Thread by @MyFinBingo

15th May 2020 Finance Minister Nirmala Sitharaman's Press Conference

Today session focusing on agriculture and allied activities

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11 measures will be announced - 8 relates to strengthening infrastructure and 3 relates to Govt and administrative reforms

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The minimum support price purchases to an extent of 74300 crores had taken place during the lockdown period and 18700 crore have been transferred directly to their account through PM Kisan Bima Yojana

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Date extension for fisheries related activities - validity for SIP is extended by 3 months

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Govt to provide 1 lakh crore to build infrastructure.

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1 Lakh crore for Cold Chain, etc strengthening the farm gate infrastructure storage center yards.

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Strengthening the farm Gate infrastructure storage centers yards from where they have to do with this fund for 1 lakh crores been created for private and agricultural entrepreneur startups by procuring from the powers and reaching out with value addition to the Global markets.

For micro sized food enterprises - 10000 crores
It will benefit 2 Lakh enterprises
Different clusters can be used by different state
Focus on organic and nutritious material.

3rd of 8 measures
PM Matsya Sampada Yojana - expected to give employment to 55 Lakh.
Additional fish production of 70 Lakh tonne
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11000 crore for aquaculture and 9000 crore for other related activities for fisheries like for vessels, etc.,

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100% vaccinations of all animals. Total 53 crore animals

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100% vaccination against Foot and Mouth Disease covering 53 crores of cattle and animals

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National Animal Disease Control Program : Rs.13,343 crores allocated

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Animal Husbandry infrastructure Development Fund of Rs. 15,000 crores launched, aim to support private investment in sector : FM

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6th of 8 measure
4000 crore for promotion of medicinal plants and herbal cultivation. This will generate at least 5000 crore income for the farmers.
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Banks of Ganges will be utilised for cultivation of medicinal plants and herbs : FM

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Rs. 500 crores are earmarked for beekeeping initiatives benefiting 2 Lakh bee keepers : FM

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Supply Chain infrastructure for Tomatoes, Potatoes and Onions will be brought back on track with earmarking of Rs. 500 crores : FM

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50% subsidy for farmers against cold storage and storage of farm produce : FM

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Essential Commodities Act : amendment proposed making sure that cereals, onions, potatoes, pulses are to be deregulated.

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Amendment in Essential Commodities Act is an excellent measure of the FM : FinBingo view

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2nd of 3 reforms
This is related to farmers and their Adequate choice to sell his products at his price and no barriers for inter state, restrictions to sell to licensed person - not giving him right to sell his price.
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Governance Reforms : A Central law to allow farmers to sell his produce at attractive prices in market will be brought in.
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Governance Reforms : No interstate barriers and participation e-Trade for farmers through a Central Law.

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Farmers do not have a standard mechanism to be enforced for getting predictable price - government will give certain kinds of assurance.

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Governance Reforms : For farmers, an assured price return on quantity produced shall be ensured and such an assurance shall be given prior to sowing.

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Governance Reforms : Focus on bringing predictability and certainty to the income from farm produce by informing him about the potential earnings prior to the sowing of crops.

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