India is an Agriculture Farm and Welfare Based country and Farmers are Heart in the Indian economy and therefore the government has taken care of both in this Union Budget 2016.
it is very firstly announcing a 0.05% ‘Krishi Vikas Cess’ on all services to fund its ambitious program of agricultural welfare. A fully dedicated irrigation fund worth Rs 20,000 crore to set up under NABARD.
The increased allocation would spend on irrigation, which was given an allocation of Rs 12,517 crore in 2016 over and above the Rs 5,300 crore allocated in 2015.
The following announcement had done in Agriculture farm and welfare:
- Rs 35,984 crore allocated for Agriculture in 2016-17
- Allocation to PM Fasal Bima Yojana for 2016-17 is Rs 5,500 crore
- Nominal premium and highest ever compensation in case of crop loss under the PM Fasal Bima Yojana: FM
- 28 lakh hectares to brought under new farm irrigation plan
- 5 lakh acres to brought under organic farming over a three year period
- Soil health card scheme to implemented with greater vigor, all 14,000 crore Farms to included under it by 2017
- Rs 19000 crore allotted for PMGSY
- Rs 35,984 crore allocated for Agriculture in 2016-17
As per my opinion govt has taken corrective steps to facilitate the Farmers. In addition, they had taken a step ahead toward their responsibility. However, if the farmers will do well then there is a better chances fo business in the country.