Budget 2016: Jaitley's top 10 gifts for agriculture sector

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New Delhi, Feb 29: Union Finance Minister Arun Jaitley who pesented the Union Budget 2016-17 on Monday, announced a number of initiatives to be taken in the agricultural sector.

A look at Union Budget 2016-17 

Jaitley allocates Rs 38,500 crore for MGNREGA, the highest-ever by the NDA 

Here are 10 top takeaways from Jaitley's Budget of 2016-17:

budget

  • Allocation of Rs 38,500 crore for the MGNREGA (Mahatma Gandhi National Rural Employment Generation Scheme)
     
  • Rs 2.87 trillion grants made to gram panchayats and municipalities, which signified a jump of 228 per cent
     
  • Rs 412 crore devoted for the purpose of organic farming
     
  • Five lakh acres to be brought under organic farming under the Krishi Vikas Yojana in three years
     
  • 28.5 lakh hectares to be brought under irrigation. It will be done under the Pradhan Mantri Krishi Sichai Yojana
     
  • For interest subvention for agri loans, Rs 15,000 crore have been allocated
     
  • Target of agricultural credit raised to Rs 9 trillion----the highest ever
     
  • Under the Nabard, an irrigation fund worth Rs 20,000 crore to be set up
     
  • 89 irrigation projects will be fast-tracked
     
  • Incentive for deepwater gas exploration

     

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