Economics
India Allocates $40 Billion to Boost Farm Output, Rural Incomes
- Government focuses on irrigation, warehouses, Fertilizers
- Sitharaman reiterates target to double farmers’ income by 2022
Indian farm labourers plant paddy seedlings in a field on the outskirts of Amritsar.
Photographer: Narinder Nanu/AFP via Getty Images
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India plans to spend 2.83 trillion rupees ($40 billion) next year to boost agricultural production and develop rural areas, Finance Minister Nirmala Sitharaman said in her budget speech on Saturday.
The country needs enough warehouses and cold storage facilities, the minister said in parliament, adding that the government will help in setting up efficient warehouses and implement a village-level storage program. In addition, refrigerated coaches in passenger and freight trains will be added, while efforts will be made to transport farm goods by air.