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 The Interim Budget, presented by Finance Minister Nirmala Sitharaman, on Thursday gives a major thrust to stepping up value addition in the agricultural sector and boosting farmers’ incomes.

The interim budget also proposes to formulate a strategy to achieve ‘atmanirbharta’ (self-reliance) in oilseeds such as mustard, groundnut, sesame, soybean, and sunflower.

The Finance Minister said in her speech that this will cover research for high-yielding varieties, widespread adoption of modern farming techniques, market linkages, procurement, value addition, and crop insurance.

Mentioning the steps being taken to ensure efficient fertiliser use, she said: "After the successful adoption of Nano Urea, application of Nano DAP on various crops will be expanded in all agro-climatic zones."

Terming farmers as “our Annadata”, Sitharaman stated that the minimum support prices for the farm produce are being periodically increased appropriately and direct financial assistance is being provided 11.8 crore farmers every year under PM-KISAN SAMMAN. Besides crop insurance is being given to 4 crore farmers under PM Fasal Bima Yojana.

“Besides, several other programmes are assisting ‘Annadata’ in producing food for the country and the world and added that the worries about food have been eliminated through free ration for 80 crore people,” she added.

Sitharaman said private and public investment would be further promoted in post-harvest activities including aggregation, modern storage, efficient supply chains, primary and secondary processing and marketing and branding to ensure faster growth of the agriculture and food processing sector.

"The sector is poised for inclusive, balanced, higher growth and productivity. These are facilitated from farmer-centric policies, income support, coverage of risks through price and insurance support, promotion of technologies and innovations through start-ups," she said in her speech.

She said that the Pradhan Mantri Formalisation of Micro Food Processing Enterprises Yojana has assisted 2.4 lakh self-help groups and 60,000 individuals with credit linkages.

The Finance Minister added that other schemes are complementing the efforts for reducing post-harvest losses, and improving productivity and incomes. She pointed out that Pradhan Mantri Kisan Sampada Yojana has benefitted 38 lakh farmers and generated employment for 10 lakh people.

She also said that Electronic National Agriculture Market has integrated 1,361 mandis, and is providing services to 1.8 crore farmers with trading volume of Rs. 3 lakh crore.

"These and the provision of basic necessities have enhanced real income in the rural areas. Their economic needs could be addressed, thus spurring growth and generating jobs," the Finance Minister asserted.