Top agriculture sector expectations from Nirmala Sitharaman: PM Kisan Samman Nidhi to Kisan Credit Card limit

After Rs 20 lakh crore stimulus package announcement made by Prime Minister Narendra Modi, Finance Minister Nirmala Sitharaman announced various relief measures for the MSME sector yesterday. Today, she is again going to give a further road map for implementation of the massive stimulus package to fight COVID-19 pandemic. Today, she may announce relief measures for the agriculture sector as the sector is expecting some decisive announcements like increase in PM Kisan Sammabn Nidhi benefit from Rs 6,000 to Rs 24,000 per annum, doubling the Kisan Credit Card limit, one year EMI moratorium on all farm loans, etc.

Speaking on why FM Sithaman needs to focus on agriculture sector; Aamar Deo Singh, Head Advisory, Angel Broking said, "The comprehensive range of announcements made by Finance Minister under Aatma Nirbhar package, yesterday, focused on MSME sector, easing of credit flow and liquidity in the financial system, lending a helping hand to industry, kick start production, protect jobs & increase the funds' disposal at the hands of the common man. However, more is expected today too, with the focus now shifting towards Agriculture, which employs more than 50% of the workforce and also, retail traders which form a sizable chunk.  Apart from this, any steps taken to alleviate the sufferings of both industry and masses is more than welcome.”

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On what are the major expectations of the agriculture sector from FM Sitharaman today; Farmer Leader Ch. Pushpendra Singh said, "During Coronavirus lockdown, farmer's income has got hit severely. For ensuring food security of the nation, we need to strengthen the rural economy where farmer's income must be increased."

Pushpendra Singh listed out the following top expectations of the agriculture sector from FM Nirmala Sitharaman:

1] Increase in PM Kisan Samman Nidhi subsidy from Rs 6,000 per annum to Rs 24,000 per annum;

2] Doubling the Kisan Credit Card limit keeping the interest rate at 1 per cent;

3] One year moratorium on all kinds of farm loan;

4] Payment of sugarcane farmers and making arrangement for buying all sugatcane available in the farms;

5] Relief for horticulture farmers;

6] Subsidy on diesel meant for agriculture use as crude prices have gone at a record low;

7] Focus on dairy farmers by ensuring all the surplus marketable milk is purchased by the dairies at the pre-lockdown prices;

8] Ensuring proper supply chain for all agri produced by the farmers;

9] Ration card status to the Aadhaar card of entire rural population; and

10] Allowing MGNREGA labourers to work in the agriculture sector.