India's fiscal budget for 2024-2025, as presented by Finance Minister Nirmala Sitharaman on 23rd July, focuses on four significant sections of people: Gareeb, Mahilay, Yuva and Annadata (Farmers). With respect to Annadata, she has announced a ₹1.52 lakh crore allocation for agriculture and allied sectors, thereby prioritising agricultural productivity and resilience. Over the next two years, one crore farmers will be trained in natural farming practices, and additional support for certification and branding will be provided. The government will emphasise increasing the production of pulses and oilseeds, which will reduce reliance on imports and increase self-efficiency. There will also be initiatives to develop large-scale vegetable production clusters near significant consumption centres across India. The agricultural research system is set to be reviewed to speed up the development of crop varieties that can withstand climate change. This will include launching 109 new varieties that will be both high-yielding and resilient to varied climatic conditions, spreading across 32 types of field and horticultural crops. This initiative aims to offer farmers a broader range of cultivation options. The government also plans to incorporate digital technology into farming by setting up a unique digital system just for agriculture. Part of this plan is to use digital tools to check how the Kharif crops are doing in 400 different areas. This way, farming can be improved, and decisions can be made more efficiently using the latest data. The plan going forward is to help groups of farmers, cooperatives, and young companies focused on vegetables improve how they gather, store, and sell their stuff. On top of this, there's a push for shrimp farming to grow. This involves setting up special Nucleus Breeding centres and exporting shrimps abroad with the help and support of NABARD. Furthermore, the budget for the Department of Agriculture and Farmers Welfare has been increased from Rs. 1,16,788 to Rs. 1,22,528. This allocation includes Rs. 9,941 crores for the Agricultural Research and Education department and Rs. 500 crores for the Nano Drone Didi Scheme. At the same time, the Ministry of Fisheries, Animal Husbandry and Dairying have also been allotted Rs. 7,137 crores. However, The Fertilizers Department and The Department of Food and Public Distribution saw a decrease in the money allotment by allotting Rs.1,64,150 crores and Rs. 2,13,019 crores, respectively. There has been no allocation of money to the Integrated Scheme on Agriculture Cooperation either. The lack of allocation of funds has raised serious concerns. Farmer organisations have expressed disappointment over not providing a legal guarantee of MSP or farm loan waiver, the significant decrease in fertiliser subsidies (approximately 34.7%), and a similar reduction in food subsidies. These cuts, totalling nearly ₹1 lakh crore compared to 2022-23 actuals, could potentially impact the livelihoods of farmers and agricultural productivity of India. Overall, the government has strongly supported agriculture in the fiscal budget 2024-2025. This signifies a commitment to modernisation and boosting domestic food security. Still, to succeed, these tasks must be carried out well, strides have to be made in research and the government must figure out how to handle any subsidy cutbacks. So, how well this whole strategy works out rests on getting these essential parts right.
06 Aug 2024
Vaishnavi Pawar
