Here’s What FM Sitharaman’s Rs 1.63 Lakh Crore Package has for Agri, Allied Sectors

agri, allied sectorsAimed at strengthening infrastructure, logistics, and capacity building at the farm gate, the government on Friday announced a Rs 1.63 lakh crore package for agriculture and allied sectors.

An overall package of Rs 20 lakh crore to deal with the economic fallout of the COVID-19 pandemic was announced in the third tranche, Finance Minister Nirmala Sitharaman announced a Rs 1 lakh crore Agri Infrastructure Fund that will finance projects at farm-gate and aggregation point for efficient post-harvest management of crops.

Besides, schemes for micro food enterprises, cattle vaccination, dairy sector, herbal plantation, beekeeping, and fruits and vegetables were, also announced.

She said the government will provide Rs 1 lakh crore for aggregators, farmers producers organizations (FPOs), primary Agri cooperative societies, Agri entrepreneurs, and startups under Agri infrastructure fund and the fund will be created at the earliest.

Lack of adequate cold chain facilities and post-harvest management infrastructure in the vicinity of farm gates is causing gaps in the value chain, she said.

Rs 10,000 crore fund to support 2 lakh micro food enterprises (MFEs) for promoting health and wellness, herbal, organic, and nutritional products, was also announced by Sitharaman.

Rs 20,000 crore Pradhan Mantri Matsya Sampada Yojana for the development of marine and inland fisheries will be launched by the government.

Of this, Rs 11,000 crore will be earmarked for activities in marine, inland fisheries, and aquaculture while Rs 9,000 crore for infrastructure creation such as fishing harbors, cold chain, and markets.

The government will also provide employment to over 55 lakh persons and double exports to Rs 1 lakh crore.

The Finance Minister said the ongoing National Animal Disease Control Programme for Foot and Mouth Disease (FMD) and Brucellosis will look at 100 percent vaccination of cattle, buffalo, sheep, goats, and pigs against FMD at an outlay of Rs 13,343 crore.

Also, a Rs 15,000 crore Animal Husbandry Infrastructure Development Fund was announced to support private investment in dairy processing, value addition and cattle feed infrastructure.

The government has launched a Rs 4,000 crore fund to promote herbal cultivation in about 10 lakh hectares of area, she said, adding that the scheme will help generate Rs 5,000 crore income for farmers. Along the bank of Ganga, a corridor of medicinal plants will be developed over 800 hectares area.

Another Rs 500 crore has been earmarked for beekeeping initiatives, helping 2 lakh beekeepers.

The government extended Operation Greens from tomato, onion, and potato to all fruits and vegetables by providing an additional fund of Rs 500 crore. This money would go into providing subsidy on transportation from surplus to deficient markets as well as on storages including cold storages.

The scheme prevents any distress sale by farmers, she said.

Read Other Related News

21-day nationwide lockdown: For many, ePay’s the way to buy essentials
Rs 15,340 crore GST Compensation to states allotted by the Centre
A sharp correction in ICICI Bank’s shares signals an opportunity|Profit Idea
124 Companies slip into liquidation despite theoretical resolution plans Sahara Amar Jeevan

NEED A LOAN?

I have read the Privacy Policy & Agree to Terms & Conditions and authorize Dialabank & its partner institutions to Call or SMS me with reference to my application.


Latest News