The government increases the budget allocation for the agricultural ministry by 78 pc in fiscal year 20
New Delhi, July 5 () The government has proposed increasing the budget allocation for the Ministry of Agriculture and Farmers' Welfare by more than 78 percent to Rs 1.39 lakh crore for the current prosecutor, of which Rs 75,000 crore will be for the flagship plan. PM-KISAN, according to the Budget document.
The government had allocated Rs 77,752 crore in the revised estimate for 2018-19.
Pradhan Mantri Kisan Samman Nidhi (PM-KISAN), launched just before the general election, aims to deliver Rs 6,000 a year in three installments equal to 12.6 million small and marginal peasants.
In addition to PM-KISAN, the government has proposed to increase the allocation for Pradhan Mantri Fasal Bima Yojana (PMFBY) to Rs 14,000 crore for the current fiscal against the revised estimate of Rs 12,975.70 crore for 2018-19.
Around 5.61 million crore are benefiting from the PMFBY.
In the 2019-20 Budget, the government estimates an expenditure of 18,000 million rupees to subsidize interest on short-term loans, while the revised budget for fiscal year 2018-19 was allocated in the revised budget for the fiscal year 2018-19.
To guarantee the minimum support price (MSP) in times of sharp fall in rates, the government has proposed to increase the allocation in Rs 1,000 crore to Rs 3,000 crore to intervene in the market at such times under the Market Intervention Program and the Price Support Program (MIS-PSS).
Similarly, the allocation of Pradhan Mantri Annadata Aay Sanrakshan Yojana (PM-AASHA) is projected to increase from Rs 100 crore to Rs 1,500 crore.
However, to promote agricultural mechanization, there has been no proposed increase in the budget allocation. It is estimated that the government will spend Rs 600 million rupees this fiscal year.
For the Pradhan Mantri Krishi Sinchai Yojana (PMKSY), the government has proposed increasing the budget allocation to Rs 3,500 crore for this fiscal from Rs 2,954.69 crore last year. To implement 18 core schemes in the framework of the 'Green Revolution', the budget allocation is projected to increase to Rs 12,560 crore for 2019-20 compared to the revised estimate of Rs 11,802 crore for 2018-19. DRX LUX