20 Lakh Crore Rupees Economic Package: Announced Reforms For Farmers And Fishermen

May 15, 2020, Finance Minister Nirmala Sitharaman today 20 lakh crore economic package with focus on agriculture, fisheries and related activities. In the last two parts of the package, FM’s focus was on MSMEs, NBFCs, MFIs, migrant workers, street vendors and small farmers. Prime Minister Narendra Modi has announced that the package aims to make India self-reliant. He has indicated several reforms to revive the Indian economy affected by the nationwide spread of infectious coronovirus disease and prolonged lockdown.

For farmers

The Finance Minister said that even during the lockdown, the farmers continued to work, small and medium farmers own 85 percent of the agriculture. He said, during Corona several steps were taken in two months. Under PM Kisan Yojana, more than 18 thousand crore rupees were deposited in the account of farmers. Apart from this, an amount of 6400 crores has also been given to the farmers under the insurance scheme. 74300 crores was given for MSP.

The government is immediately going to create an agricultural infrastructure fund of Rs 1 lakh crore for the farm gate infrastructure for farmers. This will provide cold chain, post harvest management facilities. Farmer’s income will also increase. This will benefit farmers’ associations, entrepreneurs and startups.

A plan to provide assistance to 2 lakh micro food units from Rs. 10 thousand crores.

For dairy production

The finance minister said the demand for milk decreased by 2025% in the lockdown. For this, a new scheme has been introduced to provide interest subsidy to dairy cooperatives at the rate of 2% per annum to dairy cooperatives in 202021. Under this scheme, 2 crore farmers will benefit from the additional cash of Rs 5000 crore.

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For fishing

20 thousand crores for Pradhan Mantri Matsya Sampada Yojana. This will enable the development of fishermen. Out of this, 11 thousand crore rupees for marine and inland fisheries, fish production, 9 thousand crores for infrastructure. This will provide employment to 55 lakh people.

For animal husbandry

India leads in livestock countries. The government has brought a plan to vaccinate animals in India. 13343 crores will be spent. This will make 53 crore animal diseases free.
A provision of Rs 15,000 crore has been made in the Animal Husbandry Infrastructure Development Fund.

For herbal farming

A provision of Rs 4,000 crore was made for the promotion of herbal farming. Herbal products will be cultivated in about 10 lakh hectares. 5,000 crores will be income from these farmers. A corridor of medicinal plants will be constructed on an area of ​​800 hectares on the banks of the Ganges.

500 crore will be provided for the development of beekeeping in rural areas. This will benefit about 2 lakh beekeepers.

For vegetable growing farmers

Operation Greens will be expanded from tomatoes, onions and potatoes (TOP) to all fruits and vegetables (TOTAL).

Farmers are only able to sell grain and goods to license holders. Now these obstacles will be overcome. The Essential Commodities Act will be amended to provide better prices to farmers. From this, a framework can be created for barrier-free interstate trade and etreading of agricultural produce.


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