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Budget 2020: Sitharaman says govt to double farmer income by 2022; key highlights

Budget 2020: To help the farmers, the government has proposed comprehensive measures for 100 water-stressed districts

twitter-logoBusinessToday.In | February 1, 2020 | Updated 12:02 IST
Budget 2020: Sitharaman says govt to double farmer income by 2022; key highlights
Budget 2020: Agri sector needs copious investments, she said

Budget 2020: Finance Minister Nirmala Sitharaman said that the Modi government is aiming to double the income of farmers by 2022. The minister said that the government is proposing 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 said that agriculture service needs copious investments. She added that the government has insured 6.11 crore farmers under the Pradhan Mantri Fasal Bima Yojana.

To help the farmers, the government has proposed comprehensive measures for 100 water-stressed districts. Twenty lakh farmers will be provided funds to set up standalone solar pumps. "Farmers will be allowed to set up solar units on barren/fallow lands," she said.

FULL COVERAGE:Union Budget 2020

The government will encourage state governments who implement Model Agricultural Land Leasing Act of 2016, Model Agricultural Produce and Livestock Marketing Act of 2017 and Model Agricultural Produce and Livestock Contract Farming and Services Promotion and Facilitation Act of 2018 laws.

The minister further said that balanced use of fertiliser will bring about change in the prevailing regime of providing incentive for use of chemical fertiliser. "Government proposes plans to help farmers use proper manure and little water, encourage balanced use of fertilizers," she said in her Budget 2020 speech.

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

The Finance Minister further added that FCI and Warehousing Corporation of India would build warehousing facility on the land of farmers. NABARD would map and geo-tab 162 million tonne capacity agricultural warehouses across the country. 

"Krishi Udaan to be launched by Civil Aviation Ministry to transport agri-products to national as well international destinations. Indian Railways to set up Kisan Rail in PPP mode for cold supply chain to transport perishable goods," stated the minister.

The minister said that the three key points for the Budget 2020 are - aspirational India, economic development for all and making a caring society.

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

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

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