The Union Budget for 2024- 25 is expected to focus on smart agriculture, research and development, transparency through blockchain, IoT devices for precision farming, and ERP solutions for sustainable farming practices.
Interim Budget 2024: The government is likely to significantly enhance allocation for key farm sector schemes and push credit in the interim Budget to boost rural economy as growth in the agriculture sector is projected to decelerate to 1.8% in 2023-24 from 4% a year ago
The government is likely to announce in the upcoming interim Budget a substantial increase in the agricultural credit target to ₹22-25 lakh crore for the next fiscal and ensure every eligible farmer has access to institutional credit
Interim Budget: The union budget speech by the Finance Minister Nirmala Sitharaman last year started off with emphasis on the economic empowerment of women. The budget also accorded renewed emphasis on enhancing the incomes of small and marginal farmers. The government aims to develop the lakhs of self-help groups (SHGs) in the country into viable income generating producer organisations and economically sustainable women enterprises. It also visualizes the evolution of Lakhpati Mahila s from these networks. Additionally, the government plans to aggregate farmers into farmer producer organizations (FPOs) with strong fiscal and budgetary support to contribute towards doubling farmers income.
The Congress leader said when prices for wheat, paddy and other grains can be received in the world markets, then exports are banned. "Where import has to be done, all the rules and regulations are immediately put on hold. This is a double blow of the Modi government on the farmers of the country," he said.