AreaIndia

Commodity GroupRice

CommodityAll

Date01/02/2017

Policy CategoryProduction

Policy InstrumentBudgetary allocations, production support

DescriptionReaffirmed the Government\'s commitment to double farmer incomes by 2022, as part of its 2017-2018 budgetary allocations. Authorities would additionally aim to raise agricultural credit disbursements to INR 10 trillion (USD 155 billion) in 2017-18, with steps taken to ensure sufficient credit is available to farmers in low irrigated areas, eastern states, Jammu and Kashmir. In addition to doubling allocations to the Long Term Irrigation Fund to INR 400 billion (USD 6 billion), a dedicated Micro Irrigation Fund would be established with an INR 50 billion (USD 773 million) outlay. Efforts to improve productivity through the Soil Health Cards scheme would continue, with the establishment of 1 000 mini soil testing labs by qualified local entrepreneurs. The "Pradhan Mantri Fasal Bima Yojana" crop insurance scheme would also be accelerated by increasing its coverage to 40 percent of cropped area in 2017 and to 50 percent in 2018.

NotesExchange rate as of 1 April 2017.