Finance Minister announces stimulus of 1.63 lakh crore for agriculture sector

Finance Minister announced on Friday a 1.63 lakh crore stimulus for the agriculture and allied sector fighting the COVID-19 crisis. The measure is aimed at building infrastructure capacities. This is the 3rd press conference following the Prime Minister’s announcement of 20 lakh crore package for economic revival.

FARMERS

In the past 2 days, the Finance Minister’s press conferences addressed the concerns of MSME’s and migrant workers. Today the government announced measures for the agriculture sector in the next press conference.

The Finance Minister also noted the measure taken by the Government in the past months such as Minimum Support Prices (MSP) purchases of Rs. 73,300.

Further announcements by Finance Minister

The new announcements made by the Finance Minister includes measures such as

  1. Development of farm gate infrastructure such as setting up of cold chains and post-harvest management of crops worth of Rs. 1 lakh crore.
  2. Fund worth Rs.10000 crores for the formalization of Micro-Food Enterprises (MFE). And also help the MFE’s get technical enhancement and attain FSSAI food standards.
  3. Coverage of 10 lakh hectare of herbal cultivation under National Medical Plants Fund worth Rs. 4000 crore.
  4. A Rs.500 crore scheme for infrastructure development and post-harvest facilities for beekeepers.
  5. Rs. 20000 crore has been provided for fishermen for the development of inland and marine fisheries.
  6. 50% subsidy on transportation and storage of all fruits and vegetables under Operation Green.
  7. Setting up of Animal Husbandry Infrastructure Relief Fund worth Rs.15000 crore to support investment in dairy processing, value addition, and cattle feed infrastructure.
  8. Launch of Animal Husbandry Infrastructure Development Fund with Rs. 13,343 crores for 100% vaccination for cattle, buffalo, sheep, goat, and pig population in India.
  9. Additional Rs. 500 crores for infrastructure development related to beekeeping. This is supposed to increase income for 2 lakh beekeepers.

Apart from this the Finance Minister also announced amendments made to the Essential Commodities Act which allows no production or stock limit. Marketing reforms were also announced in Agriculture Produce Market Committee (APMC) which will help farmers be less dependent on APMC and provide marketing choices to farmers.

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