CONTRIBUTION OF AGRICULTURE IN BUDGET 2006 -2007
CONTRIBUTION OF AGRICULTURE IN BUDGET 2006 -2007
Irrigation: Outlay of Rs.4,500 crore under AIBP in 2005-06, grant
component of Rs.1,680 crore; States expected to spend Rs.2,520 crore
from their resources; outlay for 2006-07 increased to Rs.7,121 crore,
with grant of Rs.2,350 crore; Command Area Development Programme to be revamped to allow participatory irrigation management through water users’ associations; 20,000 water bodies with a command area of 1.47 million hectares identified in the first phase for repair, renovation and restoration; estimated cost Rs.4,481 crore.
Credit: Farm credit increased to Rs.125,309 crore in 2004-05; expected to cross target of Rs.141,500 crore for 2005-06; to increase to Rs.175,000 crore in 2006-07 with addition of 50 lakh farmers; banks asked to open a separate window for self- help groups or joint liability groups of tenant farmers; a one time relief to be granted to farmers who have availed of crop loan from scheduled commercial banks, RRBs and PACS for Kharif and Rabi 2005-06, and amount equal to two percentage points of the borrower’s interest liability on the principal amount up to Rs.100,000, to be credited to his/her bank account before March 31, 2006; Rs.1,700 crore provided for this purpose.With effect from Kharif 2006-07 farmers to receive short-term credit at 7 per cent, with an upper limit of Rs.300,000 on the principal amount;subvention for this to be given to NABARD.
Sanctions under Rural Infrastructure Development Fund (RIDF XI) at Rs.7,301 crore as on January 31, 2006; corpus for RIDF XII to increase to Rs.10,000 crore; specified projects under PPP model to be allowed to access RIDF funds; separate window for rural roads with a corpus of Rs.4,000 crore during 2006-07.
Agricultural Insurance: National Agricultural Insurance Scheme to continu.Plantation Sector: A Special Purpose Tea Fund to be setup, expected contribution of Rs.100 crore in 2006-07. Micro Finance: 801,000 SHGs credit-linked in two years with credit of Rs.4,863 crore disbursed to these SHGs; another 385,000 SHGs to be credit- linked in 2006-07; NABARD to open a line of credit for financing farm production and investment activities through SHGs; Committee to be appointed on Financial Inclusion.
Horticulture and Fisheries: terminal markets to be setup on PPP model-Rs.150 crore earmarked for this in 2006-07 under National Horticulture Mission; Central Institute of Horticulture to be established in Nagaland; National Fisheries Development Board to be constituted.
Irrigation: Outlay of Rs.4,500 crore under AIBP in 2005-06, grant
component of Rs.1,680 crore; States expected to spend Rs.2,520 crore
from their resources; outlay for 2006-07 increased to Rs.7,121 crore,
with grant of Rs.2,350 crore; Command Area Development Programme to be revamped to allow participatory irrigation management through water users’ associations; 20,000 water bodies with a command area of 1.47 million hectares identified in the first phase for repair, renovation and restoration; estimated cost Rs.4,481 crore.
Credit: Farm credit increased to Rs.125,309 crore in 2004-05; expected to cross target of Rs.141,500 crore for 2005-06; to increase to Rs.175,000 crore in 2006-07 with addition of 50 lakh farmers; banks asked to open a separate window for self- help groups or joint liability groups of tenant farmers; a one time relief to be granted to farmers who have availed of crop loan from scheduled commercial banks, RRBs and PACS for Kharif and Rabi 2005-06, and amount equal to two percentage points of the borrower’s interest liability on the principal amount up to Rs.100,000, to be credited to his/her bank account before March 31, 2006; Rs.1,700 crore provided for this purpose.With effect from Kharif 2006-07 farmers to receive short-term credit at 7 per cent, with an upper limit of Rs.300,000 on the principal amount;subvention for this to be given to NABARD.
Sanctions under Rural Infrastructure Development Fund (RIDF XI) at Rs.7,301 crore as on January 31, 2006; corpus for RIDF XII to increase to Rs.10,000 crore; specified projects under PPP model to be allowed to access RIDF funds; separate window for rural roads with a corpus of Rs.4,000 crore during 2006-07.
Agricultural Insurance: National Agricultural Insurance Scheme to continu.Plantation Sector: A Special Purpose Tea Fund to be setup, expected contribution of Rs.100 crore in 2006-07. Micro Finance: 801,000 SHGs credit-linked in two years with credit of Rs.4,863 crore disbursed to these SHGs; another 385,000 SHGs to be credit- linked in 2006-07; NABARD to open a line of credit for financing farm production and investment activities through SHGs; Committee to be appointed on Financial Inclusion.
Horticulture and Fisheries: terminal markets to be setup on PPP model-Rs.150 crore earmarked for this in 2006-07 under National Horticulture Mission; Central Institute of Horticulture to be established in Nagaland; National Fisheries Development Board to be constituted.
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