Impact of union budget 2013-14on the agriculture & external sectors

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Impact of union budget 2013-14 on the agriculture & external sectors

Impact of union budget 2013-14 on the agriculture & external sectors

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  • 1. Agricultural sector & its external factors Impact of Union-Budget 2013-14 on
  • 2. Points to be discussed: • Indian Economy at a glance • Union-budget 2013-14 • Impact on agriculture sector
  • 3. Union-Budget of India  It is the annual financial statement of the country presented by the Finance minister of India.
  • 4. Union-Budget 2013-14:
  • 5. • Agriculture or Primary sector • Industry/Manufacture or Secondary sector • Service or Tertiary sector Sectors of Indian Economy:
  • 6. Impact on Agriculture • ₹ 270.49 bn allocated to the Ministry of Agriculture, an increase of 22% over the RE of current fiscal year. • ₹Allocation of ₹34.15 bn for agricultural research. • For FY14, target of agricultural credit kept at ₹ 7,000 bn. • Interest subvention scheme for short-term crop loans to be continued. • Scheme extended for crop loans borrowed from private sector scheduled commercial banks. • ₹10 bn allocated for bringing Green Revolution to eastern India. • ₹ 5 bn allocated to start a programme of crop diversification that would promote technological innovation and encourage farmers to choose crop alternatives. • Rashtriya Krishi Vikas Yojana and National Food Security Mission provided ₹ 99.54 bn and ₹ 22.50 bn respectively.
  • 7. Continued: • Allocation for Integrated watershed programme increased from ` 30.50 bn in FY13 (BE) to ₹ 53.87 bn in FY14. • Allocation made for pilot programme on Nutri-Farms for introducing new crop varieties that are rich in micro-nutrients. • National Institute of Biotic Stress Management for addressing plant protection issues will be established at Raipur, Chhattisgarh. • The Indian Institute of Agricultural Bio-technology will be established at Ranchi, Jharkhand. • Pilot scheme to replant and rejuvenate coconut gardens implemented in some districts of Kerala and the Andaman & Nicobar Islands extended to the entire state of Kerala. • Matching equity grants to registered Farmer Producer Organization (FPO) upto a maximum of ₹ 1 mn per FPO to enable them to leverage working capital from financial institutions. • A Credit Guarantee Fund to be created in the Small Farmers’ Agri Business Corporation with an initial corpus of ₹1 bn. • National Livestock Mission to be set up and a provision of ` 3.07 bn made for the Mission. • Additional provision of ` 100 bn for National Food Security Act.
  • 8. External factors affecting agricultural sector Environmental Factors Cultural Factors Economic Factors
  • 9. Environment Factor/Physical Factor:  Temperature  Precipitation / Water Supply  Altitude  Wind
  • 10. Socio-Cultural Factors Affecting Farming: Land Tenure Economic Factors Affecting Farming:  Transport  Markets  Technology  Governments
  • 11. Forces Affecting Change in Crop Production Agriculture Drivers of Change for the Industry Growing and Diversified Demand Technology Resource Availability Societal Influences