Page 16 - NIS English 01-15,April 2023

Cover Story Budget Webinar

AGRICULTURE AND CO-OPERATIVES
The goal of overall development by

removing agricultural challenges

Like in the last 9 years, this time too agriculture has been given a lot of importance in
the budget. For the last few years, every budget has been called a 'village, poor and
farmer's budget'. For a long period after independence, the agriculture sector faced
the pressure of scarcity and depended on the world for food security. Today India has
not only become self-sufficient but is also exporting to the world. Whether it is about
self-reliance or exports, our aim should not be limited to rice and wheat only. In the
year 2021-22, about 2 lakh crore rupees were spent only on the import of pulses, value-
added food products, and edible oils, which means this sum of money went outside
the country. If the country becomes self-sufficient in the field of these agricultural
products as well, then this money can reach our farmers. For the last few years,
decisions are being taken in the budget to take these sectors forward...

Budget Proposals

Farmers' loans Rs 60,000 crore
will be increased earmarked for PM
up to Rs. Kisan fund. n Tax exemption on payments made by sugar
20 lakh crore. cooperatives before 2016-17. Due to this, the
sugar cooperative made Rs 10 thousand crore
profit.
n Promotion of open source-based platform in the
agriculture sector. n Announcement of a new sub-component under
the PM Matsya Sampada Yojana at a cost of Rs 6
n Provision of Accelerator Fund for Agri-Tech Startups.
thousand crores.
n New cooperative societies doing manufacturing will get
the benefit of low tax rates. n Indian Institute of Millets Research Hyderabad will
be promoted as a center of excellence with the
n TDS abolished on withdrawal of cooperative societies up aim of making India a global hub of Shree Anna.
to Rs 3 crore.

14 New India Samachar April 1-15, 2023