Budget 2017: 10 key takeaways from FM Arun Jaitley on the farm sector
Here are the top announcements.union budget Updated: Feb 01, 2017 13:19 IST
The government unveiled a raft of measures to boost agriculture in the Union budget on Wednesday, announcing that the farm sector is expected to grow by 4.1% in the next fiscal year, aided by a good monsoon. Here are the top announcements:
• Farm credit target fixed at Rs 10 lakh crore
• Crop Insurance to spread over 40% area cropped
• Dairy processing infrastructure fund to be set up under Nabard, with fund of 8,000 crore
• A model law on contract farming will be circulated among states for consultation.
• Assistance of upto Rs 75 lakh for cleaning and packaging of farmer produce
• Nabard to be supported to create 63,000 functional primary agricultural credit societies at an estimated cost of Rs 1,900 crore
• Areas under summer and winter crops to grow
• Issuance of soil health cards have gathered momentum, will setup a mini lab in krishi vigyan kendras
• Computerisation of Nabard to help small, marginal farmers to ensure seamless flow of credit
• Focus on small and marginal farmers, especially in underserved areas such as the Northeast and Kashmir.