Budget 2019: Announcements for farmers and rural India

Business

01 Feb 2019

#Budget2019: Piyush Goyal announces direct cash transfer for marginal farmers

On Friday, acting Union Finance Minister Piyush Goyal presented the interim budget in the Parliament amid ruckus from the Opposition.

In an attempt to woo the voters from rural India, the Centre announced thePradhan Mantri Kisan Samman Nidhi scheme.

As part of this program, Rs. 6,000 per year will be deposited directly into bank accounts of farmers having less than 2 hectares of land.

Scheme

Money to be deposited in three installments

Money to be deposited in three installments

About the scheme, Goyal said it will benefit 12 crore small and marginal farmers and the cost is estimated at around Rs. 75,000 crore.

The money will be deposited into the accounts in three installments, said Goyal.

Goyal added it was important to save the marginalized farmers from the clutches of moneylenders. He said the government was committed to uplifting farmers.

Rural sector

As expected, government announces big-ticket reforms for rural sector

Goyal also said 22 crops came under Minimum Support Price which helped in doubling the income of the farmers.

While saying villages have first rights on the country's resources, Goyal informed Centre has allocated Rs. 60,000 crore for MGNREGA.

"The first right on the nation's resources goes to the poor and if needed more funds will be given for MGNREGA," Goyal added.

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