On Saturday, Finance Minister Nirmala Sitharaman met with representatives of farmers and agricultural stakeholders during the pre-budget discussions. In this context, farmers have called on the government to offer affordable loans for an extended duration, reduce taxes, and increase the PM-Kisan income assistance. Should the government decide to double the PM Kisan amount in the next budget, over 9 crore farmers will receive direct benefits.
Rs 20,000 crore was deposited into the accounts of 9.4 crore farmers
In October, when the government unveiled the 18th installment, Rs 20,000 crore was deposited into the accounts of 9.4 crore farmers. Several suggestions were thoroughly examined during the two-hour meeting. In this process, various solutions to numerous issues in the agriculture sector, such as financial assistance, market reforms, and strategic investments, were taken into account. Ajay Veer Jakhar, Chairman of Bharat Krishak Samaj, underscored the necessity for focused actions to enhance agricultural productivity and support farmer welfare.
Stakeholders requested GST exclusion for agricultural machinery
The primary requests of the farmers were to lower the interest rate on agricultural loans to one percent and to raise the yearly PM-Kisan installment from Rs 6,000 to Rs 12,000. The stakeholders requested GST exclusion for agricultural machinery, fertilizers, seeds, and medicines in the tax reform proposals.
PHD Chambers of Commerce and Industry asked for a decrease in GST
The PHD Chambers of Commerce and Industry asked for a decrease in GST on pesticides from 18 percent to five percent. Jakhar suggested a focused investment plan of Rs 1,000 crore each year for eight years aimed at particular crops such as chickpea, soybean, and mustard to enhance national agricultural productivity. Bharatiya Kisan Union (BKU) representative Dharmendra Malik called for a thorough evaluation of the Minimum Support Price (MSP) system.