Budget 2021: Under Modi Government, Payment To Farmers Under MSP Up By 121 Per Cent For Wheat And By 40 Times For Cotton

The Narendra Modi government increased its payment to farmers under the minimum support price (MSP) mechanism by 121 per cent in the case of paddy, 170 per cent in the case of wheat and over 4,000 per cent in the case of pulses.

“In the case of cotton, payment was up 40 times from Rs 90 crore in 2013-14 to Rs 25,974 crore in 2019-20,” Union Finance Minister Nirmala Sitharaman said, presenting the Budget for 2021-22 fiscal year.

She also announced the setting up of a multi-purpose seaweed farm in Tamil Nadu to encourage seaweed farming. It would help fishermen families in the coastal districts of Tamil Nadu.

Sitharaman also said that the Centre planned to expand the footprint of “Operation Green” in tomato, onion and potato.

The Finance Minister said the target for extending lending in the agriculture sector had been set at Rs 16.5 lakh crore in 2021-22 crore from Rs 15 crore this fiscal.