Budget 2018- Agriculture and Rural Economic Development

February 2, 2018

A slew of measures announced in the Budget 2018 will transform the farm sector in a big way, increase farmers’ income and help achieve higher growth, Agriculture Secretary S K Pattanayak has said. “It is a pro-farmer budget, very much focused on developing the entire farm sector.

As per the 1st advanced estimates by the Central Statistics Office (CSO), agriculture growth is pegged lower at 2.1 per cent for the 2017-18 fiscal, compared with 4.9 per cent last years.

Union Budget 2018, the farm credit target has been raised to Rs 11 lakh crore for 2018-19 from Rs 10 lakh crore this year, while funds for Pradhan Mantri Fasal Bhima Yojana (PMFBY) has been increased to Rs 13,000 crore from Rs 10,698 crore. That apart, the government announced two separate funds with a corpus of Rs 10,000 crore to create infrastructure in fishery, aquaculture and animal husbandry sectors, Rs 2,000 crore as agri-market infrastructure fund and Rs 1,290 crore for the national bamboo mission. Among others, the facility of Kisan Credit Cards has been extended to fisheries and animal husbandry farmers to help them meet their working capital needs

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