While this is the last Union Budget before the next cabinet elections, its also the one last stroke Modi can play and has kept everyone open-eyed! Its being speculated that the interim Union Budget scheduled for presentation in the Parliament on February 1 will be dedicated to farmers as a government’s commitment to double farmers’ income by 2022.
Here, we have compiled some of the biggest contenders for the list of proposals that could be considered by the Cabinet or be part of the interim Budget due on Friday.
- The most-attention attracting is a scheme where afixed amount may be transferred directly to farmers’ bank accounts
- The Centre is also looking at some proposals forwaiving off premium for crop insuranceand interest onloans for farmers who pay on time.
- TheArea-Based Income Compensation (ABIC) schemelooks at the difference between actual price and state-mandated minimum support price (MSP) of all farm produce which is to be paid to farmers through a centrally assisted scheme.
- As far as cash support scheme for farm investment is concerned, the Telangana and Odisha models have been minutely studied.
Under ‘Rythu Bandhu’, the Telangana government last year started granting a total of Rs 8,000 per acre per year, covering both Kharif and Rabi seasons for purchase of inputs like seeds, fertilizers, pesticides and other investments.
The ‘Kalia’scheme of Odisha, on the other hand, is meant to provide Rs 10,000 per family per year as assistance for cultivation. This is, however, not linked to the amount of land owned and therefore it will even support share-croppers or cultivators who own little or no land.
- Apart from this, the government is planning to connect 200 agriculturalmandiswithelectronic National Agricultural Mandis (eNAM) this year, to enable farmers to sell their produce hassle-free online.
- The government is also looking to introducea potable soil health check machine.
Big bets are being put and a lot is being speculated as of now. Rest, February 1 will unfurl!
Image Credits – CNBC TV18
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