Finance secretary Ajay Bhushan Pandey has indicated that extra schemes for agriculture growth and infrastructure could also be rolled out in FY22 as the federal government expects to generate Rs 30,000-35,000 crore from the agriculture infrastructure and growth cess launched within the Budget.
While the budgetary allocation for the division of agriculture and cooperation has been lowered by 8% to Rs 1.23 lakh crore for subsequent monetary 12 months from the price range estimate of FY21, there isn’t any new scheme introduced.
“There is a reduction in the additional excise duty, which used to come only to the Centre (not shared with states) after this cess has been introduced. This amount collected through additional excise duty could have been spent on any scheme,” Pandey stated, including, the cash collected by way of the cess might be spent solely on agri infrastructure. A big quantity of this fund (collected by way of the cess) can even go to the states to construct the agriculture infrastructure, which is essential and states can even get the profit.
“There could be many areas like construction of warehouses, food processing facilities, and those could be covered under this programme. Once this cess is there, some more programmes could also be added,” Pandey stated on the Indian Express Idea Exchange. The cess has been imposed at completely different charges after lowering the customs responsibility of a variety of gadgets so that buyers are additionally protected.
With a extra lifelike image rising from farmers’ enrolment knowledge for the PM Kisan Samman Nidhi — solely 10.5 crore have acquired the quantity due after verification an earnings assist of Rs 6,000 per 12 months, towards the federal government’s estimate of 14 crore — the federal government has introduced down the allocation for the scheme to Rs 65,000 crore, from the FY21 BE of Rs 75,000 crore. The authorities has additionally earmarked Rs 900 crore for the Rs 1-lakh crore Agriculture Infrastructure Fund scheme, beneath which credit score might be disbursed at subsidised curiosity.
Minister for agriculture Narendra Singh Tomar had stated final week in Rajya Sabha that the funds gained’t be an issue if extra farmers are registered. So far, solely 10.75 crore farmers have been registered beneath the scheme regardless of finest efforts of the federal government, even because the goal is to cowl as many as 14 crore land-owning farmers. The Centre immediately transfers Rs 6,000/12 months in three equal instalments into the financial institution accounts of PM-Kisan beneficiaries.
The funds for the flagship Pradhan Mantri Kisan Sampada Yojana of the meals processing industries ministry has additionally been lowered by 35% to `700 crore for FY22.