The Indian government has taken several measures to support and improve the agriculture sector, such as enhancing budget allocation, providing income support to farmers through PM KISAN, launching the Pradhan Mantri Fasal Bima Yojana, increasing institutional credit for agriculture, fixing minimum support prices, promoting organic farming and encouraging micro irrigation and farmer producer organizations. These initiatives aim to reduce input costs, increase production, and raise the incomes of farmers.
The Indian government has taken several steps to support farmers and increase their income. The budget allocation for agriculture and related sectors has increased over 4.5 times and a scheme called PM KISAN provides income support to farmers by giving them Rs. 6000 annually. The Pradhan Mantri Fasal Bima Yojana (PMFBY) has been implemented to address problems with high insurance premiums and to increase protection for farmers. Institutional credit for agriculture has also increased, with a target to reach Rs. 18.5 lakh crore in 2022-23. Additionally, the government has fixed minimum support prices at a level that will provide a 50% return on the cost of production. Organic farming is being promoted in the country, and a scheme called Per Drop More Crop aims to increase water use efficiency and reduce input costs for farmers. The government has also created a Micro Irrigation Fund and launched a scheme for the formation and promotion of Farmer Producer Organisations (FPOs).
Farmers are one of the primary groups who are expected to benefit from the schemes launched by the government. Schemes such as e-NAM, Agriculture Infrastructure Fund (AIF), Cluster Development Programme (CDP) etc, aims to provide farmers with more choices in the market, allowing them to sell their products directly to consumers or processors without intermediaries. This could potentially increase their profits and reduce their dependence on middlemen. Additionally, the reforms also focus on promoting sustainable agriculture practices and improving access to credit, seeds and technology for farmers. These initiatives should help farmers to enhance their yield and livelihood, making farming a more viable profession for future generations.
- Enhanced budget allocation for agriculture and animal husbandry increased 4.59 times to Rs. 138,920.93 crore in 2022-23.
- PM-KISAN income support scheme provides Rs. 6000 per year to farmers, with Rs. 2.24 lakh crore released so far.
- PMFBY launched in 2016 to address high premium rates and capping, with 38 crore enrolled and over 12.37 crore receiving claims worth Rs. 130,015 crore.
- Institutional credit increased from Rs. 7.3 lakh crore to target of Rs. 18.5 lakh crore by 2022-23, with a focus on Kisan Credit Cards and concessional credit.
- MSP increased with a return of 50% over production cost, with paddy at Rs. 2040 per quintal and wheat at Rs. 2125 per quintal.
- Organic farming is promoted through Paramparagat Krishi Vikas Yojana, Namami Gange, Bhartiya Prakratik Krishi Padhati, and Mission Organic Value Chain Development for North East Region () of India.
- Per Drop More Crop scheme launched to increase water use efficiency and productivity through Micro Irrigation.
- Micro Irrigation Fund created with NABARD to increase from Rs. 5000 crore to Rs. 10000 crore.
- New scheme to form 10,000 FPOs launched with a budget of Rs. 6865 crore, with 4028 registered and equity grant released to 1415 FPOs.
- National Beekeeping and Honey Mission launched to increase crop productivity and farmers’ income.
These are certainly a comprehensive set of programs, schemes and policies aimed at improving the state of agriculture and the livelihoods of farmers in India. The increased budget allocation and the launch of PM-KISAN provide direct financial support to farmers, while initiatives like Pradhan Mantri Fasal Bima Yojana and the fixing of minimum support prices at a certain level will help mitigate financial risks for farmers. The increased institutional credit for the agriculture sector, promotion of organic and natural farming and the creation of the Micro Irrigation Fund will help improve the productivity and efficiency of agricultural operations. The formation and promotion of Farmer Producer Organizations (FPOs) will help bring together farmers and provide them with resources and support to increase their bargaining power in the market. Overall, these efforts aim to create a more sustainable and profitable agricultural sector, benefiting both farmers and the economy as a whole.
Note: The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial or legal advice. Pesticides are a considerable risk of loss in crops and viewers are advised to do their own research before making any decisions.