Union Budget 2021 Expectations: Here is What to Expect from the Rural Budget Amid Ongoing Farmers' Unrest

Team Latestly
·2-min read

New Delhi, January 27: The Union Budget for the financial year 2021-22 will be presented by Finance Minister Nirmala Sitharaman on February 1. All eyes are set on centre's annual income-expenditure statement as the struggled economy hopes for revival. The expenditure allocated to the rural sector- agriculture and farming- is especially being looked forward amid the massive farmers' protest all over the country against the three farm laws passed by the centre last year.

Also Read | Halwa Ceremony Kickstarts Union Budget 2021 Process, FM Nirmala Sitharaman Launches ‘Union Budget Mobile App’ To Provide Quick Access To Budget Details

Agriculture is the prominent source of livelihood for a large section of the rural household. Many people are directly or indirectly dependent on farming or activities associated with it. An increased governmental expenditure for the development of agriculture and allied activities is expected from the upcoming budget. Development of storage and warehousing facilities is also important for keeping the grains safe till are they delivered to markets. Union Budget 2021: Here is What People Expect from the Health Budget Amid Global COVID-19 Outbreak.

An investment in further developing irrigation facilities to ensure adequate and constant water supply in the fields is also been expected from the budget. In order to ensure technology driven growth in agriculture, budget should apportion a significant chunk of public expenditure. Promotion of farm mechanisation technologies is also anticipated.

Also Read | Budget 2021 IT Slab And Personal Finance Expectations: No Major Deductions Expected, Income Tax Exemption up to Rs 3 Lakh Under Section 80C Likely

Encouraging the use ICT and digital technologies in order to ensure real-time market information and extension services to farmers is also anticipated. A sophisticated network between the rural areas and the markets is also essential. Union Budget 2021: Auto Industry Demands Rationalisation of Tax, Scrappage Policy.

Among other expectations from the budget, easier and quicker loans to small farmers with lenient terms of repayment is the most prominent one. Easing land rules is also expected. Government should also collaborate with the agriculture universities to come-up with innovative and cost effective solutions to the rural problems.

In rural area, allocation of funds for development of healthcare and education sector is expected. Investment in proper housing schemes and sanitation is also being looked forward. Electrifying the rural areas are also being looked forward. Construction of roads for better connectivity to the urban areas is also crucial for rural development.

The Modi-government has promised to double the farmers' income by 2022. Amid the ongoing protest and discontentment among the farmers across the country, expectation of a pro-farmer budget for the fiscal year 2021-22 is high.