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HOME / ARCHIVES / Vol. 3 No. 4 : April (2021) / Popular Article

Consequence of 2021 Budgeting on Agricultural Sector

Smaranika Mohanty^*

Dept. of Extension Education, College of Agriculture, Odisha University of Agriculture and Technology, Bhubaneswar, Odisha (751 003), India

Rakesh Kumar Pattnaik

Dept. of Fruit Science and Horticulture Technology, College of Agriculture, Odisha University of Agriculture and Technology, Bhubaneswar, Odisha (751 003), India

DOI: NIL

Keywords: Agriculture, Budget, MGNREGA, Subsidy

Abstract

The main aim of this article is to explain the impact of budget allocation in enhancing and restructuring the research and development of agricultural sector. The article is analyzed the budget allocations to agricultural, rural development sectors, food subsidy and fertilizer subsidies and also examined the reforms in these sectors and their likely impacts on the poor and vulnerable sections of the society in rural India. The budgetary allocation to agriculture and rural development was increased by 10 to 12% in Financial Year (FY) 2017-18 compared to 2016-17. There was more emphasis on irrigation under Prime Minister Sinchayi Yojana, market reforms to expand the electronic national agricultural markets, rural affordable housing and Mahatma Gandhi National Rural Employment Guarantee (MGNREGA). The results clearly evaluate that there is a significant impact and relationship among the high budget allocation and agricultural research and development department.