🌾1.27 lakh crores has been allocated to to Ministry of Agriculture & Farmers' Welfare which is 17% more than the budget of 2022.
🏗️Apart from this, the Ministry of Ports, Shipping and Waterways also got 1.27 thousand crores which is almost 40% more than the budget of 2022.
Under this year’s theme of farmers, youth, women and the poor, the budget contains a few things that benefit the agriculture industry -
1. 🤝The government will promote private and public investment in post-harvest activities including aggregation, modern storage, supply chains, processing, marketing and branding.
2. 🔬Research led the growth and development of indigenous oilseeds like mustard, groundnut and sesame to make India self-sufficient. India imports about 60% of its cooking oil spending over ₹1.5 trillion in a year.
3. 💻eNAM has integrated 1,361 mandis and is providing services to 1.8 crore farmers with a trading volume of ₹3 lakh crores.
4. 🌾The minimum support prices for farmers have been increased.
5. 👼Under PM Kisan Samman Yojana, Direct financial assistance is provided to 11.8 crore farmers, including marginal and small farmers.
6. 💼PM Kisan Sampada Yojana has benefited 38 lakh farmers and generated 10 lakh jobs.
7. 🛡️Crop insurance is given to 4 crore farmers under PM Fasal Bima Yojana.
🚀India aims to achieve a $100 billion Agricultural Exports target by 2030, doubling the current $50 billion. To meet this goal, significant policy-making and capital are needed for agricultural modernization.
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