Budget Infographic | Agriculture sector sees steady rise in allocation

Finance Minister Nirmala Sitharaman presented the Union Budget 2022-23 in Parliament on February 1.

In a bid to tap the allied farm and food processing sectors to boost farmers' incomes, the government on Tuesday proposed higher budget allocation for these two sectors for the next fiscal, besides announcing finance support for startups, promotion of Kisan drones and PPP mode for delivery of high tech agri-services to farmers.

Top bills among sectors were accrued to interest payments and defence sectors while agriculture and allied activities have seen the highest compounded rate of annual growth across the last eight budgets.

Here's a look at budget allocation and the compounded change to different sectors to various ministries since FY16:

The government has raised the farm credit target to Rs 18 lakh crore for 2022-23 from Rs 16.50 lakh crore this fiscal.

Presenting the Union Budget in the Lok Sabha, Finance Minister Nirmala Sitharaman said inclusive development is one of the four priorities of the government moving forward.

The Budget allocation for the Ministry of Agriculture and Farmers' Welfare has been raised marginally by 4.5 per cent to Rs 1,32,513 crore for 2022-23 fiscal.

(With agency inputs)