Budget Buzz: Finance Minister Proposes New Scheme For Providing Digital And Hi-tech Services For Farmers

1 Feb 2022 , 02:11 PM

While presenting the Union Budget 2022-23 in the Parliament today, the Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman said the procurement of wheat in Rabi 2021-22 and the estimated procurement of paddy in Kharif 2021-22 will cover 1208 lakh metric tonnes of wheat and paddy from 163 lakh farmers, and Rs 2.37 lakh crore direct payment of MSP value to their accounts. The Finance Minister said that a new scheme will be launched in PPP mode under which farmers will be provided with digital and hi-tech services. There will be involvement of public sector research and extension institutions along with private agri-tech players and stakeholders of agri-value chain.

While emphasizing on the start-up ecosystem in agriculture, Nirmala Sitharaman said that a fund with blended capital, raised under the co-investment model, will be facilitated through NABARD. The Finance Minister said, Implementation of the Ken-Betwa Link Project, at an estimated cost of Rs 44,605 crore will be taken up. Its aim is to provide irrigation benefits to 9.08 lakh hectare of farmers’ lands. She further reiterated that the draft DPRs of five river links- Damanganga-Pinjal, Par-Tapi- Narmada, Godavari-Krishna, Krishna-Pennar and Pennar-Cauvery have been finalized. The Centre will provide support for implementation after the consensus among beneficiary states.

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