Finance Minister Nirmala Sitharaman’s strategic roadmap paves the way for self-reliance in 0il Seeds, dairy and fisheries, Spearheading Economic Growth

While addressing the interim budget for 2024, Finance Minister Nirmala Sitharaman outlined a strategic vision for achieving self-sufficiency in oil seeds with the ‘Atmanirbhar Oil Seeds Abhiyan’. She emphasised, “Building on the initiative in 2022, a strategy will be formulated to achieve ‘atmanirbharta’ for oil seeds such as mustard, groundnut, sesame, soybean and sunflower. This will cover research for high-yielding varieties, widespread adoption of modern farming techniques, market linkages, procurement, value addition and crop insurance.”

Sitharaman also highlighted the comprehensive approach towards supporting dairy farmers, stating, “Efforts are already on to control foot and mouth disease. India is the world’s largest milk producer but with low productivity of milch-animals. The programme will be built on the success of existing schemes such Rashtriya Gokul Mission, National Livestock Mission and Infrastructure Development Funds for dairy processing and animal husbandry.”

On the fisheries front, the Finance Minister discussed the success of the government’s focus on fisheries, saying, “It was our Government which set up a separate Department for Fisheries realising the importance of assisting fishermen. This has resulted in doubling of both inland and aquaculture production. Seafood export since 2013-14 has also doubled.”

Sitharaman outlined the increased efforts in implementing the Pradhan Mantri Matsya Sampada Yojana (PMMSY), stating, “Implementation of Pradhan Mantri Matsya Sampada Yojana (PMMSY) will be stepped up to: (1) enhance aquaculture productivity from existing 3 to 5 tons per hectare, (2) double exports to Rs1 lakh crore and (3) generate 55 lakh employment opportunities in the near future.” The Finance Minister’s statements underscore a commitment to fostering self-reliance and growth in crucial sectors, aligning with the government’s vision for a resilient and prosperous economy.