Finance Minister Nirmala Sitharaman Wednesday announced plans to set up a digital public infrastructure for agriculture as an “open source, open standard, and interoperable public good”.
While delivering her Budget 2023-24 speech, Sitharaman said, “This will enable inclusive farmer-centric solutions through relevant information services, for crop planning and health, improved access to farm inputs, credit and insurance, help for crop estimation, market intelligence and support for the growth of agri-tech industry and startups”.
Sitharaman said, “An agriculture accelerator fund will be set up to encourage agri-startups by young entrepreneurs in rural areas. The fund will aim at bringing innovative and affordable solutions for challenges faced by farmers. It will also bring in modern technologies to transform agricultural practices and increase productivity and profitability.”
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The finance minister also announced a cluster-based approach to enhance the productivity of extra-long staple cotton. “To enhance the productivity of extra-long staple cotton, we will adopt a cluster-based and value chain approach through public-private partnerships. This will mean collaboration between farmers, state and industry for input supplies, extension services, and market linkages,” she said.
The finance minister also announced an outlay of Rs 2200 crore for setting up a plant to boost the availability of planting material for horticulture crops. “We will launch an Aatmanirbhar clean plant programme to boost the availability of disease-free quality planting material for high-value horticulture crops at an outlay of Rs 2,200 crore,” she added.
Union Budget 2023: All you need to know
Also ReadUnion Budget 2023: Rs 990 crore allocated for G20 presidencyUnion Budget 2023 income tax slabs: New tax regime is default, rebate inc…Budget 2023: FM Sitharaman announces PM PRANAM scheme to push states to p…Union Budget 2023-24: Education outlay hiked 8%, PM-Poshan gets 13% more↗️ Finance Minister Nirmala Sitharaman’s Union Budget 2023 has some big takeaways↗️ First, what everyone has been looking forward to: changes in the new income tax regime. She has made the new tax regime more attractive. There are changes in the rebate limit and in tax slabs. What does this mean for the taxpayer?↗️ FM Sitharaman proposed a 33% increase in capital investment outlay, raising it to Rs 10 lakh crore. This is the biggest in the past decade. What does it mean?↗️ Some articles get cheaper and others get costlier due to changes in customs duty. Here is a list↗️ The capital outlay for the railways has been increased to the highest ever – Rs 2.40 lakh crore. The government is trying to create more jobs↗️ FM Sitharaman said the fiscal deficit will fall to 5.9% of the GDP. What does it mean for the stakeholders?↗️ The FM called it the ‘first Budget of Amrit Kaal’. PM Narendra Modi said it will build a strong foundation for a developed India. What did opposition leaders say?