Harish proposes Rs 1000 crore allocation for expansion of oil palm cultivation

Finance Minister Harish also announced that crop loan waiver for loans limited to Rs 50,000 would be waived-off by the end of March.

Published: 08th March 2022 03:51 AM  |   Last Updated: 08th March 2022 03:51 AM   |  A+A-

Image used for representation

By Express News Service

HYDERABAD: State government has decided to extend oil palm cultivation to  2.5 lakh acres this year, for which a total outlay of Rs 1,000 crore has been proposed to be allocated by Finance Minister T Harish Rao in the Budget 2022-23 released on Monday.

Harish also announced that crop loan waiver for loans limited to Rs 50,000 would be waived-off by the end of March and that loans up to Rs 75,000 would be waived-off during the next academic year.

Rs 84K cr spent in Agri sector

Proposing a total outlay of Rs 24,254 crore for the agricultural sector, he said that Rs 83,989 crore has been spent for the priority sector after the formation of Telangana, reminding that during the decade which had preceded 2014, only Rs 7,994 crore was spent for agriculture in unified AP. Talking about the progress achieved, he said that while the total area under cultivation was 1.31 crore acres in 2014-15, by 2020-21 the area has increased to 2.09 crore acres across the State. He said that paddy production had increased from 68.17 lakh tonne in 2014-15 to 218.5 lakh tonne now, and that cotton production had increased from 18.47 lakh tonne in 2013-14 to 31.60 lakh tonne presently.

He said that 2,601 agricultural extension officers (AEOs) were appointed across the State and that Rs 572 crore was spent to construct 2,601 Rythu Vedikas. Noting that Rs 50,448 crore was deposited into the accounts of 63 lakh farmers under Rythu Bandhu crop input assistance and that 75,501 agricultural families had claimed Rs 3,775 crore as insurance claims under Rythu Bima scheme. 

7.3 L sheep for beneficiaries 

The Minister proposed Rs 1,000 crore for implementation of the second phase of sheep distribution scheme this year, for which he said that the State government was having a total outlay of Rs 11,000 crore to distribute 7.3 lakh units to be distributed to beneficiaries.  Harish also mentioned that the value of fisheries’ sector had increased from Rs 2,637 crore in 2014, to Rs 5,229 crore presently. He pointed out that growth of agriculture and allied sectors have increased from 4 per cent in 2013-14, to 29 per cent in 2019-20. 


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