Budget aims to strengthen rural economy

The focus of the government will be to provide maximum livelihood opportunities in rural areas, said union minister Arun Jaitley

archana

Archana Mishra | February 1, 2018 | New Delhi


#air pollution   #farmers   #farm sector   #rural economy   #Arun Jaitley   #Budget  


 A significant portion of the budget pie on Thursday went to the farm sector.

Union minister Arun Jaitley, who presented the union budget 2018-19, said the effort was to particularly strengthen agriculture and rural economy and the government was committed to the welfare of farmers.
 
He spoke of prime minister Narendra Modi’s call to doubled farmers’ income by 2022 and announced a budgetary allocation of Rs 14.34 lakh crore for the agriculture sector.
 
He announced a hike in the Minimum Support Price (MSP) on the agricultural produce by 1.5 times on the input cost.
 
In the last four years, the MSP has been substantially low, giving marginal returns to farmers. A recently released paper by Swaraj India shows that the average market prices were below the set MSPs in November 2017. During this month maize was selling at Rs 1,162 while its MSP WAS Rs 1,425. Paddy was selling at Rs 1,431 while its MSP was Rs 1,550. The subsequent drought and poor return has pushed farmers in debt, leading to suicides. 
 
Agreeing to the fact that raising MSP is not the only solution, the finance minister announced developing a policy framework and concrete mechanism with the help of Niti Aayog, different ministries and states to ensure benefits can reach the last mile. It includes strengthening of 22,000 rural ‘haats’ by converting them into rural agriculture market and connecting them directly to e-NAM (National Agriculture Market) – an electronic trading portal to help farmers in selling their produce. Rs 2000 crore has been allocated for the upgradation.
 
Operation Green is a new addition to bring reform in the sector.  The Rs 500 crore project will provide agri-logistic support to potato and onion growers. The government aims to run this project on the lines of Operation Flood by making the market of these perishable items self-sustainable and reducing price variations.
 
Subsidised machinery for the management of crop residue will beprovided to farmers in Haryana, Punjab and Uttar Pradesh so as to tackle stubble burning that leads to air pollution in Delhi.
 
The budget has raised the institutional credit to 11 lakh crore this years and Rs 10,000 crore for the development of fisheries, aquaculture and animal husbandry. Rs 26,000 crore is allocated to Prime Minister Krishi Sinchayee Yojana. The minister announced an increase in funds allocated for the National Rural Livelihood Mission to Rs 5,750 crore in 2018-19, from Rs 4,500 crore in 2017-18.
 
“The focus of the government next year will be to provide maximum livelihood opportunities in rural areas by spending more on livelihood, agricultural and allied activities and construction of rural infrastructure,” Jaitley said.
 

Comments

 

Other News

How inequality keeps rising amid pandemic – and is killing people

The world’s ten richest men more than doubled their fortunes from $700 billion to $1.5 trillion (at a rate of $15,000 per second or $1.3 billion a day) during the first two years of a pandemic while the incomes of 99 percent of humanity fall and over 160 million more people forced into poverty. A new

Vistadome coaches on Central Railways a hit with passengers

The Vistadome coaches on Central Railways have received an overwhelming response from passengers. Not only have they boosted tourism and registered an occupancy of 20,407 passengers but also clocked revenue of Rs.2.38 crore between October and December 2021.   The CSMT-Madgaon-CSMT Jansh

Omicron on relentless run: India records 2.68 lakh cases

India is once again caught in a spike of Covid-19 cases, with the highly transmittable omicron driving numbers. The total cases in the country continued to increase on Saturday, recording 2.68 lakh cases in 24 hours. India`s active caseload currently stands at 14,17,820 or 3.85%, while the r

Bill Gates, charity and the dilemma of already successful people

Mantra and the meaning of Success By Rajesh Talwar Bridging Borders, 288 pages Rajesh Talwar, who works as Deputy Legal Adviser to the United Nations Mission in Afghanistan, has written 31 books, and on January 15 he is releasing one more. ‘

An inquisitive reader’s guide to Ramayana, Mahabharata and the Puranas

Essence of the Fifth Veda By Gaurang Damani Divine Destination, 234 pages, Rs 350 ‘Veda’ literally means ‘knowledge’.

Humility: Going beyond binaries to deliver justice to tribals

Being Adivasi: Existence, Entitlements, Exclusion [Part of ‘Rethinking India’ series] Edited by Abhay Flavian Xaxa and G.N. Devy Penguin, xxvi+182 pages, Rs 699 ‘Being Adivasi: Existence, Entitlements, Exclusion’ (Penguin India), edited by

Visionary Talk: Farmer`s Agitation, Rakesh Tikait with Kailashnath Adhikari


Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter