Union Budget 2024-25: Big push for agriculture to improve productivity, revolutionize agricultural research

“In the next two years, 1 crore farmers will be initiated into natural farming supported by certification and branding,” Union Finance Minister Nirmala Sitharaman said in her Budget speech, in New Delhi on July 23, 2024. File | Photo Credit: Nagara Gopal

Prioritizing the welfare of farmers and the development of the agriculture sector, Finance Minister Nirmala Sitharaman, in her Union Budget for 2024-25, on July 23 announced that the government will undertake a comprehensive review of agricultural research set-up to bring focus on improving productivity and develop climate-resilient varieties. ₹1.52 lakh crore has been allocated for agriculture and allied sectors, the Finance Minister said as she presented the Budget for the fiscal year 2024-25.

The government will work with States to promote digital public infra for agriculture, the Finance Minister said. “Funding will be provided in challenge mode including to the private sector and domain experts from the government and outside will oversee the conduct of such research,” Ms. Sitharaman said in the Lok Sabha.

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“In the next two years, 1 crore farmers will be initiated into natural farming supported by certification and branding. Implementation will be through scientific institutions and willing Gram Panchayats,” the Minister announced.

The Finance Minister announced that 109 new high-yielding and climate-resilient varieties of 32 field and horticulture crops will be released for cultivation by farmers.

On missions for pulses and oilseeds, the Finance Minister said the government will strengthen their production, storage and marketing. “A strategy is being put in place to bring in Atma Nirbharta in oilseeds such as mustard, groundnut, sesame, soybean and sunflower,” Ms. Sitharaman said.

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Large-scale clusters of vegetable production will be set up near consumption centres, she announced.

The government will promote farmer producer organizations, cooperatives and start-ups for vegetable supply chains including for connection, storage and marketing, Ms. Sitharaman noted.

Digital public infrastructure in agriculture

On push to digital public infrastructure in agriculture for coverage of farmers and their land, the Finance Minister said, “During this year, digital crop survey for kharif will be taken up in 400 districts. The details of six crore and their land will be brought into farmer and land registries. The issuance of Jan Samarth-based kisan credit cards will be enabled in five States.”

The government will provide financial support for shrimp farming, processing and export, she added.

The government also announced a National Cooperation Policy for systematic and orderly all-round development of cooperative sector. “Fast-tracking growth of rural economy and generation of employment opportunities on a large scale will be the policy goal,” Ms. Sitharaman said in her Budget 2024 speech.

Finance Minister Nirmala Sitharaman created history as she presented her seventh straight Budget and the first Budget by the BJP-led NDA government since it was re-elected last month. Since her appointment as the Union Finance Minister in 2019, Ms. Sitharaman has presented six straight budgets, including an interim one in February this year. This was because an incumbent government cannot present a full Budget just before the Lok Sabha polls which were held in seven phases from April to June. Former Prime Minister Morarji Desai presented five consecutive full budgets and one interim budget between 1959 to 1964.