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Stimulus 3: Nirmala announces Rs. 1 lakh cr for agriculture, fisheries sectors

  • In the third tranche of Atmanirbhar Bharat Abhiyan‘s stimulus, FM unveils an Rs. one lakh cr relief to boost Agri infrastructure
  • Rs. 5,000 cr relief to milk producers
  • Rs. 20,000 crore for fishermen program
Finance Minister Nirmala Sitharaman

New Delhi: In the third tranche of the Rs.20 lakh crore stimulus package to perk up the Indian economy, Finance Minister Nirmala Sitharaman on Friday announced to create an Rs. One lakh crore Agriculture Infrastructure Fund to boost farm-gate infrastructure for the farmers.

Unveiling the third installment of the Covid-19 economic package as part of the Atmanirbhar Bharat Abhiyan (Self-Reliant India Campaign), she said this part of the relief focuses on agriculture and its allied activities.

Also, since the demand for milk reduced by 20-25% amid the ongoing nationwide lockdown, the government has decided a new scheme to provide interest subvention at 2% per annum to dairy cooperatives for 2020-21. The scheme will unlock Rs 5,000 cr additional liquidity benefit to two crore farmers.

Sitharaman announced 11 measures of which eight are related to strengthening infrastructure, capacities, and building better logistics while the remaining three pertained to government and administrative reforms.

The highlights of her press conference are as follows:

(1) Funds transfers worth Rs 18,700 crores have been done under the PM Kisan Yojana in the past two months and PM Fasal Bima Yojana claims worth Rs 6,400 crores have also been released.

(2)A scheme will be launched to help two lakh unorganized micro food enterprises to promote the ‘Vocal for Local’ vision of the Prime Minister.

(3)To help the Fisheries sector, operations of marine capture fisheries and aquaculture has been relaxed to cover inland fisheries.

(4) The government will launch a Rs 20,000 crores Pradhan Mantri Matsya Sampada Yojana (PMMSY) for integrated, sustainable, and inclusive development of marine and inland fisheries. The scheme will lead to additional fish production of 70 lakh tonnes over the next 5 years and will give employment to over 55 lakh people.

(5) A national animal disease control program for foot and mouth disease (FMD) and Brucellosis will be launched with a total outlay of Rs 13,343 crores. The program will ensure 100 percent vaccination of cattle, buffalo, sheep, goat, and pig population (a total of 53 crore animals) for FMD and brucellosis.

(6) an Animal Husbandry Infrastructure Development Fund of Rs 15,000 crore will be set up to support private investment in dairy processing and cattle feed infrastructure.

(7)A total of Rs 4,000 crore will be allocated for the promotion of herbal cultivation. As much as 10,00,000 hectares will be covered in the next 2 years.

(8) The government will implement a Rs 500 crore scheme of infrastructure development related to integrated bee-keeping development centres, collection, marketing, and storage centres, post-harvest and value addition facilities. This scheme will lead to an increase in income of 2 lakh bee-keepers, and

(9) The government will also amend the Essential Commodities Act,1955, to enable better price realisation for farmers. Agriculture products including cereals, edible oils, oilseeds, pulses, onions, and potatoes to be de-regulated by amending the ECA Act.

(Aditya)

Written by Revoi Network

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