Punjab Budget 2024-25 Highlights: Govt Allocates ₹13,784 Crore for Agri Sector, Focuses on Tubewell Power and Crop Diversification

Punjab, a state known for its rich agricultural heritage, recently unveiled its budget for the upcoming year 2024-25, focusing on strengthening the agriculture sector. With a sizable allocation of funds, the government aims to support farmers and promote sustainable practices to ensure a prosperous future for agriculture in the state. In a bid to boost the agricultural sector, Punjab has allocated a substantial amount of ₹13,784 crore in its budget for the financial year 2024-25.

Here are the key Punjab Budget highlights:

Major Chunk for Tubewell Power:

A significant portion, 67% amounting to ₹9,330 crore, has been earmarked for providing free power to agricultural tubewells. With over 14 lakh tubewells supporting 70% of the agricultural land in the state, this allocation aims to support farmers with essential resources.

Continued Focus on Crop Diversification:

The state government has allocated ₹575 crore towards various crop diversification schemes. These initiatives aim to encourage farmers to diversify their produce, ensuring sustainable agricultural practices and improving soil health and groundwater levels.

Support for Cotton Farmers:

A special initiative called 'Mission Unnat Kisan' has been launched to provide timely extension support to cotton farmers. Additionally, the government has provided a 33% subsidy on cotton seed to around 87,000 farmers in the current financial year.

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Emphasis on Value Addition:

Recognizing the importance of value addition in agriculture, ₹50 crore has been allocated to initiate value-addition projects. This move aims to enhance the value of agricultural products and increase farmers' income.

Boosting Research and Infrastructure:

For the first time in many years, the state government has allocated a grant-in-aid of ₹40 crore to Punjab Agricultural University. This funding is intended to boost research activities and build necessary infrastructure in the university.

Conservation of Soil and Water:

A sum of ₹194 crore has been set aside for the conservation of soil and water in the upcoming year. This includes laying underground pipelines over 13,016 hectares for micro-irrigation, crucial for sustainable water management.

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Horticulture Push:

The budget includes a new initiative called Punjab Horticulture Advancement and Sustainable Entrepreneurship (PHASE). This initiative aims to improve product quality and develop horticulture crop clusters in major production zones. Though specific allocation details were not provided, the scheme will cover development in areas such as mushroom cultivation, flower seed production, exotic vegetables, and fruit orchards.

In conclusion, Punjab's budget for the agriculture sector reflects a comprehensive approach towards addressing the needs of farmers and promoting sustainable agricultural practices. With significant allocations for tubewell power, crop diversification, research, and conservation efforts, the government aims to drive positive change and enhance the prosperity of the agricultural community.

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