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Budget 2020: Govt unveils 16-point action plan to revive agricultural sector

Announcing 16 action points plan for farmers, she said that these measures are underlined by the FM to boost agriculture sector

twitter-logo BusinessToday.In        Last Updated: February 1, 2020  | 12:58 IST
Budget 2020: Govt unveils 16-point action plan to revive agricultural sector
16-point action plan to revive agricultural sector

Budget 2020: Govt unveils 16-point action plan to revive agricultural sector

Finance Minister Nirmala Sitaraman, while presenting her second union budget, has announced 16-point measures to revive the agricultural sector, in line with Prime Minister Narendra Modi's target of doubling farmer income by 2022. Sitaraman, said that the budget 2020 aims to boost the income of people and enhance their purchasing power.

The Union Budget 2020-21 is focused around three themes, namely Aspirational India, Economic development for all and caring society, she said.

Announcing 16 action points plan for farmers, she said that these measures are underlined by the FM to boost agriculture sector. The key highlight of the 16-point action plan includes:

    • Krishi Udan scheme to boost agricultural exports in both international as well as domestic routes
    • 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

    Also Read: Budget 2020 Speech Live Updates: Budget will boost people's income, enhance purchasing power, says Nirmala Sitharaman

    Also Read: Budget 2020: Watch Live Streaming on Aaj Tak, India Today, live telecast channels

    Also Read: Budget 2020 Date: When is Union Budget, Expectations from Modi govt, Time, where to watch

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