Agriculture and allied - Key Features (Union Budget 2016-17)
Focus areas:
• First Pillar is Agriculture - focus on doubling farmers’ income in five years.
• Enhancing expenditure in priority areas of farm and rural sector, social sector, infrastructure sector employment generation.
Agriculture and Farmers’ Wellbeing:
• Thanks to farmers, we can think beyond Food Security. Need to bring income security. Govt. interventions to be reoriented so as to double the income of farmers by 2022.
• Optimal use of water – bring 28.5 lakh hectares under irrigation under mission mode implementation of PMKSY.
• Initial corpus of approx Rs. 20,000 crore under NABARD to create a dedicated Long Term Irrigation Fund.
• Multilateral funding for implementing major programme for sustainable management of ground water resources, estimated cost of Rs. 6,000 crore.
• Soil health card scheme has target to cover all 14 crore farm holdings by March 2017.
• 2000 model retail outlets of Fertilizers to be provided soil and seed testing facilities in 3 years.
• Fertilizer companies to co-market city compost – a policy to convert city waste into compost approved under Swachh Bharat Abhiyan.
• 5 lakh farm ponds and dug wells in rain fed areas to be taken up under MNREGA.
• Creation of 10 lakh compost pits for organic manure to be taken up under MNREGA.
• Promotion of organic farming with Paramparagat Krishi Vikas Yojna (PKVY) and value chain development in North East. Total provision of Rs 412 crore made for both.
• Assigned Rs 500 crore for enhancing production of pulses under National Food Security Mission (NFSM). Number of districts to be covered increased to 622.
• Common e-market platform in wholesale markets for a Unified Agricultural Marketing to be dedicated to Nation on 14-April-2016. States require to amend APMC Acts to join this platform.
• Provision of Rs 19,000 crore made to target adding of 2.23 lakh kms of roads under PMGSY (PM Gram Sadak Yojna) to connect remaining 65,000 habitats by 2019.
• Target for Agricultural credit increased to Rs 9 lakh crore. Provided Rs 15000 crore BE for interest subvention for farmers.
• Provision of Rs 5500 crore made for Pradhan Mantri Fasal Bima Yojana (PMFBY).
• Promoting the use of refrigerated containers, by reducing basic custom duty (BCD) to 5% and excise duty to 6%.
• Promoting pack-houses and ripening chambers – concessional BCD of 5% for ‘cold chain including pre-cooling unit, pack houses, sorting and grading lines and ripening chambers’.
• 100% FDI through FIPB route for marketing of food products that are produced or manufactured in India. To make food trade and processing industry more efficient.
Allied Provisions:
• All remaining villages to be electrified within next 1000 days. As of 23-Feb-2016, a total of 13,000 villages are not electrified.
• 89 irrigation projects languishing under Accelerated Irrigation Benefit Programme (AIBP) to be fast tracked. Ensure 23 of these completed before March 2017.
• Farmers to be encouraged to take up allied activities. Rs 850 crore over next few years for Pasudhan Sanjivini, Nakul Swasthya Patra, E-Pashudhan Haat and National Genomic centre.
• Online Procurement System to be undertaken by FCI. States to be encouraged to take up decentralised procurement.
• To improve efficiency and performance of Krishi Vigyan Kendras (KVKs) - National Level Competition for KVKs with award of Rs 50 lakhs.
• Modernisation of land records with a revamped program from 1-April-2016.
• On the whole, for rural development, total of Rs 87,765 crore provided.
• New ports to be created and works expedited in National Waterways.
• Every new scheme being sanctioned will have a sunset date and outcome review.
• National Centre for Cold-chain Development (NCCD) exempted from Service Tax for its knowledge dissemination activities.
For details on Direct Tax Click Here
Focus areas:
• First Pillar is Agriculture - focus on doubling farmers’ income in five years.
• Enhancing expenditure in priority areas of farm and rural sector, social sector, infrastructure sector employment generation.
Agriculture and Farmers’ Wellbeing:
• Thanks to farmers, we can think beyond Food Security. Need to bring income security. Govt. interventions to be reoriented so as to double the income of farmers by 2022.
• Optimal use of water – bring 28.5 lakh hectares under irrigation under mission mode implementation of PMKSY.
• Initial corpus of approx Rs. 20,000 crore under NABARD to create a dedicated Long Term Irrigation Fund.
• Multilateral funding for implementing major programme for sustainable management of ground water resources, estimated cost of Rs. 6,000 crore.
• Soil health card scheme has target to cover all 14 crore farm holdings by March 2017.
• 2000 model retail outlets of Fertilizers to be provided soil and seed testing facilities in 3 years.
• Fertilizer companies to co-market city compost – a policy to convert city waste into compost approved under Swachh Bharat Abhiyan.
• 5 lakh farm ponds and dug wells in rain fed areas to be taken up under MNREGA.
• Creation of 10 lakh compost pits for organic manure to be taken up under MNREGA.
• Promotion of organic farming with Paramparagat Krishi Vikas Yojna (PKVY) and value chain development in North East. Total provision of Rs 412 crore made for both.
• Assigned Rs 500 crore for enhancing production of pulses under National Food Security Mission (NFSM). Number of districts to be covered increased to 622.
• Common e-market platform in wholesale markets for a Unified Agricultural Marketing to be dedicated to Nation on 14-April-2016. States require to amend APMC Acts to join this platform.
• Provision of Rs 19,000 crore made to target adding of 2.23 lakh kms of roads under PMGSY (PM Gram Sadak Yojna) to connect remaining 65,000 habitats by 2019.
• Target for Agricultural credit increased to Rs 9 lakh crore. Provided Rs 15000 crore BE for interest subvention for farmers.
• Provision of Rs 5500 crore made for Pradhan Mantri Fasal Bima Yojana (PMFBY).
• Promoting the use of refrigerated containers, by reducing basic custom duty (BCD) to 5% and excise duty to 6%.
• Promoting pack-houses and ripening chambers – concessional BCD of 5% for ‘cold chain including pre-cooling unit, pack houses, sorting and grading lines and ripening chambers’.
• 100% FDI through FIPB route for marketing of food products that are produced or manufactured in India. To make food trade and processing industry more efficient.
Allied Provisions:
• All remaining villages to be electrified within next 1000 days. As of 23-Feb-2016, a total of 13,000 villages are not electrified.
• 89 irrigation projects languishing under Accelerated Irrigation Benefit Programme (AIBP) to be fast tracked. Ensure 23 of these completed before March 2017.
• Farmers to be encouraged to take up allied activities. Rs 850 crore over next few years for Pasudhan Sanjivini, Nakul Swasthya Patra, E-Pashudhan Haat and National Genomic centre.
• Online Procurement System to be undertaken by FCI. States to be encouraged to take up decentralised procurement.
• To improve efficiency and performance of Krishi Vigyan Kendras (KVKs) - National Level Competition for KVKs with award of Rs 50 lakhs.
• Modernisation of land records with a revamped program from 1-April-2016.
• On the whole, for rural development, total of Rs 87,765 crore provided.
• New ports to be created and works expedited in National Waterways.
• Every new scheme being sanctioned will have a sunset date and outcome review.
• National Centre for Cold-chain Development (NCCD) exempted from Service Tax for its knowledge dissemination activities.
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| Allocations of Important Ministries, Sectors |
For details on Direct Tax Click Here
