Nirmala Sitharaman announces 1 lakh crore agri infrastructure fund to revive Covid-hit economy

During her latest press conference, she announced 11 measures that will focus on agriculture, fisheries, dairy, animal husbandry, some aspects of food processing and allied activities. 

"In a move to strenghten infrastructure in agriculture, financing facility of Rs. 1 lakh crore will be provided for funding Agriculture Infrastructure Projects at farm-gate & aggregation points," she said.

Since PM Narendra Modi announced Rs. 20 lakh crore economic package to support the COVID-19 hammered economy of the country during his national address, the Finance Minister has been addressing press briefings since Wednesday to elaborate details of the package.

In a major announcement, Sitharaman said her government will amend Essential Commodities Act to enable better price realisation for farmers.

"Government will amend Essential Commodities Act to enable better price realisation for farmers," she said.

"Agriculture food stuffs including cereals, edible oils, oilseeds, pulses, onions and potato will be deregulated," she added.

She said the government will implement a scheme for infrastructure development related to Beekeeping.

"It aims to increase income for 2 lakh beekeepers with special thrust on capacity building of women," she said.

"To promote herbal cultivation in India, Government commits Rs 4000 crore; move aims to cover 10 lakh hectare under herbal cultivation in 2 years; corridor of medicinal plants to come up across banks of Ganga," she said.