India - 2,000 crore increase in allocation for farm sector

22.03.2016 293 views
In an attempt to de-stress the distressed rural sector and enable it to meet the economic challenges, the Haryana budget has enhanced allocation for the agriculture and allied sectors by 13.71%. Finance minister Captain Abhimanyu has allotted Rs 13,494 crore for 2016-17 in the budget in comparison to Rs 11,444.41 crore for 2015-16. The announcement has come at a time when the farmers in Haryana are facing severe crisis following crop failures because of heavy rains coupled with hailstorms. The state had also witnessed suicides by several farmers after the crop failure in 2015. Presenting his budget proposals in the state assembly on Monday, Capt Abhimanyu said that the outlay for agriculture had been hiked to realize the vision of Prime Minister Narendra Modi, who aimed to double the farmers' income within five years. Haryana also increased its share by 54% for various central government schemes like Rashtriya Krishi Vikas Yojana, National Food Security Mission, National Mission on Agriculture Expansion and Technology, National Oil Seed and Oil Palm Mission. The allocation under the Centre's schemes of National Mission for Sustainable Agriculture and the Soil Health Card Scheme has also been increased from Rs 4.56 crore to Rs 15.02 crore. For different schemes to promote the horticulture sector, the allocation has been upped to Rs 378 crore from Rs 239.45 crore of 2015-16.
Welcoming the launch of the new farm insurance scheme 'Pradhanmantri Fasal Bima Yojana', he said it would go a long way in providing financial support to the farmers in the event of failure of notified crops because of natural calamities, pests and diseases. A sum of Rs 300 crore has been proposed for the scheme.
Capt Abhimanyu has proposed Rs 50 crore in the first instance for setting up a horticultural university in Karnal. The grant-in-aid for the Haryana Agricultural University has also been increased.
"The Haryana government not only enhanced the compensation rate per acre but also widened the scope for coverage of the crops damaged due to floods, standing water, fire, electric sparking, heavy rains, hailstorm, dust storm and whilefly attack," said the minister.
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