Budget 2023: Govt To Support Hyderabad-Based Millet Institute As Centre Of Excellence, Says FM Nirmala Sitharaman

Union Budget 2023: The consumption of millets furthers nutrition, food security and welfare of the farmers, Sitharaman said during her Union Budget speech

Finance Minister Nirmala Sitharaman. ( Image Source :ANI )

Finance Minister Nirmala Sitharaman while presenting Union Budget 2023-24 on Wednesday said that the Hyderabad-based Indian Institute of Millet Research will be supported as a centre of excellence. The announcement comes after the Government of India-sponsored proposal for International Year of Millets (IYM) 2023 was accepted by the UNGA.

This will help in sharing best practices, research and technologies at the international level. The consumption of millets furthers nutrition, food security and welfare of the farmers, Sitharaman said during her Union Budget speech. 

Indian Institute of Millet Research will be supported as a centre of excellence: FM Nirmala Sitharaman in Parliament

— ANI (@ANI) February 1, 2023

"We are the largest producer and the second largest exporter of Shree Anna in the world. We grow several types of Shree Anna, such as Jowar, Raagi, Bajra, Ramdana, Cheena and Saama, among others. These have a number of health benefits and have been an integral part of our food for centuries," FM Sitharaman said in Parliament.

Finance Minister Nirmala Sitharama during her Budget 2023 speech announced an 'Agriculture Accelerator Fund' will be set up to encourage agri-startups by young entrepreneurs. Finance Minister Sitharaman said the agricultural credit target will be increased to Rs 20 lakh crores with a focus on animal husbandry, dairy and fisheries.

In the Budget 2023, the Government has also planned to set up massive decentralised storage capacity to help farmers. FM Nirmala Sitharaman also said, over the next 3 years, one crore farmers will get assistance to adopt natural farming. 10,000 bio input resource centres will also be set up, FM said in her budget speech.

For agricultural fertilisers, PM-PRANAM will be launched to incentivise states to promote alternative fertilisers. The Centre in its previous budget had talked about promoting post-harvest value addition, consumption and branding of millet products.