Sat Feb 01 14:44:09 IST 2025: ## India Unveils Multi-Billion Dollar Agricultural Boost in Budget 2024
**New Delhi** – Finance Minister Nirmala Sitharaman today announced a sweeping package of agricultural initiatives totaling billions of dollars, aimed at boosting crop productivity, creating rural employment, and strengthening the nation’s food security. The budget, presented in Parliament, focuses heavily on agriculture, calling it the “first engine of growth.”
Key highlights of the agricultural package include:
* **Prime Minister Dhan-Dhaanya Krishi Yojana:** This flagship program targets 100 low-productivity agricultural districts, benefiting an estimated 17 million farmers through improved productivity, crop diversification, and better post-harvest infrastructure. The program will be implemented in partnership with state governments.
* **Rural Prosperity and Resilience Programme:** Designed to tackle rural unemployment, this initiative focuses on creating opportunities for rural women, youth, small farmers, and landless families, aiming to reduce rural-urban migration.
* **Enhanced Kisan Credit Card (KCC) Limits:** The subsidized short-term loan limit for KCCs has been increased to ₹5 lakh (approximately $60,000 USD) from ₹3 lakh for 77 million farmers, fishermen, and dairy farmers. Further, the limit has been raised to ₹7 lakh (approximately $84,000 USD) for eligible borrowers.
* **Six-Year Pulse Production Mission:** Aimed at self-reliance in pulse production, this mission will focus on boosting tur, urad, and masoor output through procurement initiatives by government agencies Nafed and NCCF.
* **Dedicated Makhana Board in Bihar:** A new board will be established to improve the production, processing, and marketing of makhana (fox nuts) in Bihar, supporting farmers through farmer producer organizations (FPOs) and training.
* **New Research Ecosystem Mission:** This initiative will focus on developing and releasing over 100 high-yield, pest-resistant, and climate-resilient seed varieties.
* **Five-Year Cotton Mission:** This will improve cotton productivity and promote extra-long staple cotton varieties, supporting India’s textile sector.
* **Sustainable Fishing Framework:** A new framework will promote sustainable fishing practices in the Indian Exclusive Economic Zone and High Seas, particularly around the Andaman & Nicobar and Lakshadweep Islands.
* **New Urea Plant:** A new urea plant in Namrup, Assam, with an annual capacity of 1.27 million tonnes, is planned. Further support for the National Cooperative Development Corporation (NCDC) will enhance cooperative sector lending.
* **Comprehensive Horticulture Programme:** This program will promote the production, supply chains, processing, and fair pricing of vegetables, fruits, and “Shree Anna” (millets).
The announcements represent a significant investment in India’s agricultural sector, aiming to enhance productivity, create employment opportunities, and further strengthen the country’s food security.
First Piper 