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The agricultural budget has increased by more than 300 pc over the past nine years. increased: farmers’ association

According to the FAIFA findings, over 11 crore farmers have benefited from the PM Kisan scheme, which provided direct financial support. Moreover, there has been a massive 7350 percent increase in the purchase of pulses at the Minimum Support Price (MSP).

The agricultural budget has increased by more than 300 percent in the past nine years: Farmers Association (image source: Times Now Digital)

Agriculture Budget allocation: The Federation of All India Farmer Associations (FAIFA) recently conducted a comprehensive study on the government’s initiatives to improve the living conditions of farmers across the country. The research shows that there has been a significant increase in the number budget allocations for agriculture, benefits from various schemes and progress in procurement and infrastructure development.

Increase the budget allocation for agriculture by 300 pc

The FAIFA survey shows that budget allocation for agriculture has increased by more than 300 percent over the past nine years. This substantial investment underlines the government’s commitment to the growth and development of the agricultural sector.

PM Kisan scheme and procurement of pulses

According to the FAIFA findings, over 11 crore farmers have benefited from the PM Kisan scheme, which provided direct financial support. Moreover, there has been a massive increase of 7350 percent in the procurement of pulses at the Minimum Support Price (MSP), indicating improved support for pulse farmers.

Policy initiatives for farmer welfare

FAIFA Chairman Javare Gowda lauded the government’s key policy initiatives such as Prime Minister Kisan Maandhan Yojana, Prime Minister Kisan Samman Nidhi and Prime Minister Fasal Bima Yojana for providing financial and income support to farmers. He highlighted that Prime Minister KISAN Samman Yojana has disbursed over Rs 2.80 lakh crore to farmers, benefiting millions across the country. Gowda highlighted the extension of crop insurance coverage to four crore farmers under PMFBY, providing them crucial financial protection against crop losses. He also emphasized the importance of farmer organizations, including Farmer Producer Organizations (FPOs) or cooperatives, joining hands to tackle challenges collectively.

Role of the Agricultural Infrastructure Fund (AIF)

FAIFA Vice President Ather Matheen commended the government’s initiatives, such as the Agriculture Infrastructure Fund (AIF), for boosting farmers’ incomes and promoting sustainability. Launched in 2020, AIF aims to develop post-harvest management infrastructure and assets of community farms, including modernizing storage facilities, cold chains and supply chain infrastructure.

The presentation of the FAIFA report was attended by eminent personalities including former Managing Director of Nabard, Prof MV Ashok, and former Director of ICAR, Dr JP Tandon, according to the TOI report.