(LiveMint)
Amid expectations that the Narendra Modi government will bring the Indian economy out of a slump by boosting growth, finance minister Nirmala Sitharaman tabled the Union Budget 2020-21 in the Lok Sabha today. While the common man is expecting income tax rate cut, the industry is pinning hopes on bold initiatives to revive economic growth.
- “We will encourage balanced use of all fertilizers, a necessary step to change the incentive regime which encourages excessive use of chemical fertilizers,” FM said.
- FCI and Warehousing Corporation of India to build warehousing facility on their land, says FM
- States asked to adopt 3 central model laws on agri land leasing, marketing and contract farming: FM
- Govt proposes plans to help farmers use proper manure and little water, encourage balanced use of fertilizers: FM
- Sitharaman is listing out 16 actions points one by one.
- Pradhan Mantri Kisan Urja Suraksha and Utthan Mahabhiyan (PM KUSUM) to be expanded to provide 20 lakh farmers in setting up standalone solar pumps.
- Shares of agri-related companies gained after Nirmala Sitharaman said that the government committed to doubling farmers income by 2022. Shares of Mahindra & Mahindra gained 2%, Jain Irrigation 5%, Escirts 1%, Godrej Agrovet 3.5%, Shakti Pumps 7%.
- Budget 2020 proposes solar generation on fallow land to boost farm incomes.
- Sitharaman said the growth of 7.4% was surpassed in 2014-19 with average inflation of 4.5%.
- Over 6 crore farmers under Pradhan Mantri Fasal Bima Yojna have been insured: FM
- Everything that we do, speak through budget, everything that govt does is for country, says FM
- The aim is to achieve seamless delivery of services through digital governance: FM
- India uplifted 271 million people out of poverty: FM
- Farm markets need to be liberalised: FM
