farm support scheme Current Affairs - 2020

Interim Budget 2019: What’s there for Agriculture

The Union Minister of Finance Piyush Goyal presented the interim budget. The various provisions in the budget related to the Agricultural sector are listed below:

  • The budget announced a farm support scheme for farmers owning up to 2 hectares of lands.
  • These farmers will get Rs 6,000 per year in three equal instalments effective from December 1, 2018.
  • The Finance Minister has set aside Rs 75,000 crore for the scheme.
  • The farm support scheme is expected to benefit 12 crore small and marginal farmers.
  • The allocation for the Rashtriya Gokul Mission has been increased to Rs 750 crore for increasing the production and productivity of cows.
  • 2% interest subvention for farmers pursuing animal husbandry and fisheries through Kisaan credit cards.
  • A separate Department for fisheries would be created.
  • Farmers adversely affected by natural calamities would get 2% interest subvention and additional 3% interest subvention upon timely repayment.
  • Budget announced setting up of Rashtriya Kamdhenu Aayog to upscale sustainable genetic upgradation of cow resources and to enhance production and productivity of cows.
  • The Rashtriya Kamdhenu Aayog would also be responsible for effective implementation of laws and welfare schemes for cows.

The budget has made some big announcements but the critics argue that the long-term plans are mere slogans with no clear road map.