{"id":21718,"date":"2025-01-17T09:56:02","date_gmt":"2025-01-17T09:56:02","guid":{"rendered":"https:\/\/www.selinawamucii.com\/news\/?p=21718"},"modified":"2025-01-17T09:56:40","modified_gmt":"2025-01-17T09:56:40","slug":"agriculture-budget-in-india-sneak-preview-on-rural-spending","status":"publish","type":"post","link":"https:\/\/www.selinawamucii.com\/news\/2025\/01\/17\/agriculture-budget-in-india-sneak-preview-on-rural-spending\/","title":{"rendered":"Agriculture budget in India: sneak preview on rural spending\u00a0"},"content":{"rendered":"\n

The presentation of the agriculture budget in India, probably on February 1, 2025 will mainly focus on rural income.<\/p>\n\n\n\n

Analysts expect Nirmala Sitharaman, the Union Finance minister to focus on easy credit access<\/u><\/a> to rural income earners. <\/p>\n\n\n\n

58% Rural Portion of Urban Spending<\/strong><\/strong><\/h3>\n\n\n\n

According to a preview on Economic Times<\/u><\/a>, the majority rural population of India manages only 58% proportion of urban spending.<\/p>\n\n\n\n

So, the focus of the 2025 agricultural budget could target reducing this gap by raising farmers\u2019 income vis-\u00e1-vis urbanites.<\/p>\n\n\n\n

India\u2019s budget vs. livelihoods<\/strong><\/h3>\n\n\n\n

The spending gap is a slander on agriculture, which in turn is the backbone of the rural population.  As of 2001, around 70%<\/u><\/a> of India\u2019s population lived in the rural areas and 70% of this percentage had a farming livelihood.<\/p>\n\n\n\n

Today, agriculture employs 45% of all people in India, but the sector only contributes 18% in value addition to the economy.<\/p>\n\n\n\n

It all boils down to low agricultural productivity, which is just 12.2% of that in more advanced nations. <\/p>\n\n\n\n

Farming labor productivity in India also underperforms in the gauge of the country\u2019s income group. Local productivity is only 43% of productivity in similar emerging economies.<\/p>\n\n\n\n

Raising Income<\/strong><\/h3>\n\n\n\n

Other than productivity, the budget could also focus on agricultural income, currently susceptible to farm size and weather issues.<\/p>\n\n\n\n

Regarding farms, the government could increase land consolidation to increase small family plots and boost production.<\/p>\n\n\n\n

Weather-wise, 50% of India\u2019s agriculture relies on the Monsoon rains<\/u><\/a>, a reliance that stokes production swings. The budget could address this factor by boosting income chances even outside monsoon months by financing irrigation schemes. <\/p>\n\n\n\n

Start up agri-businesses<\/strong> <\/h3>\n\n\n\n

Another possible beneficiaries of the 2025 agriculture budget are small agri-businesses and manual sectors.<\/p>\n\n\n\n

These sectors have been struggling in tandem with the slow down of the subcontinental economy and might attract financial respite.  Some of the pinpoint entities that could get access to funds include micro-businesses and SMES.<\/p>\n\n\n\n

Thus, the Union agriculture budget in India for 2025 will likely target boosting rural income and household spending. This way it could directly or indirectly back the main economic activity here, namely farming. In recent years, this significant sector has seen a tripling of its budget, as the statistics below indicate.<\/p>\n\n\n\n

Statistics on Agriculture Budget in India<\/strong><\/strong><\/h2>\n\n\n\n

In the past decade, beginning 2012, India\u2019s agricultural budget has grown more than three times. However, agriculture has been receiving a low portion of the total cross-industry budget. For instance,  the 2013-14 fiscal year received 1.3%<\/u><\/a> while the 2017-18 period got 2% of the total budget. <\/p>\n\n\n\n

Have allocations been increasing<\/strong>? <\/p>\n\n\n\n

In the 2017-18 period, the total budget was 576 billion rupees ($6.647 billion) or 3 times that of the 2012-14 equivalent. Between 2014 and 2023, the budget would grow five-fold<\/u><\/a>.  By the 2023-24 budget, the agricultural portion had increased to 1.27 trillion rupees<\/u><\/a> ($14.7 billion). The 2024-25 budget in its part rose by 4.58% year-on-year to 1.32 billion ($15.2 billion) rupees.<\/p>\n\n\n\n

How big is agricultural contribution to India\u2019s economy<\/strong>?<\/p>\n\n\n\n

Agriculture represents 18% <\/u><\/a>of the Gross Domestic Product of India. However, it is the main economic activity of the 69% of India\u2019s population living in rural areas.<\/p>\n\n\n\n

Does th<\/strong>e<\/strong> budget support rural development<\/strong>? <\/p>\n\n\n\n

The first significant budgetary allocation for rural development (RD) was in 2013.  That year, RD allocation improved by 46%<\/u><\/a> while total agricultural budget rose by 22%. In the 2024-25 budget, agricultural allocation increased by 4.58%<\/u><\/a> from the previous year\u2019s total. <\/p>\n","protected":false},"excerpt":{"rendered":"

The presentation of the agriculture budget in India, probably on February 1, 2025 will mainly focus on rural income. Analysts expect Nirmala Sitharaman, the Union Finance minister to focus on easy credit access to rural income earners.  58% Rural Portion of Urban Spending According to a preview on Economic Times, the majority rural population of India manages only…<\/p>\n","protected":false},"author":3,"featured_media":20788,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"yoast_head":"\nAgriculture budget in India: sneak preview on rural spending\u00a0 - Selina Wamucii | Food & Agriculture News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.selinawamucii.com\/news\/2025\/01\/17\/agriculture-budget-in-india-sneak-preview-on-rural-spending\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Agriculture budget in India: sneak preview on rural spending\u00a0 - Selina Wamucii | Food & Agriculture News\" \/>\n<meta property=\"og:description\" content=\"The presentation of the agriculture budget in India, probably on February 1, 2025 will mainly focus on rural income. 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