In order to address the issues perceived in Economic Survey 2015-16, Finance Minister Arun Jaitley announced Budget 2015-16 with a corrective approach. He cut up his fund allocation strategy into 9 Pillars namely Agriculture and Farmer's Welfare,Rural sector,Social sector including healthcare,education,skills and job creation,infrastructure,financial sector reforms,ease of doing business,fiscal discipline and tax reforms to reduce compliance burden.
Agriculture & Farmer's Welfare-
Govt will reorganize its existing agriculture policy.
Analysis : It is, however, a good step towards regulation on commodity market but a significant and effective contribution from states is a must since Agriculture is a state subject as per the seventh schedule of Constitution. Policy should be enforced to make APMC work more effectively ensuring farmers are not exploited by intermediaries and money lenders, It will rejuvenate farming sector in a structural and process based manner.
28.5 lakh hectares to be brought under irrigation. Paramparagat Krishi Vikas Yojana to bring 5 lakh acres under organic farming.
Analysis : Very crucial for states entirely dependent on monsoon. Innovative irrigation methods such as drip irrigation for arid and semi arid regions and watershed management can be used over a large area.
Unified e-platform for farmers to be inaugurated on Ambedkar's birthday.
Analysis : Step towards financial inclusion and Digital India Mission of UG. Exposure of agriculture market on e-platform will bring transparency in food processing industries.
Agricultural credit target of Rs. 9 lakh crore. Govt to allocate Rs 5,500 crore for crop insurance scheme.
Analysis : It will indemnify post harvest losses through PMFBY. However, more emphasis requirement on long term loans and to ensure if it is reaching to intended beneficiary, monitoring should be well maintained.
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Agriculture & Farmer's Welfare-
Govt will reorganize its existing agriculture policy.
Analysis : It is, however, a good step towards regulation on commodity market but a significant and effective contribution from states is a must since Agriculture is a state subject as per the seventh schedule of Constitution. Policy should be enforced to make APMC work more effectively ensuring farmers are not exploited by intermediaries and money lenders, It will rejuvenate farming sector in a structural and process based manner.
28.5 lakh hectares to be brought under irrigation. Paramparagat Krishi Vikas Yojana to bring 5 lakh acres under organic farming.
Analysis : Very crucial for states entirely dependent on monsoon. Innovative irrigation methods such as drip irrigation for arid and semi arid regions and watershed management can be used over a large area.
No doubt, Organic farming will boost up production and yield and is climate friendly and ecologically beneficial. But it is a labor intensive job and requires lot of skills and knowledge by farmer. Apart from fund allocation Govt is supposed to provide more extension workers with adequate skills to get farmers trained.
Unified e-platform for farmers to be inaugurated on Ambedkar's birthday.
Analysis : Step towards financial inclusion and Digital India Mission of UG. Exposure of agriculture market on e-platform will bring transparency in food processing industries.
Analysis : It will indemnify post harvest losses through PMFBY. However, more emphasis requirement on long term loans and to ensure if it is reaching to intended beneficiary, monitoring should be well maintained.
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