Know what Agriculture Sector gets from Budget 2019
The current government ensures farmers to avail all the benefits of e-nam and access to safe and adequate water. Continuing further, the survey conducted in the year 2018- 19 showed farmer sector growth witnessed tapering in total Gross Value Added (GVA) has been consistently falling and now positioned at 16.1 per cent in the last fiscal.
Today, Finance Minister Nirmala Sitharaman presented her maiden Budget in which she made several big announcements for rural as well as urban India, the country's space mission and the roadmap for making India a USD 5 trillion economy in five years. It was already expected that this time the budget will have a special focus on the agriculture sector. Presenting the Budget, Sitharaman said, "Considering the fact that majority of people still live in villages and depend on agriculture and traditional industries, the ‘Scheme of Fund for Upgradation and Regeneration of Traditional Industries’ (SFURTI) aims to set up more Common Facility Centres (CFCs) to facilitate cluster-based development to make the traditional industries more productive, profitable and capable for generating sustained employment opportunities. The focused sectors are Bamboo, Honey and Khadi clusters."
She also said that "The SFURTI envisions setting up 100 new clusters during 2019-20 which should enable 50,000 artisans to join the economic value chain. Further, to improve the technology of such industries, the Scheme for Promotion of Innovation, Rural Industry and Entrepreneurship’ (ASPIRE) has been consolidated for setting up of Livelihood Business Incubators (LBIs) and Technology Business Incubators (TBIs). The Scheme contemplates to set up 80 Livelihood Business Incubators (LBIs) and 20 Technology Business Incubators (TBIs) in 2019-20 to develop 75,000 skilled entrepreneurs in agro-rural industry sectors."
On the same, Malini Saba, Founder, Saba Industries & Saba Family Foundations told Zee Business Online that, "The Union Budget 2019 has so much for agriculture and farmers. Started with the appreciation of the farmers' put forth in the production of pulses, the Government hopes the sector will exhibit similar performance in the coming year in oilseeds as well. The current government ensures farmers to avail all the benefits of e-nam and access to safe and adequate water. Continuing further, the survey conducted in the year 2018- 19 showed farmer sector growth witnessed tapering in total Gross Value Added (GVA) has been consistently falling and now positioned at 16.1 per cent in the last fiscal. It implies the investment rate was much less than half of that of services in the agriculture sector."
"This year centre is willing to invest significantly in agriculture infrastructure and aims to form 10,000 new Farmer Producers Company (FPOs which will allow farmers to benefit from eNAM, can do business and easily survive making it zero budget farming," Saba added.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.