Telangana to plough 20pc funds into farm sector

Hyderabad: State government decided to earmark more than 20 per cent funds to the farming sector in the total budget outlay for 2018-19 financial year. According to which, agriculture sector will get lion share after welfare in the ensuing 2018-19 budget outlay.

In the previous budgets, allocation for agriculture had been at a mere six to eight per cent. The new schemes including, 24-hour free power supply, Rs 8,000 annual incentive to every farmer, promotion of horticulture, food processing industry and construction of cold storage and godowns, were a clear indication for the outlay to the agriculture in the new financial year.

Addressing media at the Secretariat here on Thursday, Finance Minister Eatala Rajender said the government estimated the subsidy on free power supply will be increased to Rs 6,000 crore from the present Rs 4,500 crore in 2018. The requirement of fund for cash incentive scheme will be around Rs 12,000 crore. Government is also planning to introduce some more schemes to promote horticulture and food processing industry in a big way to achieve self-sufficiency in vegetable and fruit production. In 2017-18, the total allocation to farming sector was Rs 8,000 crore only, he said.

The construction of cold storages and godowns were also planned as part of the promotion of agriculture as a profitable profession, the Minister said. The requirement of funds will be more than 20 per cent out of the total outlay to achieve the desired goals, he added. Rajender said after the welfare, agriculture is being given top priority in the allocations in the new financial year. Earlier, Irrigation had been given second priority in the fund allocations, he said.

He clarified that the proposal to introduce Agriculture Budget separately on the budget presentation day will be finalised at the meeting convened by Chief Minister K Chandrashekar Rao to discuss the budget proposals to every sector in February first week.