In the next Union Budget 2022-23, Finance Minister Nirmala Sitharaman is expected to propose agricultural benefits. The measures, focused on overall agriculture sector growth, may help raise farmers’ income, according to The Economic Times.
The federal government’s objective is to assist with investments to enhance value addition and develop backward connections to the farm.
Farmers and the broader community are likely to profit from the next budget on February 1. Particularly given the approaching assembly elections in five states, including Uttar Pradesh and Punjab.
What’s in store for farmers?
Incentives might include export assistance so that the rural community can establish outlets for their products. Marketing, extra transportation, and branding incentives maybe include in the government’s mega- Union Budget 2022-23 incentives for the industry.
There will almost certainly be announcements to bolster the cooperative sector, including a new specialized ministry for the purpose.
The government has also expected to announce Rs 10,900 crore in incentives as part of the production-linked incentive (PLI) plan for food processing.
If the central government announces these incentives, the income of the farmers will significantly increase. The policies would also be consistent with Prime Minister Narendra Modi‘s goal of doubling farmers’ income by 2022.