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Union Budget 2024 LIVE: FM Sitharaman allocates ₹1.52 lakh crore for agriculture. Initiatives include climate-resilient crops, 109 new high-yield varieties, digital public infrastructure, and natural farming for 1 crore farmers. Emphasis on productivity and rural income support
Finance Minister Nirmala Sitharaman announced a substantial allocation of ₹1.52 lakh crore for the agriculture and allied sectors in the Union Budget 2024. A comprehensive review of the agricultural research setup will be undertaken to enhance productivity and develop climate-resilient crop varieties.
Domain experts will oversee this initiative to ensure the effectiveness and relevance of the research. The aim is to release 109 high-yielding and climate-resilient varieties of 32 field and horticulture crops for cultivation by farmers.
In the next 2 years, 1 crore farmers will be initiated into natural farming, supported by certification and branding. Additionally, the government, in collaboration with states, will promote digital public infrastructure for agriculture, facilitating better access to information and resources for farmers.
A higher Minimum Support Prices for all major crops delivering on the promise for at least a 50% margin over cost, ensuring better welfare for farmers.
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