Budget 2020: Agricultural Credit Target Set At Rs 15 Lakh Crore, Says Sitharaman

Sitharaman said that a 16-point action plan to boost agriculture and farmers’ welfare has been proposed by the government.

Budget 2020: 20 lakh farmers will be provided funds for setting up standalone solar pumps, Sitharaman said. (File Photo/ Getty)

New Delhi: The government has set the agricultural credit target at Rs 15 lakh crore for fiscal year 2020-21, Finance Minister Nirmala Sitharaman announced, as she tabled the Union Budget 2020 in the Parliament on Saturday. She said that a 16-point action plan to boost agriculture and farmers’ welfare has been proposed by the government. In her second Budget presentation, Sitharaman said that the government has insured 6.11 crore farmers under Pradhan Mantri Fasal Bima Yojna and that the Nabard refinance scheme will be expanded. Speaking on irrigation and water facilities, Sitharaman said that government is proposing comprehensive measures for 100 water stressed districts. 20 lakh farmers will be provided funds for setting up standalone solar pumps. They will be allowed to set up solar units on barren/fallow lands; supply power to grids, she added. “Government proposes plans to help farmers use proper manure and little water, encourage balanced use of fertilizers. FCI and Warehousing Corporation of India will be directed to build warehousing facility on their land.  NABARD will map and geo-tab 162 mn tonne capacity agricultural warehouses across country,” she said. She further said Indian Railways will set up Kisan Rail in public private partnership (PPP) mode for cold supply chain to transport perishable goods. Get LIVE updates of the Budget session here Also, Krishi Udaan will be launched by Civil Aviation Ministry to transport agri-products to national as well international destinations. The government will also promote one horticulture crop in one district on cluster basis, she said, adding that horticulture with 311 MT exceeded production of food grains. She also said the government will take steps for conservation of marine fishery, and self help groups will be allowed to set up village agri-storage facilities.