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Agriculture and the Union Budget 2019

The Union Government led by the Prime Minister Mr. Narendra Modi has been criticized a number of times in the past for being reluctant to the needs of the farmers in the Country. During his tenure farmers across different states in the country have led a number of rallies and protests demanding deduction in agricultural loan interest rates and also to exempt agricultural loans once for all.

Union Budget 2019

The government though continues to bring out a number of measures in the welfare of the country’s farmers. The schemes that have been initiates in the interests of farmers include . (Ministry of Agricluture & Farmer’s Welfare)

  • Prime Minister Fasal Bima Yojana – which covered 3.1 crore farmers from the 23 states of the country
  • Soil health card scheme – where soil health cards were issued every 3 years for all the farmers in the country after studying the quality of the soil in the laboratory.
  • Paramparagat Krishi Vikas Yojana – where measures for organic farming are mediated to the farmers of the country.
  • National Agricultural market – under this scheme 250 food storage go-downs from 10 Indian states have been integrated through the e-NAM scheme.
  • e-rakam portal 2017: With the help of this portal farmers could sell their agricultural yield online directly.
  • Agri UDAAN: This initiate promotes entrepreneurship in agricultural sector.
Union Budget 2019 Image
Union Budget 2019

What the Union Budget holds for the Nation’s Farmers: Union budget 2019

On February 1st, 2019, The Interim budget for the financial year 2019-20 was presented by the Financial Minister Piyush Goyal. This is the 89th Budget announcement of Independent India and the 6th budget of the Modi led BJP government. Its attributes for the welfare of the farmers in the country are,

  • All the 22 crops have been placed under the Minimum Support Price Scheme.
  • The need has been realized to offer structured support to the poor farmers in the country to buy seeds and fertilizers.
  • Farmers who own 2 hectares of land would get a direct income support of Rs.6000 a year which is payable in 3 equal instalments of Rs.2000 each. This support would be transferred directly into the bank account of farmers.
  • The programme is set to be implemented from December 2018 and would benefit 12 crore families in the country. This would cost an additional Rs.75, 000 crore to the government every year.
  • Assured supplementary income will be offered to vulnerable farmers to enable them a respectable life.
  • Farmers who have been affected by natural calamities would be given an additional 3% interest subsidy on their crop loans.

Verdict:

Apart from implementing a number of schemes for the welfare of farmers in the country, the government has also announced useful tax rebates for farmers in its union budget 2019. Hope this would support the farmers in the country and they would continue to extend their support to the existing government in their 2019 elections.

This Post Was Written on Business News & Breaking News

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