Annual agri-Budget rises 5-fold to Rs 1.25 lakh cr since 2014: Modi
New Delhi: India’s agriculture sector’s annual Budget has increased five-fold to Rs 1.25 lakh crore since 2014, Prime Minister Narendra Modi said on Friday, as he stressed that his government is focusing on progress of the farm sector and working on mission mode to reduce import dependence of food items like edible oils.
The Prime Minister was addressing a post-Budget webinar on ‘Agriculture and Cooperatives’. It is the second of a series of 12 post-Budget webinars organised by the government to seek ideas and suggestions for the effective implementation of the initiatives announced in the Union Budget 2023.
Modi also outlined the various steps announced in the Budget to attract young talent in the sector, and expansion of the cooperative sector across the country.
He stressed that various decisions are being continuously taken in the Budget to promote the agricultural sector so that the nation becomes ‘atmanirbhar’ and the funds used for imports can reach farmers.
Highlighting the importance given to the farm sector in the Budget as well as Budgets of the past 8-9 years, he said the agricultural Budget which was less than Rs 25,000 crore in 2014, has been increased to more than Rs 1.25 lakh crore now.
“Before we came to power in 2014, the Budget for the agriculture sector was less than Rs 25,000 crore. Today the country’s agriculture Budget is more than Rs 1.25 lakh crore,” the Prime Minister said as he highlighted the various aspects of the Union Budget 2023-24.
“Every Budget in recent years has been called a Budget for Gaon, Gareeb and Kisan,” Modi said.
India’s agricultural sector, he said, remained distressed for a long time since independence and pointed out the country’s dependence on the outside world for food security. The Prime Minister cited certain examples of expenditure made towards imports of agri products. He said Rs 17,000 crore was spent in 2021-22 for the import of pulses, Rs 25,000 crore for the import of Value Added Food Products, and Rs 1.5 lakh crore was spent on the import of edible oils in 2021-22. The sum of agricultural imports was about Rs 2 lakh crore, he said.
Modi also talked about the various decisions being continuously taken in the Budget to promote the agricultural sector and highlighted measures like increase in MSP, promotion of pulse production, increase in the number of food processing parks, and work in mission mode to become completely self-sufficient in terms of edible oil.
He also lauded farmers for transforming India’s agriculture scenario by not only making the nation ‘atmanirbhar’ but also capable of exporting foodgrains.
“Today India is exporting many types of agricultural products,” Modi said and added the government is taking efforts to make domestic and international markets accessible to farmers.
He also stated that India’s goal should not be limited to rice or wheat when it comes to self-sufficiency or export.
The Prime Minister underlined that the goal of complete development cannot be achieved until the challenges related to the agriculture sector are eliminated.
