3 years ago
41 Million 40 crore budget for Agricultural sector
In the budget, the government has increased the amount of insurance premium subsidy to reduce the risk by further expanding the scope of agricultural and livestock insurance.
Announcing the budget for the coming fiscal year, Finance Minister Dr.Yuvaraj Khatiwada informed that the farmers will be provided the facility to pay the premium after the crop is produced.
Last fiscal year, 75 percent of the insurance fee under the crop and livestock insurance program was subsidized.
Khatiwada said that its scope has been extended in the coming fiscal year. He said that arrangements have been made to review the agricultural subsidy at the federal, state and local levels without any duplication.
Finance Minister Dr.Yuvaraj Khatiwada informed that a budget of Rs 950 million has been allocated to provide subsidy to sugarcane growers.
Similarly, the government has allocated Rs 15 million for the production of fruit plants.
A budget of Rs. 500 million has been allocated for technical management of one agriculture and one animal at all local levels.
Finance Minister Khatiwada said that land banks would be established at 300 local levels.
He said that a budget of Rs 500 million has been allocated to invest shares in Bhumi Bank.
The government has stated that the Mahakali Irrigation Project will be listed as a project of national pride.
The government has allocated Rs. 10.25 billion for this project in the coming Fiscal Year.
Similarly, a budget of Rs 2.46 billion has been allocated for the Sunkoshi Marine Irrigation Project.
