homeeconomy NewsBudget 2024: Maharashtra farmers seek crop damage compensation and policy reassessment from government
Budget 2024: Maharashtra farmers seek crop damage compensation and policy reassessment from government
As the Modi government gears up for a third term in power, the agricultural community, a significant voting bloc, harbours high expectations. Their hopes encompass initiatives to reduce production costs, secure better crop prices, and expedite the distribution of relief funds.
As the Modi government gears up for a third term in power, the agricultural community, a significant voting bloc, harbours high expectations.
CNBC-TV18's Santia Gora reveals that Maharashtra's farmers are anticipating favourable proposals in the upcoming interim budget on February 1. Their hopes encompass initiatives to reduce production costs, secure better crop prices, and expedite the distribution of relief funds.
Krishna Jadhav, a 33-year-old farmer from Sarole Khurd village in Maharashtra's Nashik district, invested ₹8 lakh in cultivating grapes on his 4-acre land. However, unseasonal rains wreaked havoc, destroying half of his crop. Jadhav and fellow farmers advocate for a reduction in production costs, timely crop damage compensation, and the establishment of processing units.
The swift disbursement of compensation for crop damage is a critical demand, as many farmers have been awaiting overdue payments for more than a year. Additionally, they call for a reassessment of government policies, such as export bans on wheat, non-basmati rice, and onions, which have led to dwindling income streams.
Farmers assert that the government should refrain from imposing multiple export restrictions, grant GST concessions on agricultural products, and guarantee fair prices for their produce.
In 2015, the allocation for the Ministry of Agriculture and Farmer Welfare in the Modi government's first full budget was ₹25,460 crore. This figure increased to just over ₹ 1,38,000 crore in 2022 but saw a slight reduction to ₹1,25,000 crore in the 2023 budget, despite the government's commitment to doubling farmer incomes by 2022.
With the next general elections approaching, farmers hope for government support. However, experts caution that an interim budget may prioritize short-term measures over long-term structural changes.
Pushan Sharma, Director of Research at CRISIL, remarked, "Ten years ago, short-term measures accounted for only 10% of the budget. Last year, it constituted 90%. More emphasis is being placed on short-term measures, providing immediate results and cash in hand for farmers.”
While farmers appreciate short-term measures to alleviate immediate financial concerns, they stress the importance of addressing longstanding issues such as the rollback of export bans and securing better prices for their produce. Another key demand is the swift and efficient implementation of budgetary promises.
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