Historic Budget Boost for Agriculture in Telangana’s 2024-25 Budget
Hyderabad, July 25 – In a landmark move, the Telangana state budget for 2024-25 has allocated a record-breaking Rs.72,659 crores for agriculture and allied sectors, underscoring the government’s commitment to prioritizing the welfare of farmers. This allocation is more than double the Rs.26,831 crores allotted in the previous 2023-24 budget, making it the highest budget ever for the agriculture sector in the state’s history.
Major Highlights:
- Loan Waiver:
- A massive Rs.26,000 crores have been set aside for waiving crop loans up to Rs.2 lakhs for farmers.
- By August 15, the state aims to make farmers debt-free, starting with the waiver of loans up to Rs.1 lakh for 11.32 lakh farmers, totaling Rs.60,014 crores.
- Rythu Bharosa Scheme:
- Replacing the Rythu Bandhu scheme, the new Rythu Bharosa scheme will provide Rs.15,075 crores.
- Farmers will receive Rs.15,000 per acre for both monsoon and yasangi crops, directly deposited into their accounts, allowing them to purchase seeds and fertilizers without relying on private moneylenders.
- Insurance for Agricultural Labourers:
- For the first time, Rs.1,200 crores have been allocated for insurance for agricultural laborers.
- Rythu Bima:
- Rs.1,589 crores are allocated for the Rythu Bima scheme, providing a compensation of Rs.5 lakhs to families of deceased farmers.
- From August 15, 2023, to July 19, 2024, 23,629 farmers’ families received Rs.1,124.15 crores.
- Crop Insurance Scheme:
- After a six-year gap, the crop insurance scheme is being reintroduced with an allocation of Rs.1,300 crores.
- Crop Bonus:
- A bonus of Rs.500 per quintal for small paddies, with Rs.1,800 crores allocated for this purpose.
Additional Allocations:
- Rs.11,500 crores for agricultural electricity subsidy.
- Rs.10,829 crores for irrigation of agricultural lands.
- Rs.3,366 crores for the Department of Horticulture, Animal Husbandry, and other schemes.
Breakdown of Specific Allotments in Pragati Paddu:
- Rs.15,470 crores for loan waiver.
- Rs.11,395.50 crores for Rythu Bharosa .
- Rs.981.11 crores for crop insurance.
- Rs.25.47 crores for farm mechanization.
- Rs.1167.92 crores for farmer insurance.
- Rs.646.24 crores for horticulture.
- Rs.106.47 crores for seed supply.
- Rs.18.75 crores for Agricultural University.
- Rs.4.37 crores for Horticulture University.
- Rs.1 crore for Rythu Bandhu Samiti.
- Rs.43.03 crores for farmers’ venues.
- Rs.1,358.46 crores for Market Intervention Fund.
- Rs.3.50 crores for agricultural extension activities.
- Rs.5 crores for Labs Integrated Nutrient Management.
- Rs.905.64 crores for agricultural laborers’ insurance.
- Rs.6.25 crores for Seed Development Corporation.
- Rs.64.58 crores for micro-irrigation.
- Rs.7.50 crores for horticultural activities.
- Rs.117.09 crores for state matching share to central schemes.
- Rs.21.89 crores for the National Food Security Mission.
- Rs.37.50 crores for National Mission Agriculture Extension and Technology.
- Rs.72.12 crores for the RKVY scheme.
- Rs.196.57 crores for centrally sponsored schemes.
- Rs.64.58 crores for horticulture schemes.
- Rs.24.16 crores for the National Horticulture Mission.
Focus on Farmer Welfare
The Telangana budget for 2024-25 has sent a clear signal that the state government is dedicated to supporting farmers. The extensive allocation for agriculture highlights a significant policy shift towards ensuring the financial stability and prosperity of the farming community. The government’s focus on loan waivers, insurance schemes, and direct financial assistance aims to alleviate the financial burden on farmers and encourage sustainable agricultural practices.
Government’s Commitment
Chief Minister Revanth Reddy, during his election campaign, had promised to waive crop loans up to Rs.2 lakhs for farmers. The fulfillment of this promise with a Rs.26,000 crore allocation underscores the government’s commitment to the agricultural sector. By August 15, the state aims to waive off loans for 11.32 lakh farmers, making them debt-free.
New Initiatives
The introduction of the Rythu Bharosa scheme, replacing the previous Rythu Bandhu scheme, is a significant step towards providing direct financial assistance to farmers. With Rs.15,000 per acre allocated, farmers can now invest in quality seeds and fertilizers without resorting to private moneylenders.
For the first time, the state has also allocated Rs.1,200 crores for insurance for agricultural laborers, ensuring that those who toil in the fields are also protected. The reintroduction of the crop insurance scheme after six years with a Rs.1,300 crore allocation demonstrates the government’s readiness to support farmers in times of natural calamities.
Sustainable Agricultural Development
In addition to immediate financial support, the budget also focuses on long-term sustainable agricultural development. Significant allocations have been made for agricultural mechanization, seed development, micro-irrigation, and horticultural activities. These initiatives aim to modernize the agricultural sector, improve productivity, and ensure the overall well-being of the farming community.
Conclusion
The Telangana government’s historic budget allocation for the agriculture sector in 2024-25 is a testament to its commitment to prioritizing farmer welfare and sustainable agricultural development. By addressing the immediate financial needs of farmers and investing in long-term agricultural infrastructure, the government aims to create a resilient and prosperous agricultural sector in the state.
