The Minister of Finance, Piyush Goyal, announced great benefits for the agricultural and agricultural community in the Interim Budget 2019 presented on Friday morning.
All farmers with less than 2 hectares of land will receive Rs 6000 per year. The amount will be distributed in three installments and transferred directly to the farmers’ bank accounts.
This has ensured that income support for small and marginal farmers has been approved under Pradhan Mantri Kisan Samman Nidhi.
“This initiative will benefit 12 small and marginalized farmers, with an estimated cost of Rs. 75,000 million, which will allow farmers to earn a respectable life,” said Goyal in Lok Sabha.
The allocation to MNREGA has increased to Rs 60,000 crore by 2019-20, said Goyal, who intervened as interim finance minister after Arun Jaitley had to fly to New York for medical treatment.
In addition, he said that the government had spent Rs 1.7 lakh crore to supply food grains at lower prices for the poor in 2018-19 compared to Rs 92,000 crore in 2013-14.
Instead of reprogramming crop loans, all farmers affected by serious natural calamities will receive an interest subsidy of two percent (2%) and an additional interest subsidy of three percent (3%) in case of timely repayment. .
“Farmers’ incomes have doubled, and the fiscal deficit has been reduced to 3.4% in the revised 2018-19 estimate,” said Goyal.
At the beginning of the speech, the interim FM said: “India is firmly on track, we have prepared the foundations for a better growth of life and to move towards growth and prosperity.”