Madhya Pradesh increases agriculture budget in 2024-25

During his first Independence Day speech as Madhya Pradesh's chief minister, Mohan Yadav announced that his government was trying to raise the State's present 4% share of the national economy to 5% in the following five years. The chief minister said in his speech that the Kisan Kalyan Mission would begin on November 1, which is Madhya Pradesh's foundation day. 

Budget Allocation

Compared to the average state expenditure on agriculture (5.9%), Madhya Pradesh has dedicated 6.9% of its overall expenditure to this sector. The State budget for agriculture in 2024–2025 is 15% more than the previous fiscal year. The amount has increased to Rs. 22,193 Cr from Rs. 17,938 Cr. 

 

Provision of 2000 crores for Prime Minister Crop Insurance Scheme

Under the PM Fasal Bima Yojana, Rs 2,000 crore has been set out for crop insurance. Its direct benefit will be given to those farmers whose crops are destroyed due to natural disasters.

Finance Minister Jagdish Devda included a Rs 11,65 crore subsidy for the Atal Agriculture Scheme in the budget as he was presenting the Madhya Pradesh budget to the parliament. In addition, a budgetary request for natural farming was included, totalling Rs 30 crore.  

Target to increase irrigation capacity to 1 crore hectares by 2028-29

Over 80 lakh farmers have received a transfer of Rs 1,664 crore into their accounts under Prime Minister Kisan Samman Nidhi and Chief Minister Kisan Kalyan Yojana. 

CM said a policy has been drafted to collaborate on soil testing with young people who have graduated from agricultural schools. By creating a network of agricultural processing enterprises, quick work is being done to add value to agricultural produce at the local level. 

In order to encourage the production of Srianna, the Rani Durgavati Srianna Protsahan Yojana offers farmers a special incentive payment of Rs 1,000 per quintal. The divisional level is currently working on turning ten nurseries into high-tech facilities.

By 2028–2029, the state's irrigation capacity is expected to reach one crore hectares. In order to relieve cattle farmers from the exploitation of intermediaries, a further allocation of Rs 150 crore has been given in the Chief Minister Co-operative Milk Producer Incentive Scheme for 2024–2025. Gau-Vansh Raksha Year is being celebrated in the state from Chaitra month to next year.

"The budget for the year 2024-25 has been made keeping in view the doubling of the budget size in the next five years, increasing capital investment, expansion of roads, irrigation and electricity facilities, quality health facilities, attracting investment for employment generation and good governance," Devda said in his speech.

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