Blog DirectoryBlog DirectoryBlog Directory

Monday, February 28, 2011

India’s Union Budget 2011 about Agriculture Of INDIA



AGRICULTURE

    * Removal of production and distribution bottlenecks for items like fruits and vegetables, milk, meat, poultry and fish to be the focus of attention this year.
    * Allocation under Rashtriya Krishi Vikas Yojana (RKVY) increased from Rs. 6,755 crore to Rs. 7,860 crore.

Bringing Green Revolution to Eastern Region

    * To improve rice based cropping system in this region, allocation of Rs. 400 crore has been made.

Integrated Development of 60,000 pulses villages in rainfed areas

    * Allocation of Rs. 300 crore to promote 60,000 pulses villages in rainfed areas.

Promotion of Oil Palm

    * Allocation of Rs. 300 crore to bring 60,000 hectares under oil palm plantations.
    * Initiative to yield about 3 lakh Metric tonnes of palm oil annually in five years.

Initiative on Vegetable Clusters

    * Allocation of Rs. 300 crore for implementation of vegetable initiative to provide quality vegetable at competitive prices.

Nutri-cereals

    * Allocation of Rs. 300 crore to promote higher production of Bajra, Jowar, Ragi and other millets, which are highly nutritious and have several medicinal properties.

National Mission for Protein Supplement

    * Allocation of Rs. 300 crore to promote animal based protein production through livestock development, dairy farming, piggery, goat rearing and fisheries.

Accelerated Fodder Development Programme

    * Allocation of Rs. 300 crore for Accelerated Fodder Development Programme to benefit farmers in 25,000 villages.

National Mission for Sustainable Agriculture

    * Government to promote organic farming methods, combining modern technology with traditional farming practices.

Agriculture Credit

    * Credit flow for farmers raised from Rs. 3,75,000 crore to Rs. 4,75,000 crore in 2011-12.
    * Interest subvention proposed to be enhanced from 2 per cent to 3 per cent for providing short-term crop loans to farmers who repay their crop loan on time.
    * In view of enhanced target for flow of agriculture credit, capital base of NABARD to be strengthened by Rs. 3,000 crore in phased manner.
    * Rs. 10,000 crore to be contributed to NABARD’s Short-term Rural Credit fund for 2011-12.

Mega Food Parks

    * Approval being given to set up 15 more Mega Food Parks during 2011-12.

Storage Capacity and Cold Chains

    * Augmentation of storage capacity through private entrepreneurs and warehousing corporations has been fast tracked.
    * Capital investment in creation of modern storage capacity will be eligible for viability gap funding of the Finance Ministry.

Agriculture Produce Marketing Act

    * In view of recent episode of inflation, need for State Governments to review and enforce a reformed Agriculture Produce Marketing Act.

Infrastructure and Industry

    * Allocation of Rs. 2,14,000 crore for infrastructure in 2011-12. This is an increase of 23.3 per cent over 2010-11. This also amounts to 48.5 per cent of total plan allocation.
    * Government to come up with a comprehensive policy for further developing PPP projects.
    * IIFCL to achieve cummulative disbursement target of Rs. 20,000 crore by March 31, 2011 and Rs.
25,000 crore by March 31, 2012.
    * Under take out financing scheme, seven projects sanctioned with debt of  Rs. 1,500 crore. Another Rs. 5,000 crore will be sanctioned during 2011-12.
    * To boost infrastructure development, tax free bonds of Rs. 30,000 crore proposed to be issued by Government undertakings during 2011-12.

National Manufacturing Policy

    * Share of manufacturing in GDP expected to grow from about 16 per cent to 25 per cent over a period of 10 years. Government will come out with a manufacturing policy.
    * Two Committees set up for greater transparency and accountability in procurement policy; and for allocation, pricing and utilisation of natural resources.
    * Issues relating to reconciliation of environmental concern from various departmental activities
including those related to infrastructure and mining to be considered by a Group of Ministers.
    * National Mission for hybrid and electric vehicle to be launched.
    * Financial Assistance to be made available for metro projects in Delhi, Mumbai, Bengaluru, Kolkata and Chennai.
    * Capital investment in fertiliser production proposed to be included as an infrastructure sub-sector.

Exports

    * Of 23 suggestions made by Task Force on Transaction Cost, constituted by the Department of Commerce, 21 suggestions already implemented. Action to be taken on the remaining two suggestions.
Transaction Cost of Rs. 2,100 crore will thus be mitigated.
    * Self assessment to be introduced in Customs to modernize the Customs administration.
    * Proposal to introduce scheme for refund of taxes paid on services used for export of goods.
    * Mega Cluster Scheme to be extended for leather products. Seven mega leather clusters to be set up during 2011-12.
    * Jodhpur to be included for the development of a handicraft mega cluster.

No comments: