It is focus on driving water use efficiency in agriculture and supporting organic farming.
These measures are not only aimed at boosting productivity and protecting soil health, but also to curb the indiscriminate use of chemical fertilisers.
The emphasis on expanding the irrigation coverage in the Budget and promoting water use efficiency is reflected in the quantum jump in allocation for the micro irrigation and watershed development schemes at ₹5,300 crore against ₹1,000 crore provided for the Pradhan Mantri Krishi Sinchai Yojana launched last year.
The scheme is aimed at irrigating the field of every farmer and improving water use efficiency to provide "Per Drop More Crop", a pet theme of Prime Minister Narendra Modi. This assumes significance as the depleting ground water table amidst the rising vagaries of monsoon have made the Indian farmer more vulnerable in recent years.
“Our commitment to farmers runs deep. We have already taken major steps to address the two major factors critical to agricultural production: soil and water. An ambitious Soil Health Card Scheme has been launched to improve soil fertility on a sustainable basis. In order to improve soil health, I also propose to support Agriculture Ministry’s organic farming scheme – Paramparagat Krishi Vikas Yojana,” said Finance Minister Arun Jaitley presenting the Budget.
The concept of organic farming in the country is still at a nascent stage, but more farmers are taking to it in recent years on rising demand for organic products.
States, especially those in the North-East, have tremendous potential for development of organic farming.
Also the creation of a Unified National Market found a mention in the Budget once again. “While the farmer is no longer in the clutches of the local trader, his produce still does not command the best national price. To increase the incomes of farmers, it is imperative that we create a national agricultural market, which will have the incidental benefit of moderating price rises. I intend this year to work with the States, in NITI, for the creation of a Unified National Agriculture Market,” he said.
Higher allocationFurther, the increase in credit targets and higher allocation for creation of rural infrastructure is expected to give a fillip to the farm economy.
The Finance Minister has set a farm credit target of ₹8.5 lakh crore for 2015-16.
He has also allocated ₹25,000 crore to the corpus of Rural Infrastructure Development Fund (RIDF) set up in Nabard and ₹15,000 crore for Long Term Rural Credit Fund.
Also, an allocation of ₹45,000 crore for Short Term Cooperative Rural Credit Refinance Fund and ₹15,000 crore for Short Term RRB Refinance Fund has been made in the Budget.