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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
Dhrubo Jyoti
Dhrubo Jyoti
Hindustan Times, New Delhi
Arun Jaitley,Budget news,Union Budget 2017
Finance minister Arun Jaitley announced that the farm sector is expected to grow by 4.1% in the next fiscal year.(HT Photo)

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.

Read | Union Budget 2017: Can Arun Jaitley balance populism and math? Here are top 5 things to expect

First Published: Feb 01, 2017 11:50 IST