India's agriculture budget has seen a significant increase under the Narendra Modi government, rising five-fold over 12 years to reach Rs 1.4 lakh crore for the 2026-27 fiscal year, according to a government booklet titled 'Public Service is the Resolve'. This increase is part of efforts to boost the farm sector and enhance farmers' income, marking a substantial rise from Rs 27,663 crore in 2013-14.
Key Initiatives and Support Measures
The government has introduced several initiatives to support farmers, including the release of 3,000 climate-resistant crop varieties between 2014 and 2025. Additionally, 26 crore soil health cards have been issued, aiding farmers in efficient fertiliser use. The PM-KISAN scheme has distributed Rs 4.3 lakh crore to farmers, providing Rs 6,000 annually to eligible farmers in three instalments.
Fertiliser Subsidies and MSP Procurement
To protect farmers, the fertiliser subsidy has increased to Rs 2.21 lakh crore in 2024-25 from Rs 75,000 crore in 2014-15. The urea subsidy is particularly notable, with a 90% subsidy reducing the retail price to Rs 266 per bag, compared to the actual price of Rs 2,200. The government has also procured crops at a minimum support price (MSP) worth over Rs 26 lakh crore in the last 12 years, primarily focusing on wheat and paddy.
Record Production and Export Growth
These measures have contributed to a record foodgrain production of 3,577 lakh tonnes in 2024-25. Furthermore, agriculture exports reached Rs 5 lakh crore last fiscal, a 37% increase from 2013-14 levels.
Insurance, Organic Farming, and Digital Initiatives
The PM Fasal Bima Yojana has covered 63% of farmers from SC/ST and OBC categories. The Paramparagat Krishi Vikas Yojana (PKVY) has promoted organic farming across 19 lakh hectares. Additionally, the digital agriculture mission has created 11 crore agristack digital IDs for farmers, enhancing digital integration in agriculture.
| Initiative | Details |
|---|---|
| Climate-resistant crops | 3,000 varieties released |
| Soil health cards | 26 crore issued |
| PM-KISAN | Rs 4.3 lakh crore distributed |
| Fertiliser subsidy | Rs 2.21 lakh crore in 2024-25 |
| MSP procurement | Over Rs 26 lakh crore |
| Foodgrain production | 3,577 lakh tonnes |
| Agriculture exports | Rs 5 lakh crore |
These developments highlight the Modi government's commitment to strengthening India's agricultural sector, providing a robust safety net for farmers, and enhancing the country's agricultural output and exports.
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