Agriculture / The Economic Times
Industry leaders have praised the Union Budget 2025-26 for its agricultural initiatives, especially the focus on technology and seed development, though some sector-specific demands remain unmet. Highlights include a Rs 5 lakh Kisan Credit Card loan limit, emphasis on climate-resilient crops, and support for reducing import dependencies. Effective implementation is crucial for achieving these goals.
India Budget: Finance Minister Nirmala Sitharaman, in the Union Budget 2025, announced an increase in the Kisan Credit Card limit to Rs 5 lakh, benefiting 7.7 crore farmers. The government will also enhance credit guarantee for MSMEs and introduce customized credit cards for micro-enterprises. Export-oriented MSMEs can avail term loans of up to Rs 20 crore.
India will launch a mission for high-yielding seeds and establish a 'Makhana Board' in Bihar to boost fox nut production, announced Finance Minister Nirmala Sitharaman. The government also plans a five-year mission to enhance cotton production, and measures to sustain fisheries harvest.
Finance Minister Nirmala Sitharaman announced measures to benefit 1.75 crore farmers through the Prime Minister Krishi Yojana, which aims to enhance agricultural development. The program will cover 100 low-productivity districts, focusing on crop diversification, sustainable practices, and post-harvest storage improvements at the panchayat and block levels.
India's sugar production for the 2024-25 season is projected to drop by 15% to around 27-27.2 million tonnes due to early flowering of sugarcane and lower yields in key states. This decline, attributed to changes in weather and crop infestations, is expected to impact the stock and sales rate.
Agricultural credit disbursement in the current fiscal has reached Rs 19.28 lakh crore by December 2024, achieving 70% of the FY25 target of Rs 27.5 lakh crore. This emphasizes notable progress in credit support to the agricultural and allied sectors, reflecting targeted credit policies' effectiveness.
Union Minister Shivraj Singh Chouhan announced potential policy changes to simplify agriculture, suggesting subsidies for fertilisers and farming equipment through direct benefit transfer. The government is also considering covering transportation costs for agricultural produce to support farmers. These measures aim to make agriculture more efficient and reduce costs for consumers, while informing farmers about existing schemes.
Agriculture Minister Shivraj Singh Chouhan announced that the government is planning a model to enable farmers to sell their produce directly to consumers, minimizing the role of middlemen. This 'farm to consumer' model aims to maximize farmers' benefits and contribute significantly to India's development.
Agriculture Minister Shivraj Singh Chouhan announced that the government is developing a model to enable farmers to sell their produce directly to consumers, thereby minimizing middlemen. The initiative aims to maximize farmers' benefits. Chouhan also reaffirmed the government's commitment to supporting farmers with various measures and schemes.
The govt is aiming to boost agricultural spending by 15% to $20 billion in the 2025/26 budget to improve rural incomes and curb inflation. The funds will focus on developing high-yield crops, enhancing storage and supply chain infrastructure, and boosting pulse, oilseed, vegetable, and dairy production.