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Finance Minister announces major agriculture reform

Friday, May 15, 2020 • Telugu Comments
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Finance Minister announces major agriculture reform

Union Finance Minister Nirmala Sitharaman on Friday announced a catalogue of reforms concerning agriculture, animal husbandry and fisheries. Some of the reforms are game-changing. They relate to "defanging Essential Commodities Act" and "dismantling the Agriculture Produce and Marketing Committees" across the country.

Here we bring you key highlights of the Modi government's reform package as part of Aatmanirbhar Abhiyan:

Government to bring in a law to implement agriculture marketing reforms to provide marketing choices to farmers; the law will provide adequate choices to the farmer to sell produce at an attractive price.

The government will amend the Essential Commodities Act to enable better price realisation for farmers; Agriculture foodstuffs including cereals, edible oils, oilseeds, pulses, onions and potato will be deregulated.

To provide assurance to the farmer on Agriculture Produce Price and Quality, a facilitative legal framework will be created to enable farmers for engaging with processors, aggregators, large retailers, exporters etc. in a fair and transparent manner

Animal Husbandry Infrastructure Development Fund worth Rs. 15,000 crore to support private investment in Dairy Processing, value addition and cattle feed infrastructure will be brought into existence. A new scheme has been launched for interest subvention @ 2% per annum to dairy cooperatives for 2020-21 aimed at unlocking Rs 5,000 crores additional liquidity, benefitting 2 crore farmers.

In a move to strengthen infrastructure in agriculture, financing facility of Rs. 1 lakh crore will be provided for funding Agriculture Infrastructure Projects at farm-gate and aggregation points.

Government to implement a scheme for infrastructure development related to Beekeeping; aims to increase income for 2 lakh beekeepers with special thrust on capacity building of women.

To promote Herbal Cultivation in India, the Government commits Rs 4,000 crore; move aims to cover 10 lakh hectare under herbal cultivation in 2 years; a corridor of medicinal plants to come up across banks of Ganga.

National Animal Disease Control Programme has been launched with a total outlay of Rs. 13,343 crores for 100% vaccination of cattle, buffalo, sheep, goat and pig population in India.

Government to launch Pradhan Mantri Matsya Sampada Yojana for integrated, sustainable, inclusive development of marine and inland fisheries to plug critical gaps in the fisheries value chain; move will provide employment to over 55 lakh persons and double exports to Rs 1 lakh crore.

Aiming to implement PM's vision of ‘Vocal for Local with Global outreach’, a scheme will be launched to help 2 lakh Micro Food Enterprises; Improved health and safety standards, integration with retail markets and improved incomes to be key focus areas.

To help the Fisheries sector, operations of Marine Capture Fisheries and Aquaculture has been relaxed to cover Inland Fisheries.

Source of above information: PIB India

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