Kerala's Budget Allots Rs 971.71 Crore to Agriculture Sector

On Friday, Kerala finance minister KN Balagopal announced that the state government is giving the agricultural sector special priority, with a total of Rs 971.71 crore set aside for it, while a central assistance payment of Rs 156.30 crores is anticipated out of this.

The overall expenditure for rice development has been increased from the current year's provision of Rs 76 crore to Rs 95.10 crore, he added. Over the years, the amount of land under cultivation has not significantly increased despite Kerala's attempts to support agriculture.

In the budget, the state government has set aside Rs 6 crore for farming techniques based on technology to encourage organic farming. A total of Rs 93.45 crore has been set aside for an extensive development program for vegetable farming.

With a budget of Rs 18.92 crore, fruit farming would be increased with a focus on boosting productivity and production of both domestic and foreign fruits.

As part of the goal, Rs 25 crore is set aside for the purchase of coconut seed nuts, manufacture of coconut seedlings, and distribution of coconut seedlings through farms under the agricultural department. Coconut development projects would receive Rs 68.95 crore.

In addition to the special packages, the Kuttanad region will receive Rs 12 crore for infrastructural development and Rs 17 crore for agricultural sector development. For the marketing, holding, and warehousing of agricultural products, KN Balagopal has allotted Rs 74.50 crore.

The state government of Kerala has also pledged funding to agritech firms that create agricultural value-added goods under the ‘Make in Kerala' program.

Assistance will be offered, including interest subsidy for finding venture funding.