"Efforts for value addition in the agricultural sector and boosting farmers' income will be stepped up," the finance minister said. The government would expand the application of a novel fertiliser called Nano DAP to all agro-climatic zones, she added.
In all, the interim budget allocated a total of ₹1.17 lakh crore for 2024-25 for the agriculture department, marginally up from funds actually spent (revised estimates) of ₹1.16 lakh crore for 2023-24 and budget estimates of ₹1.15 lakh crore for 2023-24.
Funding for the agriculture ministry's key flagship crop insurance scheme was cut to ₹14,600 crore for 2024-25, down from ₹15,000 crore (revised estimates) spent in 2023-24.
The finance minister said that in the past 10 years, the government gave direct financial assistance to 118 million farmers under PM-Kisan Samman Yojana, a cash handout programme for every landholding agricultural family.
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