Agriculture

Budget on
ARICULTURE
2023
Introduction
In the 75th year of our Independence, the world has recognized the Indian economy as a ‘bright star’.
Our current year’s economic growth is estimated to be at 7 per cent. This is highest among all the major
economics. In spite of the massive slow down globally caused by covid-19 and a war. The Indian economy is
on the right track despite of the challenges, heading towards the bright future. Indian government has
provided Many key provisions for agriculture and farmer’s welfare in the budget for the year 2023-2024.
Our Prime Minister Shri Narendra Modi and finance minister Smt. Nirmala Sitharaman the union
agriculture and farmer’s welfare minister Shri Narendra Singh TOMAR said that the budget aims at inclusive
and comprehensive development of farmers, besides the poor and the middle class, women and the youth.
Shri TOMAR said the small farmers will be benefited from the budget.
According to PM the budget lay emphasis on promoting modernization in

agricultural sector by linking agriculture with technology so that farmers will be
benefited for a longer run.
India government provided many schemes
for the welfare of the farmers. Two major
schemes-Market Intervention Scheme and
Price Support (MIS-PSS) and Pradhan Mantri
Annadata Aay Sanrakshan Yojana (PM-
AASHA).
1. Agri-startups by young
entrepreneurs will be supported by the
launch of an Agriculture Accelerator
Fund.
An Agriculture Accelerator Fund will be set up to

encourage Agri-startups by young entrepreneurs in rural
areas, said Finance Minister Nirmala Sitharaman, during
the presentation of the Union budget 2023-24. The fund
will aim at bringing innovative and affordable solutions for
challenges faced by farmers.
2.The agricultural credit will be raised
to Rs.20 trillion, with an emphasis on
dairy, fi sheries, and animal husbandry.
The credit target for agriculture and allied

sector has been announced to be increased to 20
lakh crore with focus on animal husbandry, dairy
and fisheries. This will substantially improve flow
of institutional finance for fisheries sector. Further
the announcement to reduce import duty on
certain inputs required for shrimp feed is expected
to lower the cost of imports and the cost of
production and as a result will boost and promote
aquaculture exports. Reduction in basic customs
duty on fish meal from 15% to 5%, on krill meal
from 15% to 5%, on algal Prime (flour) from 30%
to 15%, on fish lipid oil from 30% to 15% and on
mineral and vitamin premixes from 15% to 5% for
manufacturing of aquatic feed is expected to
reduce cost of feed, promote domestic feed
including and to substantially improve export
competitive of Indian shrimps.
3. PM Matsya Sampada Yojana.
A new sub-scheme of the PM Matsya Sampada Yojana will

be introduced with a targeted investment of Rs.6,000 crore to
further enable the activities of fish vendors, fishermen, and micro-
and small businesses, increase the efficiency of the value chain,
and broaden the market. FM Nirmala Sitharaman has announced
the launch of a new sub-scheme under the PM Matsya Sampada
Yojana with a Rs 6,000 crore target investment to boost the
seafood industry, improve post-harvest management and
marketing, and help expand markets for fishermen, fish vendors,
and SME vendor
4. The Center will empower 10 million farmers to
switch to natural farming.
The centre will empower 10 million farmers to switch

to natural farming. Empowering farmers with natural
farming techniques. natural farming is a chemical free
traditional farming method. Multipronged eﬀorts by The
Art of Living Yuvacharyas, agricultural trainers and several
government authorities are helping farmers across the
nation. The Art of Living conducts training programs on
natural farming in all states. Along with theoretical input
on indigenous seeds, indigenous cows, diﬀerent natural
fertilizers and natural pesticides, trainers also discuss with
practical demonstration.
5. To assist farmers in storing their
produce and obtaining fair prices
through timely sales, a sizable
decentralized storage capacity will
be set up.
To assist farmers in storing their produce and obtaining fair prices through timely
sales, a sizable decentralised storage capacity will be set up. Government will also help
set up cooperative societies, primary fisheries societies, dairy cooperative in uncovered
panchayat villages in next 5 years. To assist farmers in storing their produce and obtaining fair
prices through timely sales, a sizable decentralized storage capacity will be set up. To reduce the
supply of certain farm products Roosevelt had Congress pass a law allowing him to pay
farmers for planting less. This way the supply of many items such as oats, cotton, corn,
etc. could be reduced.
6. Indian Institute of Millet Research in Hyderabad
becomes 'Centre of Excellence.
The Indian Institute of Millet Research here will soon

get a facelift as Finance Minister Nirmala Sitharaman on
Wednesday announced that it will be supported as 'Centre of
Excellence' for sharing best practices, research and
technologies at the international level. The Indian Institute
of Millet Research here will soon get a facelift as Finance
Minister Nirmala Sitharaman on Wednesday announced that
it will be supported as 'Centre of Excellence' for sharing best
practices, research and technologies at the international
level. In her Union Budget speech, she noted that India is
the largest producer and second largest exporter of Shree
Anna' (millets) in the world, which has numerous health
benefits and also an integral part of food for centuries.
7. A Digital Public Infrastructure.
A Digital Public Infrastructure for Agriculture

will be created as an open source, open
standard, and interconnected general welfare.
It will make it possible for solutions that are
inclusive of farmers and help to increase access
to farm inputs, market intelligence, and support
for startups in the agriculture sector.
8. PM-PRANAM Programme.
"PM Programme for Restoration,

Awareness, Nourishment and Amelioration of
Mother Earth" will be launched to incentivise
states and union territories to promote alternative
fertilisers and balanced use of chemical
fertilisers," the FM said. PM-PRANAM aims to
reduce the use of chemical fertilisers in agriculture.
Presenting the last full Union Budget of the
Narendra Modi-led National Democratic Alliance
(NDA), Union Finance Minister Nirmala
Sitharaman on Wednesday (February 1) said
government will be launching PM Promotion of
Alternate Nutrients for Agriculture Management
Yojana (PM Pranam) scheme.
9. A Rs.2,516 crore investment was
made to start computerizing 63,000
Primary Agricultural Credit Societies
(PACS).
A Rs. 2,516 crore investment was made to start

computerising 63,000 Primary Agricultural Credit
Societies(PACS). They have decided to computerise all
these PACS with the help of NABARD. there will common
software for all PACS, and NABARD will get details on a
daily basis such as daily business and recovery of these
PACS. PACS are village level cooperative credit societies
that serve as the last link in a three-tier cooperative
credit structure headed by the State Cooperative Banks
(SCB) at the state level. Credit from the SCBs is
transferred to the district central cooperative banks, or
DCCBs, that operate at the district level. The DCCBs work
with PACS, which deal directly with farmers.
10. Govardhan Scheme.
Govardhan (Galvanizing organic bio-Agro resources Dhan ) will establish 500 new
"waste to wealth" plants to promote the circular economy. At a total investment of 10,000
core, these will include 200 compressed biogas (CBG) plants, 75 of which will be in urban
areas, and 300 community or cluster-based plants. Govardhan scheme is being pursued as a
national programme priority under Swachh Bharat Mission Grameen-Phase II.
GOBARdhan aims to support villages in effusively managing their Cale and biodegradable
waste.
Conclusion
THANK YOU
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Budget on

According to PM the budget lay emphasis on promoting modernization in

An Agriculture Accelerator Fund will be set up to

The credit target for agriculture and allied

A new sub-scheme of the PM Matsya Sampada Yojana will

The centre will empower 10 million farmers to switch

The Indian Institute of Millet Research here will soon

A Digital Public Infrastructure for Agriculture

"PM Programme for Restoration,

A Rs. 2,516 crore investment was made to start

Sample Footer Text

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