'Focus on Annadata': What Sitharaman Said on Farmers in Interim Budget 2024-25

Hailing the government's policies, Sitharaman stressed the need of inclusive modernisation in the farming sector.

Presenting the interim Union Budget for FY24-25 on Thursday, 1 February, Union Finance Minister Nirmala Sitharaman said that 'gareeb, mahila, yuva, and annadata' (poor, women, youth, and farmers) are the core focus groups of the Narendra Modi government's economic policies.

Hailing the government's policies on farmers, Sitharaman stressed on the need of inclusive modernisation in the agricultural sector.

Here are the key highlights of her speech from the agricultural sector.

• "The needs of farmers, their aspirations, and their welfare are our highest priority. The country progresses, when they progress. All four require and receive government support in their quest to better their lives. Their empowerment and well-being will drive the country forward," Sitharaman said.

• Sitharaman told the Lower House that crop insurance has been given to four crore farmers under the PM Fasal Bima Yojana. "This assists the annadata in producing food for the country and the world," she said.

• The finance minister further said, "For welfare of our annadata, every year, under PM Kisan Samman Yojana, direct financial assistance is provided to 11.8 crore farmers."

• Stressing on the need for modernisation, Sitharaman said that the Electronic National Agriculture Market has integrated 1361 mandis, and is providing services to 1.8 crore farmers with a trading volume of Rs 3 lakh crore.

• "Pradhan Mantri Kisan Sampada Yojana has benefitted 38 lakh farmers and generated 10 lakh employment. Pradhan Mantri Formalisation of Micro Food Processing Enterprises Yojana has assisted 2.4 lakh SHGs and sixty thousand individuals with credit linkages," she said.

• Sitharaman also said that a strategy will be formulated to achieve ‘atmanirbharta’ for oil seeds such as mustard, groundnut, sesame, soybean, and sunflower. "This will cover research for high-yielding varieties, widespread adoption of modern farming techniques, market linkages, procurement, value addition, and crop insurance," she added.