FM’s Third Speech Provides Relief to Farmers
Economic times
May 16, 2020

Finance Minister Nirmala Sitharaman announced the third installment of the Rs 20 lakh crore focused on upgrading farm infrastructure, animal husbandry & fisheries, and government rules.

Finance Minister Nirmala Sitharaman announced the third installment of the Rs 20 lakh crore package yesterday on 15th May. The first and the second installment were announced on 13th and 14th May respectively. In the third installment eleven points were announced. It focused on upgrading farm infrastructure, animal husbandry & fisheries, and government rules. The finance minister said that the three installments aimed at empowering people and businesses in India, to help them become self-sufficient and earn money. 

Let me tell you the 11 points the FM announced: 

  1. One lakh crore fund for strengthening the farming infrastructure like post-harvest storage etc.

  2. Rs. 10,000 crore fund has been created for micro food businesses in India, to increase their business and encourage local businesses. 

  3. The government will launch Pradhan Mantri Matsya Sampada Yojana for the development of marine and inland fisheries. This will help in additional fish production of 70 lakh tons in the next five years and provide employment to 55 lakh people.

  4. Rs 13,343 crore for vaccination of livestock to eradicate foot and mouth disease.

  5. Rs 15,000 crore will be invested for improving the dairy infrastructure and cattle feed.

  6. Rs 4,000 crore for growing of herbal and medicinal plants. Ten lakh hectares of land will be used for growing medicinal and herbal plants. Farmers will get an income of about Rs 5,000 crore.

  7. Rs 500 crore allocated for beekeeping. This will help 2 lakh beekeepers.

  8. Operation Greens is a project by the Ministry of Food Processing Industries to increase the supply of tomato, onion, and potato crops. The government has now announced Rs 500 crore in the scheme and said the scheme will focus on increasing the supply of all vegetables.

  9. It was proposed to amend the Essential Commodities Act to help farmers get a better price for their products. Food including edible oils, oilseeds, pulses, onions, and the potato will be deregulated.

  10. A central law will be formulated to provide farmers with different choices to sell produce at a good price, have a barrier-free inter-state trade and make a framework for e-trading.

  11. The legal framework will be created for farmers to work with companies, large retailers, exporters, etc. in a fair and transparent way.