Balanced Growth-Oriented Budget: Insights by Mr. Vinod Kumar, NBHC
07 February 2025, New Delhi: The Union Budget 2025-26 presents a forward-looking, reform-driven, and growth-oriented framework with a strong emphasis on employment generation, MSMEs, and sustainable agriculture.
Mr. Vinod Kumar, MD & CEO, National Bulk Handling Corporation Pvt. Ltd. (NBHC), stated, “Recognizing agriculture as the primary engine of economic growth, the budget introduces several measures to boost productivity, encourage crop diversity, promote sustainable farming practices, enhance post-harvest storage at the panchayat and block levels, improve irrigation facilities, and expand access to short-term and long-term credit for farmers.”
A significant initiative is the Prime Minister Dhan Dhaanya Krishi Yojana (PM-DDKY), launched in collaboration with state governments. This program aims to enhance productivity and ensure long-term agricultural sustainability by converging existing schemes and implementing targeted measures across 100 districts with low productivity, moderate crop intensity, and below-average credit access.
Mr. Kumar further remarked, “The government has also unveiled a six-year Mission for Aatmanirbharta in Pulses, focusing on Tur, Urad, and Masoor. This mission prioritizes the development of climate-resistant varieties, improvement of protein content, and enhancement of pulse productivity. Additionally, procurement by central agencies like NAFED and NCCF from registered farmers will ensure market stability.”
The establishment of the National Mission for Cotton Productivity is another key highlight, aiming to enhance productivity and promote sustainable cotton production. A special focus on boosting the production of extra-long staple cotton varieties will reduce India’s dependence on imports.
To support the growing Makhana sector, the government has announced the formation of a Makhana Board. This initiative will facilitate increased production, ensure an efficient supply chain, and secure fair prices for Makhana farmers, particularly in Bihar.
The budget also raises the interest subvention limit for Kisan Credit Cards from Rs. 3 lakh to Rs. 5 lakh, providing greater financial support to farmers at affordable rates.
Further, the National Mission on High-Yielding Seeds, promotion of climate-resistant varieties, and the establishment of a Second GenBank to conserve 10 lakh germplasm samples underscore the government’s commitment to agricultural innovation. Mr. Kumar emphasized, “These initiatives are designed to address the growing need for higher productivity and sustainable practices while positioning India as the Food Basket of the World. This vision aligns with the broader goal of achieving Viksit Bharat by 2047.”
Also Read: Budget 2025: A Boost for Farmers, but GST on Inputs Needs Revision – Dr. R.G. Agarwal
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