New Delhi | Jagran Business Desk: Finance Minister Nirmala Sitharaman will be presenting the Union Budget 2021 on February 1. Every sector is having high hopes from this year's Budget as this will be the first after the coronavirus pandemic pushed the country's economic growth to a record low. Besides coronavirus pandemic, the Budget will also be presented amid the massive agitation by farmers from almost last two months against the Centre's three new farm laws.
Taking the massive agitation in consideration, the government is likely to announce some measures keeping in mind the interest of farmers. Also, the government is likely to raise the farm credit target to about Rs 19 lakh crore in the upcoming budget.
The government is also aiming to double the income of the farmers by 2022. In wake of this, the government had started Prime Minister Kisan Samman Nidhi Yojana under which, farmers used to get Rs 6000 in three equal instalments during a financial year.
What Farmers are expecting from Union Budget 2021:
This year the agricultural sector is expecting major reforms in the Union Budget 2021. As the government aims to increase the income of farmers, the prime focus will be on the infrastructure. Not just this even the allocation of additional funds for the infrastructure schemes of rural sectors might see a change.
The government had made a provision of Rs 2 lakh crore for the agriculture sector in the budget for the year 2020-21. Most of these allocations were made for short-term cash incentives and subsidies. However, limited funds were allocated for the infrastructure-related development of this sector, but the government had earlier allocated funds for the agricultural infrastructure under the Atmanirbhar Bharat scheme during the pandemic.
Also, there is a need to increase allocation towards the addition of more FPOs and strengthening of existing FPOs to improve and establish market linkage for all small farmers.
A farmer from Bihar, Mantosh Kumar, as reported by Dainik Jagran, said, that the farmers from his region are expecting special incentives and discounts on adopting new technologies in this year's Budget. He further said that they also want the exemption from GST on machines purchased for the agricultural sector.
Posted By: Niharika Sanjeeiv