Budget 2020-21 For Strengthening Agriculture, Farmers And Rural India

Can be asked in IBPS AFO, NABARD, JRF, BHU, SRF

Budget For Strengthening Agriculture, Farmers And Rural India

In budget 2020-21 a clear blueprint is presented for ensuring the overall growth of the agriculture sector, improving the economic condition of the farmers and all-round development of rural India.Ease of living has been underlined in the budget in the form of three major subjects (1) agriculture, irrigation and rural development (2) wellness, water and sanitation and (3) education and skills.By improving the conditions of agriculture and farmers, not only standard of living of 70% of the population can be transformed, but the dream of ‘New India’ can also be realized.
Budget Announcements:

1. Agriculture
  • The Ministry of Agriculture, Rural Development and Panchayati Raj are brought under one umbrella so that concrete policies and strategies can be implemented keeping their inter-linkages at the core. 
  • A 16-point action plan has been introduced for agriculture, irrigation and rural development. A provision of Rs. 2.83 lakh crores has been made in the Budget.
2. Livestock:
  • Livestock has recorded 8% increase during the last five years. Currently, India is the largest milk producing in the world. The Budget has set a target of doubling milk production by the year 2025.
  • Milk processing capacity will be raised to 108 million metric tonnes from the current 53.5 million metric tonnes. The coverage of artificial insemination will be raised from present 30% to 70%. Convergence of MGNREGS will be done for development of pastures.
  • A special action plan will be prepared to eradicate Foot and Mouth Disease (FMD) of cattle and Peste de Petits Ruminants (PPR), also known as Ovine Rinderpest (which affects sheep and goats) completely by the year 2025.In milieu to indigenous dairy sector to insulate it against cheap imports decimating the industry,the budget has done away with the concessional basic customs duty of 15% on imports of upto 10,000 tonnes of Skimmed Milk Powder in any financial year.
  • That concession under the extant Tariff Quota Regime has been withdrawn and all imports would henceforth attract a uniform 60% duty.What the govt. in the budget has done is to hike the import duty on all dairy products to the maximum permissible bound rates under the rules of the WTO in order to help facilitate better procurement prices for farmers in the dairy business.
3. Agriculture Credit 
• During the year 2020-21, institutional lending of Rs. 15 lakh crore to farmers has been targeted. This will ensure availability of more loans to farmers on low interest and easy terms of agricultural operations. 
All the beneficiaries of PM-KISAN Yojana will be linked to Kisan Credit scheme and NABARD’s refinance plan will be made more comprehensive.
• A comprehensive action plan will be prepared for 100 water-stressed districts in the country.