Budget 2024: Are the Farmers Distressed about Agricultural Allocations in Budget 3.0?

A recurring trend of declining budgetary allocation to agriculture has raised eyebrows. The sector's share in the total budget has dwindled to a mere 3.15%, a significant drop compared to previous years. This contraction in funding is a cause for concern, given the sector's critical role in sustaining millions of livelihoods.

The budget also showcases various initiatives. The push for natural farming, with a target of transitioning one crore farmers, is commendable. The emphasis on developing climate-resilient seed varieties and strengthening the agricultural research ecosystem is a step in the right direction. The focus on infrastructure development, including storage facilities and a vegetable supply chain, is crucial for improving farmers' incomes.

What are the Unfulfilled Expectations of the Farmers?

Despite these positive strides, the budget fell short on some crucial fronts. The Pradhan Mantri Kisan Samman Nidhi allocation remains stagnant, raising questions about its adequacy in providing sufficient income support to farmers. The absence of a concrete MSP guarantee, a long-standing demand, is also a significant omission.

The Mahatma Gandhi National Rural Employment Guarantee Program (MGNREGS) witnessed stagnancy in the budgetary allocations. It is an important flagship program that provides income and security to rural India. A drop of Rs 19,297 crores from last year's expenditure.

What are the Challenges and Opportunities?

While the budget acknowledges the importance of agriculture, its execution will be paramount. Implementing initiatives like natural farming requires robust support systems and adequate resources. The government must address the concerns of farmers regarding MSP and income support to ensure their livelihoods are protected.

The budget's impact on rural distress will depend on how effectively these measures are implemented. While the increased allocation for the sector is a positive sign, monitoring the actual expenditure and its impact on farmers' incomes is essential.

The success of the budget in transforming the agriculture sector will hinge on its ability to balance ambitious goals with practical implementation and adequate financial support.