Finance Minister Nirmala Sitharaman announced significant enhancements for the agricultural sector when she presented the Union Budget for 2023–24. FM stated that the agriculture credit target for FY24 had been raised to Rs 20 lakh crore. Dairy, fisheries, and animal husbandry will be the main topics.
FM also stated that the PM-KISAN program resulted in a cash transfer of Rs. 2.2 lakh crore. From Rs 15.8 lakh crore in FY21, institutional credit in the agricultural sector increased to Rs 18.6 lakh crore in FY22.
Initiatives like PM-KSIAN, PM-Fasal Bima Yojana, and the establishment of an agriculture infrastructure fund have provided the sector with much-needed assistance.
