the overall consumer demand in the market.
- Affordable food prices
Challenges & Areas for Improvement
- Shifting the workforce out of agriculture remains a more supra policy challenge.
- Food inflation still worries RBI’s monetary policy.
- Weather-related risks threaten productivity. More investment in R&D is essential.
- Only a marginal increase in funding of agricultural research is a missed opportunity for long-term innovating.
