Home   »   UPSC Syllabus 2024   »   Does the Budget Give the Agriculture...

Editorial of the Day: Does the Budget Give the Agriculture Sector a Boost? (The Hindu Businessline)

The Finance Minister has highlighted seven priorities in Budget 2023-24, including inclusive development, green growth and youth power.

As agriculture is an integral part of inclusive development, the budget gives focus to animal husbandry, dairy and fisheries; setting up digital infrastructure for agriculture; and production of millets.

The focus on the agriculture and allied sectors is reflected in following ways:

  • Creation of digital infrastructure for agriculture: This has been adopted as a public policy measure for the first time.
    • It is likely to promote and support the growth of the agri-tech industry and start-ups, generate market intelligence, and provide improved access to farm inputs.
  • Millet production: A focus on millet production will make India a global hub for millets, and provide not only affordable and nutritious food to consumers but also resilient income to farmers.
  • Promoting farmer producer organizations: The budget has increased the allocation for promoting farmer producer organization.
  • Export of marine products: The duty on key inputs for the domestic manufacture of shrimp feed has been reduced in order to increase exports of marine products.
  • Agriculture credit: Agriculture credit has been hiked with greater emphasis on animal husbandry and fisheries.
  • Primary Agriculture Societies: The allocation for primary agricultural credit societies has been raised, with additional emphasis on digitisation.
  • The allocation for the Department of Agricultural Research has witnessed a significant hike.

Cause of Concern in Budgetary Allocation

  • Department of Agriculture and Farmers’ Welfare: The government has reduced allocation, signifying withdrawal of the Centre from the agriculture sector.
  • Flagship scheme allocation: Rashtriya Krishi Vikas Yojana (RKVY) has seen its allocation reduce by 31.5 per cent this fiscal year.
    • Pradhan Mantri Kisan Samman Nidhi has seen reduction by 11.7 per cent.
    • The National Beekeeping Honey Mission has got no allocation this year.
    • RKVY renewed and the Krishionnati Yojana, which were further disaggregated into oilseeds, digital agriculture, agriculture extension, agriculture marketing etc in 2022-23, have not been acknowledged in this budget.
    • Without disintegration, it becomes a problem to track relative resource allocation among non-cereal crops — oilseeds, pulses and horticultural crops.


  • Even though the Budget includes several proposals that can propel agriculture growth, it does not provide the structural shift that ensures that the sector moves on a path of long-term, sustainable growth.

Sharing is caring!


what is the full form of RKVY?

Rashtriya Krishi Vikas Yojana (RKVY)

Download your free content now!


We have received your details!

We'll share General Studies Study Material on your E-mail Id.

Download your free content now!

We have already received your details!

We'll share General Studies Study Material on your E-mail Id.

Incorrect details? Fill the form again here

General Studies PDF

Thank You, Your details have been submitted we will get back to you.