How Budget 2017 will improve a farmer’s life?

Nutan Gupta

02 Feb 2017

Agricultural sector plays a major role in the overall development of the economy. This sector provides employment to most of of the population and sets the pace of growth in the economy as a whole. Here are some announcements made by Arun Jaitley for the well-being of the rural population:

  • The government is committed to double the farmer’s income in 5 years

  • Boost social security and housing security for the poor

  • For imparting new skills to people in rural areas, mason training will be provided to 5 lakh persons by 2022

  • Adequate credit will be available for the farmer. Credit for farmer to boost tractor sales.

  • Model law for contract farming to be adopted

  • MNREGA to improve farmers productivity

  • Allocation under MNREGA increased to Rs. 48,000 crore from Rs. 38,500 crore - highest ever allocation

  • Mini labs by qualified local entrepreneurs to be set up for soil testing in all 648 Krishi Vigyan Kendras in the country

  • 133-km road per day constructed under Pradhan Mantri Gram Sadak Yojana as against 73-km in 2011-14

  • 100 % electrification of villages to be completed by May 2018

  • Coverage of Fasal Bima Yojana to go up from 30% of cropped area to 40% in 2017-18 and 50% in 2018-19.

  • To ensure flow of credit to small farmers, Government to support NABARD for computerisation and integration of all 63,000 functional Primary Agriculture Credit Societies with the Core Banking System of District Central Cooperative Banks. This will be done in 3 years at an estimated cost of Rs. 1,900 crore

  • Dairy Processing and Infrastructure Development Fund to be set up in NABARD with a corpus of Rs. 2,000 crore and will be increased to Rs. 8,000 crore over 3 years

  • Against target of 5 lakh farm ponds under MGNREGA, 10 lakh farm ponds would be completed by March 2017. During 2017-18, another 5 lakh farm ponds will be taken up

For more budget related highlights, click here


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How Budget 2017 will improve a farmer’s life?

by Santosh Jayram | Feb 02, 2017

Agricultural sector plays a major role in the overall development of the economy. This sector provides employment to most of of the population and sets the pace of growth in the economy as a whole. Here are some announcements made by Arun Jaitley for the well-being of the rural population:

  • The government is committed to double the farmer’s income in 5 years

  • Boost social security and housing security for the poor

  • For imparting new skills to people in rural areas, mason training will be provided to 5 lakh persons by 2022

  • Adequate credit will be available for the farmer. Credit for farmer to boost tractor sales.

  • Model law for contract farming to be adopted

  • MNREGA to improve farmers productivity

  • Allocation under MNREGA increased to Rs. 48,000 crore from Rs. 38,500 crore - highest ever allocation

  • Mini labs by qualified local entrepreneurs to be set up for soil testing in all 648 Krishi Vigyan Kendras in the country

  • 133-km road per day constructed under Pradhan Mantri Gram Sadak Yojana as against 73-km in 2011-14

  • 100 % electrification of villages to be completed by May 2018

  • Coverage of Fasal Bima Yojana to go up from 30% of cropped area to 40% in 2017-18 and 50% in 2018-19.

  • To ensure flow of credit to small farmers, Government to support NABARD for computerisation and integration of all 63,000 functional Primary Agriculture Credit Societies with the Core Banking System of District Central Cooperative Banks. This will be done in 3 years at an estimated cost of Rs. 1,900 crore

  • Dairy Processing and Infrastructure Development Fund to be set up in NABARD with a corpus of Rs. 2,000 crore and will be increased to Rs. 8,000 crore over 3 years

  • Against target of 5 lakh farm ponds under MGNREGA, 10 lakh farm ponds would be completed by March 2017. During 2017-18, another 5 lakh farm ponds will be taken up

For more budget related highlights, click here

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