Plan Outlay for Agriculture & Cooperation Increased by 18%

The agriculture sector continues to get priority in the new budget also. The Finance Minister Shri Pranab Mukherjee presenting the budgetary proposals for 2012-13 in LokSabha today, announced an increase of 18% in the Plan Outlay for the Department of Agriculture & Cooperation. There is an increase in the allocation from Rs. 17123 crore in 2011-12 to Rs. 20208 crores in 2012-13.

The Finance Minister Shri Mukherjee also announced an increase in the allocation for RashtriyaKrishiVikasYojana (RKVY) from Rs. 7860 crore in 2011-12 to Rs. 9217 crore in 2012-13. Expressing satisfaction at the success of bringing Green Revolution to Eastern India by way of increasing the production and productivity of paddy, the Finance Minister proposed to increase the allocation for this scheme from Rs. 400 crore in 2011-12 to Rs. 1000 crore in 2012-13. Shri Mukherjee informed the House that the States in eastern India have reported additional paddy production of seven million tonnes in Kharif 2011.

Expanding the RashtriyaKrishiVikasYojana, the Finance Minister Shri Mukherjee also proposed to allocate Rs. 300 crore to Vidarbha Intensified Irrigation Development Programme. The new allocation is aimed at bringing in more farming areas under protective irrigation.

Source : Equity Bulls

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