Budgeting for agriculture and food
The Union Budget 2023-24 was presented against the backdrop of some critical geopolitical developments and was the last full budget before the next general elections. Signicantly, 2023 is also the year
The Union Budget 2023-24 was presented against the backdrop of some critical geopolitical developments and was the last full budget before the next general elections. Signicantly, 2023 is also the year
The ruling Bharatiya Janata Party in Gujarat had promised in its 2012 election manifesto that it will build 50 lakh low-cost houses at a cost of Rs.33,000 crore during the next five years, but the very first Budget of the newly-elected Narendra Modi Government has found just about Rs.4,000 crore for the purpose. By common arithmetic, at an average of Rs.4,000 crore a year the estimated allocation for the much-touted project has been slashed to Rs.20,000 crore in five years – as much as Rs.13,000 crore less. “Though even Rs.33,000 crore is less to build that kind of housing infrastructure, the allocation of Rs.4,000 crore this financial year is peanuts,” points out Jayanti Dave, known Gujarat economist and veteran business journalist.
NEW DELHI: The oil and gas industry is hopeful that the budget may treat natural gas on a par with crude oil for tax exemption, which could revive investors' interest in future auction of oil blocks, but it does not see any strong commitment from the government on this matter. "We can only hope, but the finance ministry is adamant that the matter, which is sub judice in various IT appellate tribunals, cannot be resolved through the Finance Bill," a senior executive in an upstream firm said requesting anonymity.
The Gujarat government on Wednesday announced its annual budget for 2013-14, pegged at R1,14,450 crore with an annual development plan of R58,500 crore. The farmer-youth-women centric budget presented by finance minister Nitin Patel has allocated the largest chunk of available resources to social service (R24,586 crore), followed by irrigation and flood control (R12,660 crore), transportation (R5,006 crore), energy (R4,996 crore), industries and mines (R 2,455 crore), agri and allied services (R3,763 crore).
Lucknow: With a total of Rs 17,174 crore allocated for agriculture and allied sectors, UP budget-2013 is all set to shower some bounty on Uttar Pradesh’s farm sector. Last year, when chief minister Akhilesh
Kerala Cabinet granted Rs. 25 crore additionally to the State Road Transport Corporation (KSRTC) on Wednesday to tide over its financial problems. With this the total grants to the KSRTC during this financial year rose to Rs. 100 crore, in addition to the original Budget provisions. The Cabinet authorised Chief Minister Oommen Chandy to appoint a one man commission to study the problems related to backwardness of Nadar community.
The Odisha government presented a separate budget for agriculture and allied sectors with an outlay of Rs 7,161.84 crore for 2013-14 exceeding previous fiscal’s budgetary allocation by 27 per cent. The exclusive budget for the farm sector, unprecedented in the state's history, and second after Karnataka in the country, offers a string of schemes for farmers – Rs 100 crore health insurance under ‘Biju Krushak Kalyan Yojana’, Rs 520 crore under Rashtriya Krishi Vikas Yojana, Rs 290 crore under Jalanidhi and sustainable harnessing of ground water and Rs 42 crore towards input subsidy to farmers.
Presenting a please-all R60,303 crore Budget, Orissa finance minister Prasana Acharya doled out largesses to the voters keeping the assembly election, due in May 2014, in mind Pocket money for youth, free mobiles for farmers, pre-paid sim cards for fishermen, blankets to aged people are what the government has promised in the Budget. Taking a cue from Karnataka, the state government for the first time presented the Budget in two parts—Agriculture Budget Part I and General Budget Part II—in the House.
The Uttar Pradesh government unveiled the Budget for 2013-14 in the state assembly on Tuesday, estimating a total expenditure of Rs 2.21 lakh crore. Mayawati's BSP, the main opposition party, staged a walkout alleging that more than 75% of last year's Budget remained unspent. “The state will move ahead with this budget and the target of making UP ‘Uttam Pradesh’ (excellent state) will be achieved,”Akhilesh told reporters here. "Through this budget, we have made effort to provide maximum benefit to all sections of the society, including farmers, youths, Muslims, women and poor," he said. The Budget, presented by the chief minister Akhilesh Yadav who also hold the finance portfolio,showed a 9.8% increase from last year's size of R2 lakh crore.
Lagging progress in farmer producer firms could lead to start of credit guarantee schemes, with possible equity stake from government To boost small and marginal farmers, the Budget is likely to announce a credit guarantee fund for Farmer Producer Organisations (FPOs), with equity participation by government in such organisations. An FPO is typically a company comprising only farmers and producers but formed under the Companies Act. It is different from a cooperative society, though in most places these are called co-ops.
Tenders Skipped; KRIDCL To Upgrade Roads & Sewerage Bangalore: It’s raining goodies for Bangalore city. With assembly elections round the corner and the city constituting the largest segment with 28 seats, chief minister Jagadish Shettar has quietly approved Rs 300 crore to develop and improve Bangalore’s roads and drainage. Each city MLA has been given Rs 15 crore for civil works. Since calling tenders would delay the award of works, the government has roped in the state-owned Karnataka Rural Infrastructure Development Corporation (KRIDCL), formerly Karnataka Land Army.