union-budget2016-17As per sources, it has been reported that the Indian Finance Minister, who presented the Union Budget 2016-17 has  indicated that there is an enhancement in the  agricultural credit to Rs.9 lakh crore (around $131 billion) from Rs.8.5 lakh crore ($124 billion)  last year. In this  budget ,a total of Rs.35,984 crore (around $5.2 billion) has been  allotted for agriculture and the  government aims to cover all the 140 million farm holdings in the country under the soil health card scheme by March 2017 and while  the soil health card scheme was introduced in the last budget as revealed by the Minister. Under soil health card scheme, the government will advise farmers on the usage of inputs like fertilizers for different types of soils and for different types of crops after testing the soil in various soil testing labs across the country as it was added by the Minister

During the presentation of the 2016-17 budget, it was also informed that about 200,000 hectares would be brought under organic farming over a period of three years. Further, it was stated that Rs.6, 000 crore (around $874 million) would be allocated for sustainable management of ground water resources too. The Minister announced that Rs.15, 000 crore ($219 million) would be allocated towards interest subvention toShanti Agro Industries Pvt. Ltd. lower burden for farmers and  a Unified Agricultural Marketing e-Platform would be provided for wholesale markets.

LEAVE A REPLY