Highlights of the Union Budget FY 2023-24 for the Agriculture Sector

Union Budget 2023 - 24  Highlights for Agriculture Sectors

• Agriculture Accelerator Fund to be set up to encourage agri-startups by young entrepreneurs in rural areas.

• To make India a global hub for 'Shree Anna', the Indian Institute of Millet Research, Hyderabad will be supported as the Centre of Excellence for sharing best practices, research, and technologies at the international level.

• ₹20 lakh crore agricultural credit targeted at animal husbandry, dairy, and fisheries.

• A new sub-scheme of PM Matsya Sampada Yojana with a targeted investment of ₹6,000 crores to be launched to further enable activities of fishermen, fish vendors, and micro & small enterprises, improve value chain efficiencies and expand the market.

• Digital public infrastructure for agriculture to be built as an open source, open standard, and inter-operable public good to enable inclusive farmer-centric solutions and support for the growth of the agri-tech industry and start-ups.

• The computerization of 63,000 Primary Agricultural Credit Societies (PACS) with an investment of ₹2,516 crore was initiated.

• Massive, decentralized storage capacity to be set up to help farmers store their produce and realize remunerative prices through sale at appropriate times.

• “PM Programme for Restoration, Awareness, Nourishment, and Amelioration of Mother Earth” (PM-PRANAM) to be launched to incentivize States and Union Territories to promote alternative fertilizers and balanced use of chemical fertilizers.

• Centre to facilitate 1 crore farmers to adopt natural farming over the next three years.

• 10,000 Bio-Input Resource Centres will be set up, creating a national-level distributed micro-fertilizer and pesticide manufacturing network.

• Atmanirbhar Clean Plant Program with an outlay of ₹2200 crore to be launched to boost the availability of disease-free, quality planting material for high-value horticultural crops.

• 500 new ‘waste to wealth’ plants under the GOBARdhan (Galvanizing Organic Bio-Agro Resources Dhan) scheme to be established for promoting a circular economy at a total investment of Rs 10,000 crore. 5% compressed biogas mandate to be introduced for all organizations marketing natural and biogas.

• Millets are to be known as Shri-Anna as declared in Union Budget 2023.

• Centre for excellence for millets

• Natural Farming Promotion

• Promoting alternative fertilizers

• Hike Agricultural Credit ↑

• Agriculture Accelerator Fund

• Digital public infrastructure

• Computerization of Primary Agricultural Credit Societies

• New sub-scheme of PM Matsya Sampada Yojana

• Atamnirbhar Clean Plant Program – Horticultural crops 

• GOBARdhan Scheme