Page 178 - CW E-Magazine (10-9-2024)

Special Report

Union Budget 2024-25: Focus on agriculture

his year’s Union Budget 2024- The Budget aims to release 109 guarantee scheme for MSMEs in the
25, presented by Hon’ble Union high yielding and climate-resilient manufacturing sector. The budget also
TFinance Minister on 23rd July, varieties of 32 fi eld and horticulture details the allocations for some ambi-
2024, was a follow up of the Interim crops for cultivation by farmers. Further, tious schemes, such as Rs. 500-crore
Budget of 1st February, 2024. A road- one-crore farmers will be brought under for ‘Namo Drone Didi’. The scheme
map in line with the strategy, for Viksit natural farming in two years, supported aims to provide drones to 15,000 selec-
Bharat, highlighted nine priorities inter by certifi cation and branding, with ted Women Self-Help Groups (SHGs)
alia which include productivity and re- 10,000 need-based bio-input resource during the period 2023-24 to 2025-26
silience in agriculture; employment & centres. Missions related to pulses and for providing rental services to farmers
skilling; inclusive human resource deve- oilseeds will be strengthened to achieve for agriculture purpose.
lopment and social justice; manufac- self-suffi ciency, and large-scale vege-
turing & services; urban development; table production clusters near major Promotion of natural farming
energy security; infrastructure; innova- consumption centres will be developed. Promotion of natural farming to
tion, research & development; and next enhance agricultural sustainability and
generation reforms. The budget also prioritizes the productivity has also been emphasised.
implementation of digital public infra- There is no second thought that natu-
Agriculture – a vital sector of the structure for agriculture, with a digital ral fertilisers, such as green manure/
economy crop survey in 400 districts and regis- organic manure have certain specifi c
Agriculture is a vital sector of tration of 6-crore farmers. Financial advantages, such as enhancing organic
Indian economy and contributes to support will be provided for shrimp carbon content and improving physical,
about 18.2% to the country’s GDP at production and export, and a National chemical and biological properties of
current prices. Quite a large section of Cooperation Policy will be introduced the soil. However, such manures con-
the population directly and indirectly to boost the cooperative sector. tain very low plant nutrients – about
depends on agriculture for their liveli- 2-3% – which cannot meet the require-
hood. Indian agriculture has been grow- Provisions for agriculture and allied ment of nutrients of the HYV crops.
ing at an average growth rate of 4.18% sectors Therefore, natural fertilisers alone
over the last fi ve years. There have been A total provision of Rs. 1.52 lakh- should be practised in areas which are
crop-wise and year-wise variations in crore has been made for agriculture and feasible for such farming.
production of crops. allied sectors.
Organic manure can play a supple-
Sustainable growth in agriculture In this year’s allocations, Ministry mental role along with the use of ferti-
is of paramount importance to improve of Agriculture & Farmers Welfare will lisers. Fertiliser industry has always
farm incomes. be provided Rs. 10,000-crore towards been promoting integrated nutrient
price stabilisation fund to maintain supply system comprising of fertilisers,
Several measures initiated buffer stock of pulses, oilseeds, onions biofertilisers, organic manures, etc. for
Recognising the importance of the & potatoes; and making suffi cient avail- sustenance of soil health and improving
sector for overall development of the ability of such commodities in the mar- farm income.
Indian economy, Budget 2024-25 ket so as to cool down the prices as and
covers several measures to boost the when required. In addition to this, the Allocations for subsidies
agricultural sector comprising of, Union Finance Minister has increased Fertiliser is a key component of
amongst others,: the allocation for the Pradhan Mantri agriculture as there exists a direct cor-
 Introduction of new high yielding Annadata Aay Sanrakshan Abhiyan relation between use of fertilisers and
varieties of seeds; (PM-AASHA) for MSP remunerative agricultural production. Therefore, en-
 Provision of natural farming; prices to farmers by three times to deavour of the Government has been to
 Promoting self-suffi ciency in oil- Rs. 6,437-crore this year. provide fertilisers to farmers at afford-
seeds and pulses; able prices by way of subsidy. Ferti-
 Impetus for digital infrastructure for There is a provision of Rs. 2.66 liser subsidy is being reimbursed to the
farmers; and lakh-crore for rural development, in- fertiliser companies to cover the diffe-
 Price stabilisation fund. cluding rural infrastructure and credit rence in cost of manufacture/import

178 Chemical Weekly September 10, 2024

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