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Home / Budget / News /  Budget 2022: From Kisan drones to MSP; 10 things FM announced for farmers

Budget 2022: From Kisan drones to MSP; 10 things FM announced for farmers

Union Budget 2022: Here's what FM Sitharaman announced for farmers today

  • FM Sitharaman said that Indian Railways will develop new products and efficient logistics services for small farmers
  • The FM said that the Centre will pay 2.37 lakh crore towards the procurement of wheat and paddy under MSP operations

Budget 2022 India: Finance Minister Nirmala Sitharaman on Tuesday presented the annual Budget, focused on ensuring assured income to farmers with an announcement of 2.37 lakh crore towards direct payments for minimum support price (MSP) to wheat and paddy farmers for the fiscal year 2022-23. "Farm procurement value for FY23 to be 2.37 trillion," she said in her speech.

Budget 2022 India: Finance Minister Nirmala Sitharaman on Tuesday presented the annual Budget, focused on ensuring assured income to farmers with an announcement of 2.37 lakh crore towards direct payments for minimum support price (MSP) to wheat and paddy farmers for the fiscal year 2022-23. "Farm procurement value for FY23 to be 2.37 trillion," she said in her speech.

The announcement has come after months-long farmers’ agitation demanding guaranteed MSP for farm produce ended with the government repealing three controversial farm reform laws brought in 2020.

The announcement has come after months-long farmers’ agitation demanding guaranteed MSP for farm produce ended with the government repealing three controversial farm reform laws brought in 2020.

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Union Budget 2022: Here's what FM Sitharaman announced for farmers today:

1. The Finance Minister said that Indian Railways will develop new products and efficient logistics services for small farmers and Small and Medium Enterprises.

2. The FM said that the Centre will pay 2.37 lakh crore towards the procurement of wheat and paddy under MSP operations. "The procurement of wheat in Rabi 2021-22 and the estimated procurement of paddy in Kharif 2021-22 will cover 1,208 lakh metric tonnes of wheat and paddy from 163 lakh farmers, and 2.37 lakh crore direct payment of MSP value to their accounts," Sitharaman said in her speech.

3. FM Sitharaman said that the Government of India will promote 'Kisan Drones' for crop assessment, digitization of land records, spraying of insecticides, and nutrients.

4. She said that the Centre will also promote chemical-free natural farming, public-private partnerships for the delivery of digital and high-tech services to farmers across the country. The FM asserted that the Centre will provide a comprehensive package, along with the state governments for farmers to adopt suitable varieties of fruits and vegetables, and to use appropriate production and harvesting techniques.

5. She said that a fund with blended capital, raised under the co-investment model, will be facilitated through NABARD. This will finance startups for agriculture and rural enterprise, relevant for farm produce value chain. The activities for these startups will include, inter alia, support for FPOs, machinery for farmers on a rental basis at farm level, and technology including IT-based support, the FM added.

6. To reduce dependence on the import of oilseeds, a rationalised and comprehensive scheme to increase domestic production of oilseeds will be implemented.

7. According to FM Sitharaman, 5-7% of biomass pellets will be co-fired in thermal power plants resulting in CO2 savings of 38 MMT annually. She said it will provide extra income to farmers and job opportunities to locals and help avoid stubble burning in agriculture fields. Chemical-free, and natural farming will be promoted throughout the country, with a focus on farmers’ lands in 5-km wide corridors along river Ganga, at the first stage.

8. The FM said that 2023 has been announced as the International Year of Millets. Therefore, the finance minister said that the Centre will support post-harvest value addition, enhance domestic consumption of millets, as well as, and will do branding of millet products nationally and internationally.

9. States will be encouraged to revise syllabi of agricultural universities to meet the needs of natural zero budget and organic farming, modern-day agriculture, value addition and management, she added.

10. The FM also said the government will bring in policies and required legislative changes to promote agroforestry and private forestry. In addition, financial support will be provided to farmers belonging to Scheduled Castes and Scheduled Tribes who want to take up agroforestry

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