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India set to raise farm budget by over 15%, biggest increase in six years


//business-finance.news-articles.net/content/202 .. et-by-over-15-biggest-increase-in-six-years.html
Published in Business and Finance on Thursday, January 23rd 2025 at 15:20 GMT by Reuters   Print publication without navigation

  • India plans to increase spending for the agriculture sector by about 15% to around $20 billion in next month's budget, two government sources said, marking the biggest increase in six years, as it tries to boost rural incomes and curb inflation.

India is set to increase its agriculture budget by more than 15% for the fiscal year starting April 1, marking the largest hike in six years, according to government sources cited by Reuters. This increase aims to bolster agricultural infrastructure, support farmers' income, and promote crop diversification. The budget will likely include higher allocations for crop insurance, irrigation, and agricultural research, reflecting the government's commitment to enhancing food security and rural development amidst global economic challenges. This move comes ahead of national elections, highlighting the political significance of the farming sector in India.

Read the Full Reuters Article at:
[ https://www.reuters.com/world/india/india-set-raise-farm-budget-by-over-15-biggest-increase-six-years-2025-01-23/ ]

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