Budget 2024: 11.8 crore farmers provided financial assistance under PM Kisan Yojana; MSP for ’Annadata’ raised, says FM

Budget 2024: Union Finance Minister Nirmala Sitharaman, while presenting the Interim Budget 2024-25,  said that efforts of value addition in the agri sector and increasing farmers' income will be stepped up, adding, 11.8 crore farmers – including marginal and small farmers – have been provided financial assistance under PM Kisan Yojana.

She added that the minimum support prices for 'Annadata' (farmers) increased periodically, appropriately. She stated that the poor, women, youth, and farmers' needs are the government's priority areas.

The FM said that crop insurance is given to 4 crore farmers under PM Fasal Bima Yojana and these are assisting farmers in producing food for the country and for the world.

The allocation for Ministry of Agriculture and Farmer's Welfare stands at ₹1.27 lakh crore.

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On agriculture and food processing:

While reading out the Interim Budget 2024-25, FM Sitharaman said that efforts of boosting farmers' income will be stepped up. 

She said that Pradhan Mantri Kisan Sampada Yojana has benefited 38 lakh farmers and generated 10 lakh jobs. Adding more, she said that PM Formalisation of Micro Food Processing Enterprises Yojana has assisted 2.4 lakh SHGs and 60,000 individuals with credit linkages. She even mentioned that other schemes are helping reduce post-harvest losses and improving productivity and incomes. 

“Government will further promote private and public investment in post-harvest activities including aggregation, modern storage, supply chains, primary and secondary processing, marketing and branding," FM Sitharaman said. 

On Nano DAP:

The FM said that after the successful adoption of nano urea, Nano DAP application on various crops will be expanded in all agro-climatic zones. 

On Aatma Nirbhar Oilseeds Abhiyan:

Sitharaman said that building on the initiative announced in 2022, a strategy will be formulated for achieving self-reliance in oilseeds, such as mustard, groundnut, soybean, sesame and, sunflower. She added, “This will cover research in high-yielding varieties, adoption of modern farming techniques, market linkages, procurement, value addition, and crop insurance.”

On dairy development:

The Finance Minister said that a comprehensive programme for supporting dairy farmers will be formulated by the government.

"A comprehensive programme for supporting dairy farmers will be formulated. Efforts are already on controlling foot and mouth disease," said the Union Finance Minister.

On Matsya Sampada:

It was our government that set up a separate department for fisheries, realising this would help in generating jobs as well, she said.

The Finance Minister added that PM Matsya Sampada Scheme will be stepped up for aqua culture productivity, as the government aims to double seafood exports to ₹1 lakh crore.

Five integrated aqua parks will be set up, said Sitharaman.