Income Support bonanza for farmers; separate Department of Fisheries in Budget 2019-20 proposals

Income Support bonanza for farmers; separate Department of Fisheries in Budget 2019-20 proposals

Agency News

New Delhi, Feb 1 : The government on Friday announced an income support bonanza for farmers--Pradhan Mantri Kisan Samman Nidhi--under which Rs 6000 per hectare in a year will be deposited directly in the bank accounts of about 12 crore farmers in the country.

It also announced creation of a separate Department of Fisheries, taking it away from the Union Ministry of Agriculture and Farmers' Welfare.

The Centre will bear the cost of the entire scheme PM Kisan Samman Nidhi.

Announcing this in the Lok Sabha while presenting the Budget for 2019-20, Union Finance Minister Piyush Goyal said he was providing Rs 75,000 crore for the income support scheme and another Rs 20,000 crore in the Revised Estimate for the current year (2018-19) itself.

``This will pave the way for farmers to earn and live a life of respect and is towards out goal of doubling farmers' income by 2022,' the Minister said amidst loud cheering from treasury benches.

Prime Minister Narendra Modi was also seen thumping his desk with a smile.Mr Goyal said that the amount will be deposited in farmers' accounts in three instalments in a year, of which Rs 2000 per hectare will be deposited right away. ``This will help farmers with acquiring farm inputs such as quality seeds, irrigation, neem-coated urea and credit.'

The Minister also announced a raise in interest subvention of timely repayment of farm credit.``Farm credit is Rs 11.68 lakh crore,' he said recognising the good work done by farmers.In keeping with the policy of the government, the Minister announced the formation of a Rashtriya Kamdhenu Ayog to upscale the production and productivity of cows.

An additional Rs 750 crore has been allocated for the National Gokul Mission.Mr Goyal also announced ``sustained and focused' attention to the fisheries and animal husbandry sector that have grown.

Significantly, he announced an additional 3 per cent income sub-vention for farmers involved in fisheries taking the entire interest sub-vention upto 5 per cent, at par with crop loan discounts.

To make all farmers come under the Kisan Credit Card scheme, the government has simplified the forms, he said.UNI