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UP Budget 2024: Yogi Government Allocates Over Rs 7.36 Lakh Crore on Agriculture Focusing Farmers' Welfare

During the presentation of Uttar Pradesh's Budget 2024. Finance Minister Suresh Khanna revealed ambitious agricultural growth plans and financial allocations in UP's annual budget.

KJ Staff
FM Suresh Khanna presented the second budget of the Yogi government's second term, with a focus on farmers' welfare. (Picture Courtesy: www.yogiadityanath.in)
FM Suresh Khanna presented the second budget of the Yogi government's second term, with a focus on farmers' welfare. (Picture Courtesy: www.yogiadityanath.in)

Finance Minister Suresh Khanna presented the second budget of the Yogi Adityanath government's second term, with a focus on farmers' welfare. The budget, exceeding Rs 7.36 lakh crore, outlines various measures aimed at boosting agricultural growth and supporting farmers.

UP Budget 2024: Farmers' Welfare Initiatives

Khanna emphasised the government's commitment to farmers' upliftment, highlighting the lifting of the ban on new private tube well connections in dark zones, directly benefiting around one lakh farmers.

UP Budget 2024: Agricultural Growth Targets

The annual budget for the upcoming financial year sets an ambitious target of a 5.1 percent growth rate for the agriculture sector in Uttar Pradesh. The Finance Minister outlined specific measures to achieve this, including seasonal tariff benefits and temporary power connections for irrigation in the Bundelkhand region.

UP Budget 2024: Financial Support for Farmers

Khanna shared key statistics, including the distribution of 37 lakh Kisan Credit Cards and a compensation payout of Rs 831 crore to 10 lakh insured farmers under the Prime Minister Crop Insurance Scheme. Additionally, Rs 63,000 crore was transferred to the accounts of 2.62 crore farmers through the Pradhan Mantri Kisan Samman Nidhi Yojana (PM KISAN).

Sugarcane Price Payment Records

Highlighting the government's commitment to sugarcane farmers, Khanna noted a record payment of over Rs 2.33 lakh crore to approximately 46 lakh sugarcane farmers. This amount surpassed the combined payments of the previous 22 years by Rs 20,274 crore. Prices for various sugarcane varieties were also increased for the crushing season 2023-2024.

UP Budget 2024: Agricultural Sector Schemes

To propel agricultural growth, the Finance Minister announced three schemes. The State Agricultural Development Scheme and the World Bank-assisted UP Agris Scheme received allocations of Rs 200 crore each. Additionally, Rs 60 crore was earmarked for the installation of automatic weather stations and rain gauges in blocks and panchayats. The Chief Minister Khet Suraksha Yojna, with a provision of Rs 50 crore, was also introduced to enhance farm security.

Electricity Subsidy and PM Kusum Yojana

The budget proposed a substantial allocation of Rs 2,400 crore for providing electricity at concessional rates to private tube wells, marking a 25 percent increase from the current financial year. Furthermore, Rs 449.45 crore was allocated for the implementation of the PM Kusum Yojana, more than double the previous fiscal year's allocation.

As Uttar Pradesh aims for self-sufficiency in food grains and maintains its position as a surplus state, the government's budget reflects a holistic approach towards ensuring the well-being of farmers and fostering agricultural growth.

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