Indian Union Budget 2023-24: Major boost to agriculture in FM Sitharaman’s budget speech

While presenting the Union Budget 2023-24, Finance Minister Nirmala Sitharaman announced big boosts for the agriculture industry. FM announced that the agriculture credit target increased to Rs 20 lakh cr for FY'24. The focus will be on animal husbandry, dairy and fisheries.

FM further revealed that cash transfer of Rs 2.2 lakh crore was made under the PM-KISAN scheme. Institutional credit in the agriculture sector climbed to Rs 18.6 lakh crore in FY22 from Rs 15.8 lakh crore in FY21.

Much needed support to the sector has been provided by initiatives like PM-KSIAN, PM-Fasal Bima Yojana and forming agriculture infrastructure fund.

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