Budget 2018: Good News For Farmers, Focus On Low-Cost Farming And Higher MSPs

| February 1 , 2018 , 13:23 IST

Finance Minister Arun Jaitley on Thursday presented the last budget under the NDA government before the 2019 general elections, amidst criticisms that the Prime Minister Narendra Modi-led government was ignoring the farmers.

During the Budget 2018 presentation, Jaitley highlighted several initiatives taken for the agrarian community.

"The focus is on low-cost farming, higher MSP. Emphasis is on generating farm and non-farm employment for farmers," he said.

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"I am very happy to announce that minimum support price has been set at 1.5 times the production cost for kharif crops," Jaitley said.

"Agri-Market Development Fund with a corpus of 2000 crore to be set up for developing agricultural markets," said FM Jaitley.

"India's Direct Benefit Transfer scheme is a global success story. Government proposes to launch 'Operation Greens' on the lines of Operation Flood'" he said.

"Proposed to raise institutional credit for agriculture to Rs 11 Lakh Crore for 2018-19," said FM Jaitley.

"Propose launch of a restructure national bamboo mission with Rs 1200 crore,10,000 crore has been allocated to fisheries and animal husbandry sector," said Jaitley.

"Proposed to raise institutional credit for agriculture to Rs 11 Lakh Crore for 2018-19," he said.

Jaitley also highlighted that the government will initiate measures to support the management of crop residue in Haryana, Punja, UP, and Delhi which has been blamed for air pollution in the Delhi NCR area.

"Air Pollution in Delhi NCR is a cause for concern, special scheme will be implemented to support Govts of Haryana, Punjab,UP and Delhi NCT to address it and subsidize machinery for management of crop residue," he said.

"AMRUT program to focus on water supply to all households in 500 cities. Water supply contracts for 494 projects worth 19,428 core awarded," Jaitley said.

"Govt proposes to increase the target of providing free LPG connections to 8 crore to poor women," he said.

"We have allocated 1200 crore allocated for health wellness centres Rs 5 lakh per family per year for 10 crore poor families. The world's largest government-funded program," the Finance Minister said.

The Budget 2018 is the first union budget presented after the implementation of the Goods and Services Tax (GST) in July 2017.