Sitharaman might give relief to the farmers and the common man by raising the personal income tax threshold for certain categories and upping spending on agriculture
Representational image
Finance minister Nirmala Sitharaman, who will present her the Budget is likely to fulfil many of the promises which were made by the Prime Minister during his toiling poll campaign of the 2019 General Elections.
ADVERTISEMENT
Taking forward the setting up of a separate ministry for fisheries (one of the promises made by Modi), the Budget will have schemes for ushering in a "blue revolution". The BJP's promise of allocation of Rs 10,000 crore for providing infrastructure like storage and marketing for small fishermen is likely to be fulfilled.
For Union Budget 2019 live updates click here
Giving incentives to agriculture exports, launching of national vegetable oil mission, improving flagship crop insurance scheme, massive promotion of Israeli drip irrigation technique and directing major chunk of MNREGA spending on water-related projects are some of the other proposals the government has lined up in the Budget, said sources.
The farmers will be looked after well in the Budget as the government will seek to ensure they get better prices for their produce. The focus of Modi government will be on the water (as underlined in the setting up of a separate Jal Shakti ministry) as the Budget is likely to include a proposal to spend 75 per cent of rural employment guarantee scheme MNREGA allocation on water-related projects as has been the focus in the last five years.
Also read: Budget 2019: Finance Minister Nirmala Sitharaman to present Union Budget today
The national mission on vegetable oil is in line with the efforts to curb huge imports to encourage domestic industry and oilseed growers.
The focus on drip irrigation along with fertigation in the Budget will be the outcome of Prime Minister Modi's close friendship with his Israeli counterpart Benjamin Netanyahu.
Also read: Budget 2019: 10 important points to focus on
Pradhan Mantri Fasal Bima Yojana (Prime Minister's Crop Insurance) scheme will be improved with a likely allocation of Rs 14,000 crore. Proposals for having 10,000 new Farm Producer Organizations (FPOs), a comprehensive plan to bring two crore hectares under micro-irrigation and new agriculture warehouses along national highways are also on the cards, said sources.
It is believed that Sitharaman might give relief to the farmers and the common man by raising personal income tax threshold for certain categories and upping spending on agriculture, healthcare and social sectors.
Whenever a new government is elected, the Parliament convenes for the Budget Session and the newly-sworn in Finance Minister presents the Budget outlook for the first year till February 1.
The 17th Lok Sabha's first session started on June 17.
Catch up on all the latest Crime, National, International and Hatke news here. Also, download the new mid-day Android and iOS apps to get the latest updates
Subscribe today by clicking the link and stay updated with the latest news!" Click here!
