Empowering India's Farmers: New Schemes and Initiatives in Budget 2023

Finance Minister Nirmala Sitharaman announced new schemes, boosting the Kisan Credit Card loan limit to Rs 5 lakh, aimed at tackling unemployment and enhancing crop productivity. Programs include 'Rural Prosperity and Resilience', a cotton mission, pulses production push, and a new research ecosystem mission for resilient seeds.

In a major development during the Budget 2023 presentation, Finance Minister Nirmala Sitharaman announced significant initiatives aimed at revitalising the agricultural sector. Key measures include raising the subsidised Kisan Credit Card loan limit to Rs 5 lakh, up from Rs 3 lakh, aimed at boosting rural economies.

The introduction of the Prime Minister Dhan-Dhaanya Krishi Yojana targets 100 agri-districts, focusing on enhancing agricultural productivity through improved infrastructure and diversification. The scheme, expected to impact 1.7 crore farmers, is part of a broader strategy to position agriculture as a central engine for economic growth.

Additional announcements include a 'Rural Prosperity and Resilience' program aimed at addressing rural unemployment. This scheme will focus on creating opportunities for rural women and young farmers. Other initiatives involve boosting self-reliance in pulses production, enhancing cotton productivity, and developing a framework for sustainable fishing.

(With inputs from agencies.)