Union Steel Minister Chaudhary Birender Singh Friday termed the Budget for 2019-20 as a 'Kisaan Budget' saying it reflected the vision of doubling farmer's income.
Finance Minister Piyush Goyal Friday made "historic announcements for our farmers," Singh said and welcomed the Rs 6,000 per year cash support to small and marginal farmers.
"it is a 'Kisaan Budget' and reflects the vision of doubling farmer's income and will help youngsters take up farming as a career as it will no longer be a loss-making business," Singh told PTI.
Seeking to address distress in farm sector, Goyal Friday announced a 2 per cent interest subvention for farmers hit by natural calamities, while offering 3 per cent more to them for timely loan payment.
Goyal, also announced 2 per cent interest subvention for farmers involved in animal husbandry and fishery.
In a bid to provide relief to distressed farm sector, Goyal also announced Rs 6,000 per year cash support to small and marginal farmers that will cost the exchequer Rs 75,000 crore annually.
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Under the scheme called Pradhan Mantri Kisan Samman Nidhi, Rs 6,000 will be transferred into bank accounts of farmers holding up to 2 hectares of land in three equal instalments.
Announcing the scheme during the Budget speech in Lok Sabha, the Finance Minister said it will benefit 12 crore farmers and will be implemented from this fiscal itself.
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