In order to spur agricultural growth, the Finance Minister said the Centre is planning to use new technologies to boost crop yields.   

“The government is committed to achieve four percent farm growth. We will use new technologies to boost crop yield,” he said.

The Finance Minister also announced a financial assistance of Rs five lakh for landless farmers through National Bank for Agriculture and Rural Development (NABARD).

The Finance Minister, who proposed additional three percent interest subsidy on farm loans, pegged the target of Rs eight lakh crore farm credit in fiscal year 2014-15.   

“We have allocated Rs 5,000 crore for farm warehousing plan,” he said.

The Finance Minister said that Rs 50 crore have been set aside for indigenous cattle breed and blue revolution for inland fisheries.

He also set aside Rs 200 crore for setting up of Agriculture Universities in Andhra Pradesh and Rajasthan, and Horticulture Universities in Haryana and Telangana.

(JPN)

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