Odisha agri Budget doles out sops for farmers

Continuing its thrust on farm sector, the Odisha government in its fourth agriculture Budget, proposed a start-up fund for promotion of entrepreneurship in agri-business, agro-based industries and enterprises.

"The state government would launch an agri start-up programme to complement the efforts put in for promotion of agri-entrepreneurship in the state under the capital investment and farm modernisation programmes. Unemployed graduates in agriculture and allied sectors will be motivated to start agro-based enterprises", finance minister Pradip Amat said in his Budget speech.

With an outlay of Rs 13181.89 crore, 21 per cent higher over previous financial year, the Budget focuses on crop diversification from paddy to other cereals like maize and millets, pulses, oilseeds and other high value crops.

It has been planned to provide irrigation to one million hectares (ha) of cultivable land for a period of five years (2014-19), including 257,000 ha in 2016-17. The agriculture Budget has earmarked Rs 100 crore for construction of godowns under the Warehousing Infrastructure Fund of Nabard.

For drought affected farmers, the Budget offers an interest subvention of Rs 227.38 crore over a period of three years for conversion of short-term loan to medium term loan in the aftermath of the drought. It has also been proposed to provide Rs 435.48 crore towards interest subvention to the farmers through the banks and primary agriculture cooperative societies. Farmers availing crop loan of up to Rs 50,000 will have to pay only one per cent interest on timely repayment.

The Budget provides Rs 800 crore as state share of the premium for the existing National Agriculture Insurance Scheme. Besides, Rs 300 crore has been earmarked under the recently launched Pradhan Mantri Fasal Bima Yojana.


Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel