The Union Budget 2024-2025, unveiled by Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman, signals a robust commitment to enhancing productivity and resilience within India’s agriculture sector. With a substantial allocation of ₹1.52 lakh crore, the budget introduces strategic measures aimed at fostering growth, innovation, and sustainability in agriculture and allied industries. At Drishti Biotech, we are poised to leverage these initiatives to drive transformative change for our stakeholders. Here, we delve into the key announcements and the exciting opportunities they present.
Major Initiatives and Opportunities
1. Digital Public Infrastructure (DPI) for Agriculture
The budget highlights the implementation of DPI in agriculture, aiming to cover farmers and their lands over the next three years. This initiative promises to revolutionize agricultural practices through enhanced data governance and digital tools.
- Digital Crop Survey: The DPI will facilitate a digital crop survey for Kharif in 400 districts, integrating details of 6 crore farmers and their lands into comprehensive registries. This will enable better planning, resource allocation, and policy formulation.
- Kisan Credit Cards: The issuance of Jan Samarth-based Kisan Credit Cards in five states will streamline credit access for farmers, fostering financial inclusion and enabling investment in modern farming techniques.
2. Self-Sufficiency in Pulses and Oilseeds
Achieving ‘atmanirbharta’ in pulses and oilseeds is a strategic priority. The government will strengthen production, storage, and marketing to ensure self-sufficiency in key oilseeds such as mustard, groundnut, sesame, soybean, and sunflower.
- Enhanced Production Strategies: Investments in research and development, coupled with improved agronomic practices, will boost yield and quality.
- Market Support: Strengthened marketing infrastructure will ensure farmers receive fair prices and reduced wastage.
3. Large-Scale Clusters for Vegetable Production
To meet the growing demand for vegetables, the government will develop large-scale production clusters near major consumption centers. This initiative will be supported by Farmer-Producer Organizations (FPOs), cooperatives, and startups.
- Supply Chain Integration: Enhanced supply chains for collection, storage, and marketing will reduce post-harvest losses and improve market efficiency.
- Promotion of FPOs and Startups: Support for FPOs and agricultural startups will drive innovation, improve access to markets, and enhance profitability for smallholders.
4. Shrimp Production and Export
The budget provides financial support for establishing Nucleus Breeding Centres for Shrimp Broodstocks, facilitating financing through NABARD for shrimp farming, processing, and export.
- Nucleus Breeding Centres: These centers will ensure the availability of high-quality shrimp broodstocks, boosting productivity and sustainability.
- Export Promotion: Enhanced financing options will support the expansion of shrimp farming and processing, positioning India as a global leader in shrimp exports.
Focus on Productivity and Resilience
Productivity and resilience in agriculture are top priorities in the Union Budget. Measures to support farmers, such as higher Minimum Support Prices (MSPs) and the extension of the Pradhan Mantri Garib Kalyan Anna Yojana, underscore the government’s commitment to ensuring a secure and profitable farming environment.
- Higher MSPs: Increased MSPs for all major crops provide a 50% margin over costs, ensuring financial security for farmers.
- Food Security Initiatives: Extending the Pradhan Mantri Garib Kalyan Anna Yojana for five years will benefit over 80 crore people, ensuring food security and stability.
Drishti Biotech’s Commitment to Agricultural Excellence
At Drishti Biotech, we are dedicated to harnessing these opportunities to drive growth and innovation in the agricultural sector. Our focus areas include:
- Biotechnology Solutions: Developing eco-friendly biotech products, such as bio-fertilizers and bio-pesticides, to promote sustainable and high-yield farming practices.
- Precision Agriculture: Utilizing advanced digital tools and data analytics to optimize crop management, resource use, and productivity.
- Farmer Empowerment: Providing farmers with access to digital platforms, training, and resources to enhance their knowledge and skills, ensuring they can thrive in a rapidly evolving agricultural landscape.
Conclusion
The Union Budget 2024-2025 sets a transformative agenda for the agriculture sector, emphasizing technological advancement, sustainability, and innovation. At Drishti Biotech, we are committed to leveraging these initiatives to unlock new opportunities and drive agricultural excellence.
We invite our stakeholders to join us in exploring these exciting prospects and working together to create a prosperous and sustainable future for Indian agriculture. For more information and detailed discussions, please reach out to us at Drishtibio@outlook.com