B N Tripathi
Union Budget of India is an annual financial statement presented by the Government that details revenue sources and planned expenditures. It serves as a blueprint for economic growth, development, and welfare initiatives, with the Finance Minister prioritizing this sector in the budget as the ‘first engine’ of India’s development.Agriculture contributes around 15-18 percent to GDP and employs over 50 percent of the workforce. Budget allocations support farmers through subsidies, crop insurance, and rural development initiatives. Whereas investments in irrigation, mechanization, and climate-resilient farming enhance productivity, credit access through Kisan Credit Cards ensures financial inclusion. The budget also promotes agri-exports, food processing, and sustainable farming. Strengthening agriculture boosts rural livelihoods, poverty reduction, and economic growth, making it a key focus for the Government’s financial planning and policy decisions.
Focusing on Garib (the poor), Yuva (youth), Annadaata (farmers) and Nari (women), the Union Budget for 2025-26 places a significant emphasis on agriculture, tourism, startups, and financial support to the farmers. It introduces several initiatives aimed at enhancing productivity, sustainability, and economic growth, with a special focus on empowering the poor, youth, farmers, and women.
Despite witnessing unprecedented growth in agricultural productivity after several revolutions, India has over 100 districts with low agricultural yields and limited credit access, restricting farmers’ ability to invest in quality inputs and modern techniques, making the PM Dhan Dhyan Krishi Yojana crucial for their upliftment.For Annadaata (farmers), the PM Dhan Dhyan Krishi Yojana, focuses on boosting productivity, expanding credit facilities, and promoting sustainable farming to improve the livelihoods of farmers. Additionally, the Government has raised the subsidized credit limit for farmers, allowing them to invest in quality inputs and modern technologies, ensuring higher productivity and better income security. The Prime Minister’s Dhan-Dhaanya Krishi Yojana will support 1.7 crore farmers by improving productivity, crop intensity, and access to credit in low-productivity districts, thus enhancing their economic well-being.
India is one of the largest consumers and producers of pulses, contributing nearly 25 percent of global production while being a key source of protein for millions. Pulses not only enhance soil fertility through nitrogen fixation but also play a crucial role in nutritional security and sustainable agriculture. Despite this, the country remains dependent on imports to meet domestic demand. To further support Annadaata, the Mission for Aatmanirbharta in pulses has been launched. This six-year initiative aims at increasing the production of Tur, Urad, and Masoor pulses while ensuring remunerative prices and developing climate-resilient seeds, ultimately benefiting small and marginal farmers.
Additionally, for Annadaata, the Kisan Credit Card (KCC) expansion will benefit farmers, fishermen, and dairy farmers by increasing loan limits to Rs 5 lakh under the Modified Interest Subvention Scheme. Investments in rural infrastructure and market access aim to improve transportation networks, reduce post-harvest losses, and enhance supply chains, ensuring better income for farmers and rural workers.
Further, for Garib (poor) and Annadaata, sustainable fisheries development is another key focus area. The Government plans to tap into India’s vast marine sector, particularly in the Andaman and Lakshadweep Islands, ensuring sustainable fishing practices in the exclusive economic zone and high seas, thereby creating employment opportunities and improving income levels for fishermen.
Beyond agriculture, for Garib and Yuva (youth), the budget promotes agribusiness and rural development. The establishment of a Makhana Board in Bihar aims to enhance production, processing, value addition, and marketing of Makhana, providing income opportunities for local farmers and entrepreneurs. To boost tourism and agritourism, 50 major tourist sites will be developed in collaboration with state governments, generating employment and entrepreneurial avenues for youth and women. Farmers and rural entrepreneurs, particularly Nari, (women) can benefit from MUDRA loans and incentives for homestay development, fostering additional income sources.
For Yuva and Nari, the budget enhances startup support through the expansion of the Credit Guarantee Cover, increasing credit availability from Rs 10 crore to Rs 20 crore with reduced guarantee fees. Additionally, a new Rs 10,000 crore Alternate Investment Fund (AIF) has been introduced to provide financial backing for emerging enterprises, empowering young entrepreneurs and women-led businesses.
The national mission on high-yielding crops is another significant initiative introduced in this budget, aiming to boost farm productivity and ensure food security. This initiative will help in modernizing agriculture for increasing farmers’ income.
Union Budget 2025-26 presents a holistic approach to strengthening agriculture, supporting startups, and boosting rural tourism while prioritizing the needs of Garib, Yuva, Annadaata, and Nari.
By addressing financial access, sustainability, and infrastructure development, these measures aim to enhance productivity, economic resilience, and social equity across key sectors. To fully realize the potential of these initiatives, it is essential to ensure robust implementation strategies and comprehensive outreach programs that effectively engage all targeted beneficiaries.
(The author is Vice Chancellor, SKUAST-Jammu)
Follow our WhatsApp channel
