Home / Budget / News /  Budget 2021: Farmers paid 75,100 cr on wheat MSP in FY21, says FM Sitharaman

Amid Opposition's protest in Parliament against the three new farm laws, Finance Minister Nirmala Sitharaman in her Budget speech said agri procurement has increased steadily, thus benefiting farmers.

43.36 lakh wheat growing farmers benefited from govt procurement under MSP as against 35.57 lakh previously, said Sitharaman on Monday. She said farmers have been paid 75,100 crore on wheat MSP in FY21.

"Amount paid to wheat farmers in FY20 is 62,802 crore versus 33,874 crore in FY14. The government is offering MSP of at least 1.5 times of production for all commodities," said Sitharaman while adding that the Modi government is committed for welfare for farmers.

Allocation to rural infra development has been increased to 40,000 crore in next fiscal from 30,000 crore in FY21, she said.

1,000 more mandis will be integrated with electronic national market, said FM. Operation green scheme to cover 22 more perishable commodities, announced Sitharaman.

Sitharaman has made a provision of 15,700 crore for the Ministry of Micro, Small and Medium Enterprises (MSME) sector in the Union Budget 2021-22.

"We have taken a number of steps to support the MSME sector in this budget. I have provided 15,700 crore more than double the previous year," said Sitharaman while presenting the Union Budget in the Parliament.

"Financial Inclusion: To further facilitate credit flow under the scheme of Stand Up India for the Scheduled Caste and Scheduled Tribes and also women, I propose to reduce the margin money requirement from 25 per cent 15 per cent only and to also include loans for activities in allied activities in agriculture," the Finance Minister added.

The Union Budget 2021-22 proposals rest on six pillars: Health and well-being, physical and financial capital and infrastructure, inclusive development for aspirational India reinvigorating human capital, innovation and R&D, minimum government and maximum governance.

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