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Nirmala Sitharaman LIVE On Economic Package: Agriculture & Allied Activities In Focus

Focus is on agriculture and allied activities in Finance Minister Nirmala Sitharaman’s third tranche today. Of the 11 measures, 8 relate to strengthening infrastructure, capacities and building better logistics, while the rest 3 pertain to governance and administrative reforms.

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During the lockdown period, MSP of amount more than Rs 74,300 crore have been provided for agriculture sector, said the Union Finance Minister.

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The FM said a new scheme will be announced to provide interest subvention at 2% per annum to dairy cooperatives for 2020-21. This scheme will unlock 5,000 additional liquidity, benefitting 2 crore farmers. Around 560 Lakh litre per day (LLPD) was procured during COVID-19 lockdown by cooperatives against daily sale of 360 LLPD, she said.

Sitharaman said that the government will immediately create a Rs 1 lakh crore Agri-Infrastructure Fund for farm gate infrastructure for farmers.

Rs 10,000 crore scheme introduced to promote ‘Vocal For Local’ with global outreach vision. The scheme is to help 2 lakh Micro Food Enterprises (MFEs) to attain global goals, said the Union Finance Minister.

  • Rs 4000 crore announced by Union Finance Minister Nirmala Sitharaman for promotion of herbal cultivation. 10,00,000 hectare will be covered in the next 2 years, FM said.
  • Rs 15,000 crore for Animal Husbandry Infra Development aimed at supporting private investment in dairy processing, value addition and cattle feed infra.

Farmers will have choice to sell produce at attractive price. Union Finance Minister proposes Central Law to bring reforms in Agri marketing.

“Want to bring a legal framework which will focus on risk mitigation for farmers, assured returns and quality standardisation,” she said.

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