Sunday, July 14, 2024
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“Proposals for Farmer Schemes and Loan Waivers in Agriculture’s Growth”

"Proposals for Farmer Schemes and Loan Waivers in Agriculture's Growth"

The agriculture department is taking center stage with proposals worth Rs.40 thousand crores, a substantial increase from the previous budget’s allocation of Rs.26,831 crore for the agriculture sector. Notably, the Rythu Bandhu Scheme is set for a transformation into the Rythu Bharosa Scheme, aligning with the new government’s emphasis on farmer-centric initiatives.

The Congress, in its manifesto, pledges an additional Rs.15 thousand per acre, on top of the existing Rs.10 thousand, promising a financial boost for farmers. However, there are indications that the new government might impose restrictions on the scope of farmer assurance, focusing on cultivated lands. To address previous criticisms, officials are diligently working on guidelines to ensure funds are directed to genuine agricultural needs rather than wastelands or real estate holdings.

On the financial front, there’s a push for an extensive loan waiver, with officials formulating plans for the implementation of a Rs.2 lakh loan waiver. The previous government’s promise of a Rs.1 lakh waiver saw only Rs.13 thousand crores being executed out of the Rs.22 thousand crores earmarked. A special corporation is in the works to expedite the process and clear all crop loans simultaneously.

In the realm of farmer insurance, proposals have increased to accommodate the growing number of farmers. The horticulture department has submitted Rs.1000 crores in proposals, including Rs.481 crores for oil palm cultivation across one lakh acres. With matching grants and central funds, the cumulative proposals signify a significant investment in boosting agricultural practices in the state. The upcoming guidelines and allocations from the state government will play a crucial role in realizing these ambitious plans.

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