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Union Budget 2018-19: Focus on making agriculture profitable

Union Budget 2018-19: Focus on making agriculture profitable

Union Budget 2018-19: Focus on making agriculture profitable
February 01
06:06 2018

Here are the highlights of the annual Union budget for 2018-19 presented by Union Finace Minister Arun Jatley in the Lok Sabha on Thursday. This will be the last full budget for the NDA government.

  • Arun Jaitly begins his budget speech. Says his government has implemented fundamental structural reforms in a successful manner so that they help achieve stronger growth.
  • He says the Indian economy will soon become the fifth largest economy in the world and says is well on its way to achive 8 per cent growth. Jaitley says India will grow at rates between 7.2 and 7.5 per cent in the second half of the fiscal year.
  • Government lays emphasis on generation of higher incomes for the farmers. MAJOR ANNOUNCEMENT: The minimum support price would be increased by 1. 5 times that of the production cost. The Government announces Rs 2000 crore for the development of agricultural markets.
  • Government to promote cluster-model approach for agricultural productions. All APMCs to be connected to eNAM network by March 2018.
  • Rs 500 crore for Operation Green, Rs 1400 for food processing sector. Rs 1290 crore for bamboo sector, Rs 10000 crore for fisheries development fund and animal husbandry fund.
  • Kisan Credit Cards to be extended to fisheries, animal husbandry sectors also.

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