Farm markets need to be liberalised, India uplifted 271 mn people out of poverty: FM

PTI, Feb 1, 2020, 12:03 PM IST

New Delhi: Farm markets need to be liberalised and the government is proposing to hand-hold farmers, Finance Minister Nirmala Sitharaman said on Saturday.

Presenting the Budget for 2020-21, Sitharaman said the government is proposing a 16-point action plan to boost agriculture and farmers’ welfare.

Sitharaman said agricultural services need copious investments, and added that the government has insured 6.11 crore farmers under the Pradhan Mantri Fasal Bima Yojna.

“Everything that we do, speak through budget, everything that the government does is for the country,” she said.

In her second Budget presentation, the finance minister said the Budget for 2020-21, is woven around aspirational India, economic development and caring society.

The government aims to achieve seamless delivery of services through digital governance, she added.

“We shall strive to bring ease of living for every citizen,” Sitharaman said.

India is now the fifth largest economy in the world and the Central government debt has reduced to 48.7 per cent of GDP from 52.2 per cent in March 2014, said Finance Minister Nirmma Sitharaman.

Presenting the Union Budget for 2020-21, she said growth of 7.4 per cent was surpassed in 2014-19 with average inflation of 4.5 per cent.

Sitharaman also listed out various welfare schemes like affordable housing, direct benefit transfer (DBT) and Ayushman Bharat.