Budget 2024: Agri sector bats for exports worth $100 billion, long-term farmer credit; 5 key expectations

Budget 2024: The industry expects higher exports for agriculture; (In Picture: A woman carries firewood in a village in Gujarat). REUTERS/Ahmad Masood

Budget 2024: Finance Minister Nirmala Sitharaman will unveil the first Union Budget of the Modi 3.0 government in July. The upcoming budget is likely to be an extension of the interim budget presented earlier this year in February 2024.

The agriculture growth is expected to grow at six per cent in the current fiscal 2024-25 (FY25). According to most industry bodies, the path forward for India's agricultural sector lies in embracing technology, private sector engagement, market liberalization, efficient resource utilization, and strong infrastructure development.

This requires a joint participatory approach from all concerned stakeholders including the farmers, input vendors, traders, processors and the government. The upcoming Union Budget can be very effective in laying down a comprehensive policy framework and providing a thrust through appropriate fiscal benefits and closely monitoring the action plans, challenges and recommendations.