Punjab allocates Rs 14.5 crore for agriculture, allied sectors in upcoming budget

The Punjab Government has allocated Rs 14,524 crore for the agriculture and allied sectors in the next financial year, a 5 per cent increase from last year. Finance Minister Harpal Cheema announced this while presenting the state budget today.

As part of the budget, farmers will be incentivised with Rs 17,500 per hectare to switch to kharif maize cultivation. This initiative will cover 21,000 hectares in Bathinda, Kapurthala, and Gurdaspur districts, benefiting around 30,000 farmers under a central government scheme for ethanol production.

An amount of Rs 115 crore has been earmarked for crop diversification.

The government has committed Rs 60 crore for capital subsidies to support industries transitioning to paddy stubble-based boilers. More than 25 stakeholders have already expressed their interest in utilising over three million tonnes of paddy stubble annually. An amount of Rs 500 crore has been allocated to promote sustainable crop residue management.

A new initiative for promoting natural farming practices will be launched in Amritsar, Shaheed Bhagat Singh (SBS) Nagar, Rupnagar, SAS Nagar (Mohali), and Hoshiarpur districts.

A major initiative for laying extensive underground pipeline network, covering over 38,000 hectares and benefiting 20,000 farmer families, will be undertaken in Sangrur. Additionally, a new project is proposed for the reclamation of waterlogged land in Fazilka district.

An allocation of Rs 149 crore has been made under Krishonnati Yojana to support critical activities like agriculture extension, food security, horticulture, seed development, edible oil production, and digital agriculture.