Farmers get Rs.30,000 crore support
Finance Minister Nirmala Sitharaman has announced on 15 May 2020 measures to strengthen Agriculture Infrastructure Logistics, Capacity Building, Governance and Administrative Reforms for Agriculture, Fisheries and Food Processing Sectors.
These are:
• Rs.1 lakh croreAgri Infrastructure Fund for farm-gate infrastructure for farmers
• Rs.10,000 crore scheme for formalisation of Micro Food Enterprises (MFE)
• Rs.20,000 crore for Fishermen through Pradhan Mantri Matsya Sampada Yojana (PMMSY)
• National Animal Disease Control Programme
• Setting up of Animal Husbandry Infrastructure Development Fund – Rs.15,000 crore
• Promotion of Herbal Cultivation: outlay of Rs.4,000 crore
• Beekeeping initiatives –Rs.500 crore
• From ‘TOP’ to TOTAL – Rs.500 crore
• Measures for Governance and Administrative Reforms for Agriculture Sector
Giving details, Sitharaman said that out of these 11 measures, 8 measures are for improving agricultural infrastructure and 3 measures are for administrative and governance reforms, including removing restrictions on sale and stock limits of farm produce.
The Minister also announced significant Agriculture-related measures to support farmers, Rs.30,000 crore as Additional Emergency Working Capital facility through NABARD to enable RRBs and Cooperative Banks extending farm loans for Rabi post-harvest and Kharif expenses.
And second was a mission-mode drive to enable Rs.2 lakh crore credit boost to the farm sector by covering 2.5 crore PM-KISAN beneficiaries under Kisan Credit Card Scheme by December 2020.
Outlining what the Government has done over the last 2 months, the Finance Minister said that during lockdown period Minimum Support Price (MSP) purchases of amount more than Rs.74,300 crore, PM KISAN fund Transfer of Rs.18,700 crore and PM Fasal Bima Yojana claim payment of Rs.6,400 crore have been made.
Further, a new scheme to provide interest subvention @2% per annum to dairy cooperatives for 2020-21 has been launched, which also provides additional 2% p.a interest subvention on prompt payment/interest servicing. This scheme will unlock Rs.5,000 crore additional liquidity, benefitting 2 crore farmers. fiinews.com
