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Budget 2024: Union Finance Minister Nirmala Sitharaman on Thursday presented the interim Budget and announced plans to increase milk and dairy production in the country. India is the largest milk producer in the world but there is low productivity, she said.
India’s milk production rose 4 per cent to 230. 58 million tonnes in 2022-23. She also said a strategy will be developed for Atmanirbharta for oilseeds production. Efforts of the value addition in the agriculture sector and increasing farmers’ income will be stepped up, the minister said.
“A comprehensive programme for supporting dairy farmers will be formulated. Efforts are already on to control foot and mouth disease. India is the world’s largest milk producer but with low productivity of milch-animals. The programme will be built on the success of existing schemes such as Rashtriya Gokul Mission, National Livestock Mission, and Infrastructure Development Funds for dairy processing and animal husbandry,” she said in her Budget speech.
Sitharaman on implementation of modern farming
Furthermore, the Finance Minister highlighted the implementation of modern farming schemes as a pivotal component of the government’s strategy for the agricultural sector. These schemes are designed to incorporate cutting-edge technologies and best practices, ensuring that farmers have access to advanced tools and methodologies to optimize their agricultural practices.
Sitharaman while presenting her sixth Budget ahead of the Lok Sabha polls, said that the Indian economy has witnessed a profound positive transformation in the last 10 years. She also expressed hope that the good policies and the work done by the Central government will help the BJP return to power for the third consecutive time in a row. “Our young country has high aspirations, pride in its present and hope and confidence for a bright future. We expect that our government based on its stupendous work will be blessed again by the people with a resounding mandate,” Sitharaman said.
What is interim Budget?
An interim budget serves as a provisional financial statement issued by the government, typically presented in an election year. Differing from a complete annual budget, the interim budget is designed to address a shorter timeframe, bridging the gap until a new government is established post-elections.
This budget provides a snapshot of the government’s revenue and spending for a portion of the fiscal year, enabling it to manage its financial obligations until the new administration introduces a comprehensive budget.
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