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Sitharaman announces govt to increase farmer revenue by 2022

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  • Finance Minister Nirmala Sitharaman stated that the Modi government is striving to increase the income of farmers by 2022. The minister stated that the government is offering a 16-point action plan to boost agriculture and farmers welfare.
  • The agriculture market, FM Sitharaman said, needs to be liberalised and farming needs to be made more competitive. She said that the government will handhold farmers for all farm-based activities and ensure sustainable cropping patterns.

The minister stated that agriculture assistance requires extensive expenses. She continued that the government has insured 6.11 crore farmers under the Pradhan Mantri Fasal Bima Yojana.

To support the farmers, the government has recommended extensive areas for 100 water-stressed areas. Twenty lakh farmers will be given funds to set up standalone solar pumps. “Farmers will be allotted to set up solar units on barren/fallow lands,” she stated.

And, Target for Agricultural credit has been increased to Rs 15 lakh crore from Rs 12 lakh crore

  • Agriculture and irrigation has been allotted Rs 2.83 lakh crore for FY21
  • Rural Development and Panchayati Raj have been allotted Rs 1.23 lakh crore
  • Expansion of NABARD Refinancing Scheme while MGNREGS to be used to develop fodder farm
  • Fish production to be raised to 200 lakh tonnes by 2022-23
  • By 2025, milk processing capacity to be doubled to 108 MT
  • Government proposes measures to improve situation in 100 water-stressed districts
  • Government to set up 20 lakh to benefit farmers
  • Kisan Rail to be setup in PPP mode for perishable goods
  • One product for one district, so that focus is given at district level for horticulture to gain momentum
  • Government to focus on Zero Budget farming
  • e-NAM to be integrated with financing of negotiable warehousing recipts
  • Farm markets to be liberalised
  • Balanced use of fertilizers in the farm lands
  • In a bid to liberalise agricultural markets, the govt plans handhold farmers

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