The union budget of 2017 on Agriculture

1. BY
Sai Kiran
Pavan Balusu
Narra Sudheer

2. WHAT IS UNION BUDGET?
 The Union Budget is the annual report of
India as a country.
 It contains the government of India's
revenue and expenditure for the end of a
particular fiscal year.

3.  The Union Budget is the most extensive
account of the government's finances, in
which revenues from all sources and
expenses of all activities undertaken are
aggregated.
 It comprises the revenue budget and the
capital budget. It also contains estimates for
the next fiscal year.

4. THE SECTORS TO WHICH FUNDS ARE
ALLOCATED IN BUDGET
 Total expenditure of Budget 2017-18 estimated at
Rs 21.47 lakh crore.
 MNREGA: 48,000 crore
 PM Awas Yojna (rural): Rs 23,000 crore
 Agricultural credit: Rs 10 lakh crore
 Irrigiation fund corpus: Rs 5,000 crore
 NABARD Dairy fund corpus Rs 8000 crore, initial
amount at Rs 2000 crore

5.  National rural livlihood mission: 4,500 crore
 Panchayati Raj Allocation: 1,87,223 crore
 Industrial Skill Training: Rs 2,200 cr for
 Skill Acquisition and Knowledge Awareness: 4000
crore (Sankalp)
 Women and children welfare across ministries:
1,84,632 crore
 Schedule caste welfare allocation 52,393 crore

6. INTRODUCTION TO AGRICULTURE SECTOR
 Agriculture plays a vital role in India’s economy.
 Over 58 per cent of the rural households depend
on agriculture.
 Agriculture, along with fisheries and forestry, is one
of the largest contributors to the Gross Domestic
Product (GDP).

7.  Indian agrochemical industry is expected to grow at
7.5 per cent annually to reach US$ 6.3 billion by
2020 with domestic demand growing at 6.5 per cent
per annum and export demand at 9 per cent per
annum

8. WHAT DID THE BUDGET DO FOR
AGRICULTURE?
 The total allocation for the rural, agriculture and
allied sectors in 2017-18 is Rs 1,87,223 crore,
which is 24% higher than the previous year.
 The target for agricultural credit in 2017-18 has
been fixed at a record level of Rs 10 lakh crores.
 The coverage of Fasal Bima Yojana will be
increased from 30% of cropped area in 2016-17 to
40% in 2017-18 and 50% in 2018-19. For 2017-18,
provided a sum of Rs 9,000 crore

9.  Government will set up new mini labs in Krishi
Vigyan Kendras (KVKs) and ensure 100%
coverage of all 648 KVKs in the country.
 Addition of Rs 20,000 crore to the corpus of Long
Term Irrigation Fund.

10.  A dedicated Micro Irrigation Fund to be set up in
NABARD to achieve the goal, 'per drop more crop'.
The Fund will have an initial corpus of Rs 5,000
crore.
 The coverage of National Agricultural Market (e-
NAM) will be expanded from the current 250
markets to 585 APMCs.

11.  A Dairy Processing and Infrastructure Development
Fund would be set up in NABARD with a corpus of
Rs 8,000 crores over 3 years. Initially, the fund will
start with a corpus of Rs 2,000 crores.

12.  Undertake a Mission Antyodaya to bring one crore
households out of poverty and to make 50,000
gram panchayats poverty free by 2019
 Budget provision of Rs 38,500 crores under
MGNREGA in 2016-17 has been increased to Rs
48,000 crores in 2017-18.
 Together with the contribution of states, an amount
of Rs 27,000 crore will be spent on PMGSY in
2017-18.