The agri sector was under intense pressure to cut imports before to the budget. We are joined by Harish Mehta, Senior Adviser, Crop Care Federation of India, to talk about how this budget met our expectations.
The amount of storage available to the agricultural industry will be increased by the government. A target of Rs 20 lakh crore will now be set for agricultural financing. On an annual basis, it will rise by 11.1%. Under the PPP program, the government has created a plan for cotton. Farmers will be able to keep their food and fetch higher prices for it as a result. Over the next five years, assist in the establishment of numerous cooperatives, primary fisheries organizations, and dairy cooperatives in undeveloped villages.
In her presentation of the Union Budget for 2022–2023, Finance Minister Nirmala Sitharaman stated that 163 lakh farmers would receive a direct payment of the MSP price of Rs. 2.37 lakh crore. A PPP-based program will be introduced to offer farmers digital and high-tech services. A fund will be established to provide finance for new agricultural and rural business ventures.