Agri Credit Agri Economics Agri-Business Budget FY 2025 Farming Food Processing

Agriculture Ministry gets budget allocation of ₹ 1.27 lakh crore for FY2024–25

Agriculture Ministrybudget allocation FY2024–25

The government has allocated ₹ 1.27 lakh crore to the Ministry of Agriculture for 2024–25, slightly higher than the current fiscal.

According to the budget, the agriculture ministry has been allocated ₹ 1,27,469.88 crore for the fiscal year 2024–25, of which the Department of Agriculture will receive ₹ 1,17,528.79 crore and the Department of Agricultural Research and Education (DARE) ₹ 9,941.09 crore.

According to the current fiscally revised estimates, the Department of Agriculture has been allocated ₹ 1,16,788.96 crore and the DARE ₹ 9,876.60 crore.

According to the budget papers, the Ministry of Consumer Affairs, Food, and Public Distribution has been allocated ₹ 2.13 lakh crore for the next fiscal year, less than 2023–24.

The Department of Consumer Affairs has been allocated ₹ 303.62 crore for 2024–25, up from ₹ 309.26 crore in the current fiscal year.

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The Department of Food and Public Distribution will receive ₹ 2,13,019.75 crore, compared to ₹ 2,21,924.64 crore in the current fiscal year 2023–24. This department has been tasked with providing free foodgrains to over 80 crore people via ration shops. The Ministry of Chemicals and Fertilize₹ has been allocated ₹ 1.68 lakh crore for the fiscal year 2024-25.

The allocation for the fertiliser department under this ministry has been reduced to ₹ 1,64,150.81 crore for the coming fiscal year, down from ₹ 1,88,947.29 crore in the current fiscal year.

The Department of Chemicals and Petrochemicals has been allocated ₹ 139.05 crore for the next fiscal year, compared to ₹ 572.63 crore in the current fiscal year.

However, the allocation for the Department of Pharmaceuticals has been increased to ₹ 4,089.95 crore from ₹ 2,697.95 crore in the current fiscal.

The Ministry of Cooperation, led by Home Minister Amit Shah, has been allocated ₹ 1,183.39 crore for 2024–25, up from ₹ 747.84 crore in FY24.

According to the document, the Ministry of Fisheries, Animal Husbandry, and Dairy has been allocated ₹ 7,105.74 crore for the next fiscal year.

The allocation to the Department of Fisheries has been increased to ₹ 2,584.50 crore in the next fiscal year, up from ₹ 1,701 crore in the current fiscal year 2023–24. The Department of Animal Husbandry and Dairying will receive ₹ 4,521.24 crore in 2024–25, up from ₹ 3,913.93 crore in the current fiscal.

Also Read | Budget 2024: FM Sitharaman could significantly boost farm sector schemes

The Ministry of Food Processing Industries’ allocation has been increased slightly to ₹ 3,290 crore for the next fiscal year, up from ₹ 2,911.95 crore in the current fiscal year.

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