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How Union Budget 2021 will impact Farmers? Read in Detail

The government will continue to focus mainly on farmers and rural poor. The government is committed to double farmers' income by 2022.

Yogita S.

Yogita S.By Yogita S.

Published on 1 Feb 2021 9:03 AM GMT

How Union Budget 2021 will impact Farmers? Read in Detail
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New Delhi: Given the intense opposition to agrarian reform laws, it was expected that the central government would try to please the farmers in its budget. Union Finance Minister Nirmala Sitharaman's biggest announcement for the agriculture sector also proved to be outdated.

Kisan Credit Cards for Farmers:

The government has already announced that Kisan Credit Card will be provided to the beneficiaries of Prime Minister Kisan Samman Nidhi. The Finance Minister has reiterated the same thing in the budget. Two lakh 83 thousand crore rupees proposed in the budget on agriculture, rural development and irrigation.

In addition to KCC, solar pump scheme for farmers, another major announcement proposed to set up a warehouse to promote horticulture. Looking at the proposal to spend one lakh crore rupees on highway development in Tamil Nadu, the proposal is very modest for the agricultural sector employing 60 percent of the country's population.

ALSO READ: Union Budget 2021: What Got Costlier, What Got Cheaper

6.11 crore farmers insurance:

Union Finance Minister Nirmala Sitharaman said in a budget speech on Monday that the government has given special focus to three areas for building an aspirational India. It includes education, skills, besides agriculture, irrigation and rural development, health, water and sanitation. 2.83 lakh crores will spend on agriculture, rural development, irrigation and allied works.

The government will continue to focus mainly on farmers and rural poor. The government committed to double farmers' income by 2022. They informed that 6.11 crore farmers insured under the Prime Minister Crop Insurance Scheme.

ALSO READ: Budget 2021: Modi Govt’s gift to Health Sector, Allocated 2.38 lakh crore

Loan of 15 lakh crore for Farmers:

The biggest plan that the Finance Minister has given in the budget for the upliftment of the agriculture sector. It has a target of a loan of Rs 15 lakh crore for 2020-21. It can understood that there is a readiness to give loans of up to one lakh crore rupees to about one crore farmers, but how much development will come by this loan system. How will the loan system work.

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Yogita S.

Yogita S.

Media Graduate, News Editor and PR Enthusiast.

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