Union Budget 2024-25: A Major Boost for Agriculture, Food Industry, Hospitality, and Rural Development

The Union Budget 2024-25 focuses on strengthening India's agriculture, food processing, hospitality, and rural sectors through new policies, infrastructure development, financial support, and digitalization. Key measures include increased support for farmers, food industry MSMEs, hospitality, food education, and tourism, ensuring economic growth and sustainability.

Agriculture and Farmer Welfare

1. Kisan Credit Card (KCC) Limit Expansion

• The government has enhanced the Kisan Credit Card (KCC) limit by linking it with Jan Samarth and AgriStack portals in five states​.
• This will enable easy access to credit for small farmers, reducing dependency on informal lenders.

2. Boost to Pulses and Oilseeds Production

• ₹551.24 crore has been allocated for pulses, and ₹478.64 crore for oilseeds in 2024-25.
• The goal is to achieve self-sufficiency in pulses by 2027-28, reducing import dependence​.

3. Digital Public Infrastructure (DPI) for Agriculture

• Digital crop surveys have been completed in 436 districts, benefiting 6 crore farmers​.
• The DPI system will map farmers’ land details and crop production over the next three years, helping improve resource allocation.

4. Natural Farming and Bio-Input Resource Centers

• One crore farmers will be trained and certified in natural farming with 10,000 bio-input resource centers​.
• Women-led Krishi Sakhis will support small farmers in shifting to sustainable farming practices.

Food Processing and MSME Support

1. Financial Aid for MSMEs in the Food Industry

• ₹500 crore will be allocated for setting up food irradiation units, helping extend shelf life and improve safety​.
• 100 NABL-accredited food quality and safety testing labs will be established​.

2. E-Commerce Export Hubs

• MSMEs and traditional food artisans will benefit from new e-commerce export hubs, set up under PPP mode​.
• These hubs will provide regulatory support, logistics, and marketing assistance for food exports.

Hospitality and Tourism Industry Development

1. Strengthening Tourism Infrastructure

• Rajgir, Nalanda, and Odisha have been identified for comprehensive tourism development, which will boost the hospitality sector​.
• Vishnupad and Mahabodhi Temple Corridors in Bihar will receive government support for heritage tourism.

2. Street Food and Local Market Development

• 100 weekly street food hubs will be developed in cities under the PM SVANidhi scheme​.
• These hubs will offer hygienic food spaces and help small food vendors expand their businesses.

Food Education and Skill Development

1. Establishment of a Food Technology College in Bihar

• A food technology college will be set up in Bihar as part of regional development plans, ensuring local youth receive specialized education in food processing and safety​.

2. Internship Opportunities for Youth

• 1 crore youth will receive internships in top companies, including sectors like food technology, hospitality, and agribusiness​.
• Interns will receive a ₹5,000 per month stipend and one-time financial assistance of ₹6,000.

Fisheries and Rural Economy Development

1. Shrimp Farming and Export Support

• NABARD will provide concessional finance for shrimp farming and processing, strengthening India's position in global seafood exports​.
• Nucleus Breeding Centers (NBCs) will be set up to improve shrimp production quality.

2. Rural MSME Credit Expansion

• The Mudra loan limit has been raised from ₹10 lakh to ₹20 lakh for MSMEs in the food industry​.
• SIDBI will expand branches to serve 168 MSME clusters, supporting rural food entrepreneurs