Farmer Budget: Govt announces support income of Rs 6000/year for small farmers

This provision is likely to benefit 12 crore farmer families and will cost Rs 75,000 crore to the government; and will be completely funded by the government of India.

New Delhi: Interim Budget 2019 has a great news for farmers, as the government has announced a political bhramsatra by declaring structural income support for small farmers with land lesser than 2 hectre. As per the latest announcement made in the interim budget, small farmers will get income support of Rs 6000 per year. This support price will be transferred in accounts of farmers in 3 equal installments of Rs 2000 each. Interim Finance Minister further declared that the policy has already been implemented and came into play on December 2018, therefore the farmers are set to receive their 1^st installment any time soon. This provision is likely to benefit 12 crore farmer families and will cost Rs 75,000 crore to the government; and will be completely funded by the government of India. Speaking on the same, Goyal said “This will help farmers to live a respectable life”. He further announced that Rs 20,000crore will be added to revised estimates of previous year. All farmers affected by severe national calamities will get 5% release in interest, Goyal said. Agriculture and farmers, which provides 49% of total employment to the people of India and supports nearly 70% of population is at center-stage of Indian politics this year, considering the huge defeat the government had to face in the recent Assembly elections in Rajasthan, Madhya Pradesh and Chhattisgarh; as it was being said that the tall promises made to farmers were the reason behind Congress’ victory in Assembly polls. Though the farmer suicide rate in the recent past has reduce, but number of farmer protests which took place in last one year cannot be ignored; especially after government in its 2016 budget had promised to double the farmer income by 2022.