Agriculture sector budget

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Agriculture sector budget

  1. 2. GUIDED BY PREPARED BY MR. PUSHPINDER JIT SHARMA LECTURER R.I.M.T-REGIONAL SHEEBA YASEEN MANMEET PRADEEP M.B.A – II SEM
  2. 3. DEFINITION OF Union Budget <ul><li>The dictionary meaning of budget is a systematic plan for the expenditure of a usually fixed resource during a given period. </li></ul><ul><li>The  Union Budget of India , referred to as </li></ul><ul><li>the  Annual Financial Statement is the annual </li></ul><ul><li>budget of the Republic of India, presented </li></ul><ul><li>by  Finance Minister of India in Parliament. </li></ul><ul><li> The Union budget is preceded by an Economic Survey which outlines the broad direction of the budget and the economic performance of the country. </li></ul>
  3. 4. Graphical Representation of India’s GDP Composition   
  4. 5. GROSS DOMESTIC PRODUCT GROWTH RATE <ul><li>Economic growth is the increase in value of the goods and services produced by an economy. </li></ul><ul><li>It is conventionally measured as the percent rate of increase in real gross domestic product, or GDP. </li></ul><ul><li>Growth is usually calculated in real terms, i.e. inflation-adjusted terms, in order to net out the effect of inflation on the price of the goods and services produced . </li></ul>
  5. 6. AGRICULTURE SECTOR <ul><li>Agriculture – Backbone Of Indian Economy. </li></ul><ul><li>The Government is giving highest priority to agriculture and allied sector. </li></ul><ul><li>The sector provided employment to 55 per cent of the work force. </li></ul><ul><li>The total geographical area of India is 328.7 million hectares of which 140.3 million hectares is net sown area, while 193.7 million hectares is the gross cropped area </li></ul>
  6. 7. Union Budget 2010-11 The Budget Estimates 2010-11 provides for a total expenditure of Rs. 11,08,749 crore. BUDGET 2010-2011 FOR AGRICULTURAL  GROWTH: Agriculture  sector has been raised by Rs 2185 crore to Rs 12185 crore. A four-pronged strategy 1.  Agricultural production;   2.  Reduction in wastage of produce;   3. Credit support to farmers; and   4. Thrust to the food processing sector.
  7. 8. <ul><li>Union Budget 2011- </li></ul><ul><li>2012 for Agricultural Sector   </li></ul><ul><li>The total expenditure in 2011-12 will be 12.58 trillion rupees. </li></ul><ul><li>The total plan outlay for agriculture & allied sector is to be increased by 19.79% to Rs 147.44 bn. </li></ul><ul><li>The target agricultural credit is proposed to be raised to Rs 4,750 bn in FY12 from Rs 3,750 bn in FY11. </li></ul>
  8. 9. <ul><li>Custom duty reduced from 5% to 2.5% on agriculture based sectors </li></ul><ul><li>Farm credit – Rs. 375000 crores(up by rs.50000 crores) </li></ul><ul><li>Agriculture Credit has been increased from Rs.3,75,000 crores to Rs.4,75,000 crores.  </li></ul><ul><li>National Mission for Sustainable Agriculture </li></ul><ul><li>Mega Food Parks    </li></ul><ul><li>Storage Capacity and Cold Chain </li></ul><ul><li>Union Budget 2011-12 is likely to undertake measures to ease such constraints in the form of reforms in Agriculture & Infrastructure sector. 1. Larger Investments in Agriculture sector, 2. Steps towards reduction in essential commodities hoarding, </li></ul><ul><li>3. Investment in R&D in agriculture. </li></ul><ul><li>4. Irrigation and water management </li></ul><ul><li>5. Related to agriculture inputs </li></ul>
  9. 10. <ul><li>Scarcity of input water. </li></ul><ul><li>Shortage of agricultural labour because of NREGS. </li></ul><ul><li>Shortage of organic manures in spite of rising demand. </li></ul><ul><li>  </li></ul><ul><li>Feed problems of diary and farm animals and poultry birds. </li></ul><ul><li>Mounting overdue of farm loans and failure of cooperatives. </li></ul><ul><li>Climate related crop failures and outbreak of diseases. </li></ul>
  10. 11. <ul><li>Mental trauma of the farm families in combating economic reform. </li></ul><ul><li>Rising cost of living and deficit family budget. </li></ul><ul><li>Uncertainly of the cropping system and changing package of practices. </li></ul><ul><li>Confuse in the channel of marketing aid loss of market during harvesting. </li></ul><ul><li>  </li></ul><ul><li>Widening gap of income between farmers and non-farmers. </li></ul>
  11. 12. <ul><li>Introduction of a powerful supply chain to support the processing and marketing of consumable farm turn out, </li></ul><ul><li>Introduction of advanced technology and infrastructure to assist the conversion of farm produce into a finished value added product an </li></ul><ul><li>Introduction of technology to enhance agricultural turn out. </li></ul>
  12. 13. <ul><li>Benefit of 5% concessional customs tariffs on particular agricultural equipment not created in India </li></ul><ul><li>Tax exemption from central excise tariff on particular equipment for conservation and processing of agriculture and associated sectors </li></ul><ul><li>Service tax exemption on the testing and documentation of agricultural seeds </li></ul><ul><li>Service tax exemption on the transportation of cereals and pulses by rail and road. </li></ul>
  13. 14. <ul><li>An allocation of Rs 10.62 bn for National Horticulture Mission. </li></ul><ul><li>An allocation of Rs 13.50 bn for National Food Security Mission. </li></ul><ul><li>An allocation of Rs 10.00 bn for Macro Management in Agriculture. </li></ul><ul><li>An allocation of Rs 10.00 bn Micro Irrigation. </li></ul><ul><li>An allocation of Rs 9.50 bn for National Agricultural Insurance Scheme </li></ul>
  14. 15. Budget focuses on farm sector: Analysts Budget Conveys strong Signal for Reforms: Pranabh Mukherjee Farm Sector gets Big Boost In Budget : FM Under developed states to benefit from budget 2011-2012. With Inflation at higher rate and cost of living increasing enormously, aam aadmi is expecting a more beneficial budget for savings from this budget

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