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Economic Package of 1.5 Lakh for agriculture and allied sectors

As soon as the lockdown was announced, we rushed to the grocery shops to purchase the thing at bulk to prepare for the long run. Isn’t it? Farmers provide us with the most necessary things in our life. The extended lockdown along with rain in many regions has put the residence in rural areas under distress.

Finance Minister Nirmala Sitharaman said the third tranche of the economic package will deal with giving relief to agriculture and allied industries. She further said the package would focus on infrastructure and building capacities in agriculture and allied activities. The centre pushes through agri-marketing reforms as part of the stimulus package.

  1.  Rs 1.5 lakh crore Agri Infrastructure Fund for farm-gate infrastructure for farmers for projects at farm-gate & aggregation points primary agricultural cooperative societies, farmers producer organisations, agriculture entrepreneurs, startups, etc.
  2. Under the vision shown by PM, “vocal for local-with aim to global outreach” Rs 10,000 crore scheme for the formalisation of Micro Food Enterprises. This will help two lakh MFE’s to attain technical up-gradation, build brands and marketing.
  3. Essential commodities act to formulate a new law to provide more freedom for farmers to sell directly to consumers and even he is allowed to sell online. And further, she stated there should be no barrio to his trade.
  4. Rs 20,000 crore for fishermen through Pradhan Mantri Matsya Sampada Yojana (PMMSY) for coordinated, reasonable, comprehensive improvement of marine and inland fisheries and to fill basic holes in the fisheries esteem chain. Out of this, Rs 11,000 crore will be allocated for activities in marine, inland fisheries and aquaculture and Rs. 9000 Cr for infrastructure including fishing harbours, cold chain, markets etc. It is expected to lead to additional fish production of 70 lakh tonnes over 5 years and employment.
  5. Animal Husbandry Infrastructure Development Fund worth Rs 15,000 crore will be set up to support private investment in dairy processing, value addition and cattle feed foundation. Incentives will be given for establishing plants for the export of niche dairy products.
  6. Promotion of herbal cultivation with a fund of Rs 4,000 crore to cover 10,00,000 hectare land under natural development in the following two years. It is expected to lead to Rs. 5,000 crore income generations for farmers.
  7. Rs 500 crore for beekeeping activities – Infrastructure advancement identified with incorporated beekeeping improvement focuses, assortment, promoting and capacity focuses, post-reap and esteem expansion offices and so on.

Conclusion

In case of an unexpected mishap, farmers and urban people suffer the most. Those people make up to 70-85% of our population. The lockdown affected them beyond control. The announced relief may act as restoring measures. Even if the lockdown still extends we can expect no harm to those segments. Atmanirbhar Bharat Abhiyan aims at making India self-reliant/independent.

The prolonged lockdown and contagious coronavirus hit the Indian economy very hard so the PM has also hinted at bringing in several reforms to revive the Indian economy. The FM says the idea is to empower the sectors of economy instead of just entitlement.

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