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Budget 2023
Budget 2023

Budget 2021| Big infra, tech push likely for agriculture to boost farmer income

Investments in agri-tech startups or agri-based innovation labs, organic farming, digital tools and technology will give a big boost to the farm sector.

January 31, 2021 / 08:27 AM IST

The ambition to double farmer's income by 2022 continues to be on the government's agenda. Given the coronavirus outbreak and the farmer unrest, there is an increasing expectation that the Budget will focus on the overall wellbeing of farmers and crop productivity.

Following past trends, focus on schemes such as PM Kisan Samman Nidhi, MNREGA and Pradhan Mantri Fasal Bima Yojana will continue to gain traction even this year. Below is a quick outline of some Budget announcements that we can expect for the agriculture sector:

1 Focus on yield improvement

Apart from providing soil health cards to farmers, several efforts could be made to provide adequate water for smart and modern irrigation and advanced farming techniques. We can also expect funds for promoting research, which can improve the yield of major crops. Also, the budget may look to provide support for MSP and allocate additional funds for infrastructure to support the implementation of the new farm laws. Expanded role of e-NAM in supporting farmer incomes and farm laws implementation will be key.