Budget 2024 for Farmer: Finance Minister Nirmala Sitharaman discussed important measures intended to support the farming community and the agriculture industry in her Budget 2024 speech.
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PM Kisan Samman Yojana:
- Direct financial assistance is provided annually to 11.8 crore farmers, including marginal and small farmers, under the PM Kisan Samman Yojana.
- This program ensures farmers’ financial security by acting as a vital support system.
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PM Fasal Bima Yojana:
- Crop insurance is extended to 4 crore farmers through the PM Fasal Bima Yojana.
- By offering insurance coverage for their crops, this program aims to protect farmers by reducing the risks associated with unanticipated catastrophes.
- The aforementioned initiatives help farmers produce food for the nation as well as the rest of the world.
- This indicates how these programs contribute to the larger causes of food security and agricultural productivity.
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Electronic National Agricultural Market (e-NAM):
- The e-NAM has successfully integrated 1,361 mandis, providing services to 1.8 crore farmers.
- The trading volume through e-NAM is substantial, amounting to 3 lakh crores of rupees.
- It is expected that the agriculture industry would expand in a more inclusive manner, which is positive for the industry.
The government’s commitment to helping farmers through financial aid, crop insurance, and the incorporation of technology into agricultural markets is highlighted in the Budget 2024, which will ultimately promote more equitable and rapid growth in the industry.