Budget 2024 | Modi govt's allocations to Agriculture Ministry over last five years

Here, we delve into the budgetary provisions for the agriculture sector from 2020 to present, highlighting the key initiatives and strategies.

The Ministry of Agriculture and Farmer's Welfare in India has seen a dynamic change in fund allocation over the years. In light of the Interim Budget presented by Nirmala Sitharaman today, here's we delve into the budgetary provisions for the agriculture sector from 2020 to present, highlighting key initiatives and strategies.

2024-25

In the latest budget, Rs 1.27 lakh crore has been allocated to the Ministry of Agriculture and Farmer's Welfare.

Noteworthy measures include the promotion of private and public investment in post-harvest activities, the expansion of Nano-DAP application in all agro-climatic zones, and the formulation of the Atmanirbhar Oilseeds Abhiyaan.

The government also plans to implement a comprehensive program for dairy development and enhance aquaculture productivity through the Pradhan Mantri Matsaya Sampada Yojana.

2023-24

The previous fiscal year put an emphasis on agri-startups through the Agriculture Accelerator Fund and envisioned India as a global hub for millet research. An allocation of Rs 1.25 lakh crore was made, with a targeted agricultural credit of Rs 20 lakh crore for animal husbandry, dairy, and fisheries. The introduction of the PM Matsya Sampada Yojana sub-scheme, with targeted investment of Rs 6,000 crore aimed to boost fisheries-related activities, and the launch of PM-PRANAM focused on promoting balanced fertilizer use.

2022-23

In the fiscal year 2022-23, Rs 1.32 lakh crore was allocated to the Ministry of Agriculture and Farmer's Welfare. The government envisioned direct payment of Rs 2.37 lakh crore to farmers for wheat and paddy procurement.

The government also prioritized chemical-free natural farming, focusing initially on lands along the Ganga river. While NABARD was meant to play a crucial role in facilitating funds for startups, 'Kisan Drones' were introduced for crop assessment and digitization of land records.

2021-22

Allocation for the Ministry of Agriculture and Farmer's Welfare amounted to Rs 1.22 lakh crore in 2021-22. Operation Green Scheme, which was applicable to tomatoes, onions, and potatoes, was expanded to include 22 perishable products.

The year also saw a separate Agriculture Infrastructure Fund, which was to be made available to Agricultural Produce Market Committees (APMCs) to improve infrastructure facilities.

2020-21

In the fiscal year 2020-21, Rs 1.42 lakh crore was allocated to the Ministry of Agriculture and Farmer's Welfare. The government prioritised renewable energy in agriculture with the expansion of the Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan scheme, aiming to help 20 lakh farmers set up stand-alone solar pumps. Viability gap funding for warehouses was also proposed, along with the inclusion of all eligible Pradhan Mantri Kisan Samman Nidhi beneficiaries under the Kisan Credit Card scheme. The government promised to propose comprehensive measures for 100 water-stressed districts as well.