Union Budget 2023-2024: A boost to Agri-tech Startup Bhopal
462001.00 Rs
- Location: Bhopal, Bhopal, Madhya Pradesh, India
Union Budget 2023-2024: A Pinnacle for Agri-Tech Entrepreneurship
Extending a substantial lifeline to the Indian agricultural sector and its diligent farmers, Finance Minister Nirmala Sitharaman, in the Union Budget for 2023-24, announced a staggering augmentation in the target allocation for agricultural lending, raising it to an impressive 20 billion rupees.
The budgetary allocations for the Ministry of Agriculture for the fiscal year 2023-24 have surged to a remarkable 1.25 billion rupees, with a pronounced focus on bolstering livestock, dairy, fisheries, and facilitating increased agricultural loans at favorable, subsidized interest rates.
Furthermore, she articulated the government's commitment to inaugurate an Agricultural Accelerator Fund, a beacon of hope for budding entrepreneurs in rural regions, dedicated to infusing innovative and cost-effective solutions into the farming community's repertoire, thereby heralding a new era for Agri-tech Startups.
The primary objective of this fund is to furnish farmers with inventive and cost-efficient remedies to address their predicaments, thereby enhancing the landscape of Agri-tech Startups. This initiative will also usher in avant-garde technologies aimed at optimizing agricultural operations, leading to heightened productivity and profitability.
In her address, the finance minister made a resounding declaration about the forthcoming establishment of an agricultural digital public infrastructure. This infrastructure, designed as an open-source platform adhering to open standards, will foster public benefits of an inclusive nature.
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