Punjab: ₹13,784 crore for agri sector, major chunk to be pumped into free power for tubewells
Out of the total allocation, a major chunk 67% ( ₹9,330 crore) has been reserved for free power to agricultural tubewells. The state has over 14 lakh tubewells which support at least 70% of the agricultural land.
Presenting the budget for the financial year 2024-25, Punjab finance minister Harpal Singh Cheema on Tuesday announced an allocation of ₹13,784 crore for the agriculture and allied sectors, which is nearly on a par with what was allocated in 2023-24.
Out of the total allocation, a major chunk 67% ( ₹9,330 crore) has been reserved for free power to agricultural tubewells. The state has over 14 lakh tubewells which support at least 70% of the agricultural land.
Cheema said that ₹575 crore would go towards various crop diversification schemes. “It is our duty to keep encouraging our hard-working farmers to diversify their produce and thus the AAP government shall keep focusing on such schemes in the future as well. It is our collective responsibility to improve our agriculture, soil health and groundwater levels,” said the finance minister.
He added that in the current financial year, a special ‘Mission Unnat Kisan’ was launched to provide timely extension support to cotton farmers. “Our government has also provided 33% subsidy on cotton seed to around 87,000 farmers,” he said
Stating that diversification will not yield the desired result without value addition, he said that ₹50 crore was allocated in the ongoing financial year to initiate value-addition projects.
For the first time after many years, the state government has allocated a grant-in-aid of ₹40 crore to Punjab Agricultural University for boosting research and building infrastructure in the university.
A sum of ₹194 crore has been set aside for conservation of soil and water in the upcoming year beginning April 1. With the allocation, underground pipelines will be laid over 13,016 hectares for micro-irrigation. Cheema said Punjab needs to take these steps as 114 out of 150 revenue blocks in the state have already been declared dark zones (where groundwater depletion exceeds the rate of recharging).
Horticulture push
In addition to various crop diversification measures announced by the state government, the finance minister announced a new initiative -- Punjab Horticulture Advancement and Sustainable Entrepreneurship (PHASE) to improve product quality and develop horticulture crop clusters in major production zones for which suitable allocation has been made in the budget. Though no specific allocation was announced, the finance minister said the scheme will also cover development of mushroom cultivation, flower seed production, exotic vegetables and fruits orchards.