Highlights of Finance Minister speech on May 15, 2020
Highlights of Nirmala Sitharaman's address:
* The Essential Commodities Act will be amended to enable better pricing for farmers, agriculture products including cereals, edible oils, oil seeds, pulses, onion and potatoes will be de-regulated.
* 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 & aggregation points.
* Government to bring in law to implement agriculture marketing reforms to provide marketing choices to farmers; law will provide adequate choices to farmer to sell produce at attractive price.
* A facilitative legal framework will be created to enable farmers engage with processors, aggregators, large retailers, exporters in a fair and transparent manner.
* Funds transfer worth Rs 18,700 crores has been done under PM KISAN in past 2 months and PM Fasal Bima Yojana claims worth Rs 6,400 crores released in past 2 months.
* Government commits Rs 4000 crore for herbal cultivation in India. The move aims to cover 10 lakh hectare under herbal cultivation in 2 years; corridor of medicinal plants to come up across banks of Ganga.
* National animal disease control programme for foot and mouth disease of animals has been launched with a total outlay of Rs 13,343 crore. It will focus on 100 per cent vaccination of cattle, buffalo, sheep, goat and pig population in India.
* Government announces an Animal Husbandry Infrastructure Development Fund worth Rs 15,000 crore to support private investment in Dairy Processing, value addition and cattle feed infrastructure.
* Government to launch Pradhan Mantri Matsya Sampada Yojana for integrated, sustainable, inclusive development of marine and inland fisheries to plug critical gaps in fisheries value chain; move will provide employment to over 55 lakh persons & double exports to Rs 1 lakh crore.
* During the lockdown period, demand for milk reduced by 20-25%. A new scheme to provide interest subvention at 2% per annum to dairy cooperatives for 2020-21. The scheme will unlock Rs 5,000 crore additional liquidity, benefit to 2 crore farmers.
* It goes to the credit of the farmers who have always stood up to various challenges and has made India reach certain global benchmarks.
* To help Fisheries sector, operations of Marine Capture Fisheries and Aquaculture has been relaxed to cover Inland Fisheries.
* India is the largest producer of milk, jute, pulses; 2nd largest in sugarcane, cotton, groundnut, fruits, vegetables and fisheries and 3rd in cereal.
* The third set of announcements is focussed on agriculture, fisheries, animal husbandry and allied activities.
* In the last 2 months, number of measures taken to support farmers.
* The Essential Commodities Act will be amended to enable better pricing for farmers, agriculture products including cereals, edible oils, oil seeds, pulses, onion and potatoes will be de-regulated.
* 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 & aggregation points.
* Government to bring in law to implement agriculture marketing reforms to provide marketing choices to farmers; law will provide adequate choices to farmer to sell produce at attractive price.
* A facilitative legal framework will be created to enable farmers engage with processors, aggregators, large retailers, exporters in a fair and transparent manner.
* Funds transfer worth Rs 18,700 crores has been done under PM KISAN in past 2 months and PM Fasal Bima Yojana claims worth Rs 6,400 crores released in past 2 months.
* Government commits Rs 4000 crore for herbal cultivation in India. The move aims to cover 10 lakh hectare under herbal cultivation in 2 years; corridor of medicinal plants to come up across banks of Ganga.
* National animal disease control programme for foot and mouth disease of animals has been launched with a total outlay of Rs 13,343 crore. It will focus on 100 per cent vaccination of cattle, buffalo, sheep, goat and pig population in India.
* Government announces an Animal Husbandry Infrastructure Development Fund worth Rs 15,000 crore to support private investment in Dairy Processing, value addition and cattle feed infrastructure.
* Government to launch Pradhan Mantri Matsya Sampada Yojana for integrated, sustainable, inclusive development of marine and inland fisheries to plug critical gaps in fisheries value chain; move will provide employment to over 55 lakh persons & double exports to Rs 1 lakh crore.
* During the lockdown period, demand for milk reduced by 20-25%. A new scheme to provide interest subvention at 2% per annum to dairy cooperatives for 2020-21. The scheme will unlock Rs 5,000 crore additional liquidity, benefit to 2 crore farmers.
* It goes to the credit of the farmers who have always stood up to various challenges and has made India reach certain global benchmarks.
* To help Fisheries sector, operations of Marine Capture Fisheries and Aquaculture has been relaxed to cover Inland Fisheries.
* India is the largest producer of milk, jute, pulses; 2nd largest in sugarcane, cotton, groundnut, fruits, vegetables and fisheries and 3rd in cereal.
* The third set of announcements is focussed on agriculture, fisheries, animal husbandry and allied activities.
* In the last 2 months, number of measures taken to support farmers.
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