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Economic Package of 1.5 Lakh for agriculture and allied sectors

We went to the food stores as soon as the lockdown was declared to stock up on supplies for the long haul. Isn’t that so? Farmers offer us with the most essential necessities in life. Residents in rural areas have been affected by the prolonged lockdown, which has been exacerbated by rain in several areas.

Agriculture and associated industries will receive help in the third tranche of the economic package, according to Finance Minister Nirmala Sitharaman. She went on to say that the package would be focused on infrastructure and capacity building in agriculture and related industries. As part of the stimulus package, the centre lobbies for agri-marketing changes.

  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

Farmers and city dwellers are the ones that suffer the most in the event of an unanticipated mishap. These people account for 70-85% of our population. The lockdown had an uncontrollable effect on them. The alleviation measures announced may serve as restorative actions. We can expect no harm to those segments even if the lockout continues. The Atmanirbhar Bharat Abhiyan seeks to make India self-sufficient and independent.

The lengthy lockdown and virulent coronavirus wreaked havoc on the Indian economy, prompting the Prime Minister to suggest a slew of reforms to help the country recover. The goal, according to the FM, is to strengthen segments of the economy rather than relying solely on entitlement.

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