Income Enhancement Measures
The budget laid out a comprehensive plan to elevate farmers' financial standing. One key aspect was a credit-linked subsidy program specifically for animal
husbandry. Simultaneously, the focus expanded to support the cultivation of high-value crops, especially in coastal regions. This includes initiatives for coconut, cashew, and other crops that can offer higher returns. For instance, a dedicated coconut promotion scheme was proposed to increase productivity by replacing less productive trees with newer, more efficient saplings in major coconut-growing states. These interventions reflect the government's commitment to improving the financial well-being of the farming community and fostering sustainable agricultural practices across India.
High-Value Crop Promotion
The government's strategy also features a focus on boosting the cultivation of several high-value crops to enhance farmer income. Specifically, there's a concerted effort to support farmers of walnuts, almonds, and pinenuts, along with the promotion of sandalwood cultivation through collaborations with state governments. In addition, a special program dedicated to cashew and cocoa is slated for implementation. The intent is to establish self-sufficiency in raw cashew and cocoa production and processing. These measures are designed to enhance the export potential of Indian cashew and cocoa, aiming to transform them into globally recognized premium brands by 2030. The strategy also includes strengthening value addition and branding, showing a comprehensive approach to agricultural development.
Technological and Infrastructural Advancements
Advancements in technology and infrastructure are central to the budget's vision for the agricultural sector. A significant announcement was the launch of ‘Bharat Vistar’, a multilingual AI tool designed to integrate the agri-stack, aiming to streamline agricultural processes. Furthermore, the establishment of ‘She Marts’ was announced, envisioned as community-owned retail outlets to improve market access and support for farmers. This is complemented by the inclusion of banks that now cover 98% of our villages. These steps underscore a commitment to modernizing the sector. The government seeks to harness technological innovations and improve rural infrastructure to ensure that farmers have the resources and support needed to thrive in a competitive market.
Textile Sector Initiatives
Alongside agricultural measures, the budget incorporated several initiatives aimed at revitalizing the textile sector. The National Fibre Scheme was introduced to promote self-reliance in natural fibres such as silk, wool, and jute, along with man-made and new-age fibres. Supporting this initiative is the Textile Expansion and Employment Scheme, aimed at modernizing traditional textile clusters by offering financial backing for machinery upgrades, technology improvements, and setting up common testing and certification centres. In conjunction with this, the National Handloom and Handicraft Programme will integrate and strengthen existing schemes to provide targeted assistance to weavers and artisans. These measures are intended to boost the textile sector by promoting modernization and skill development, contributing to both economic growth and job creation.
Employment and Skill Development
Recognizing the importance of skills, the budget included measures to upgrade the textile skilling ecosystem. The launch of SAMARTH 2.0 reflects a collaboration with industry and academic institutions to facilitate modernization. Additionally, there are other initiatives designed to support employment generation. These programs are closely related to the government’s overarching goal of job creation. It shows a strategic approach that addresses both current economic needs and future industry requirements. The government is committed to modernizing existing industries and establishing new centers of employment. This approach ensures sustained economic growth and the development of a skilled workforce.
Global Competitiveness and Sustainability
The budget placed significant emphasis on improving India's global competitiveness in the textile and apparel sector. The Text-ECON initiative has been designed to support the development of globally competitive and sustainable textiles. This commitment is underpinned by the government's broader vision of promoting ‘Aatmanirbharta’ (self-reliance), domestic manufacturing capacity, and energy security. The budget also seeks to reduce critical import dependencies, further supporting these goals. These efforts aim to enhance India's economic standing, promote sustainable practices, and support the country's economic development through strategic advancements in key sectors. The government's actions aim to ensure long-term, sustainable economic growth.
