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FM announces Drone Shakti project to promote startups; Rs 2.3 lakh crore set aside for MSP


New Delhi: Finance Minister Nirmala Sitharaman announced Drone Shakti project to promote startups in the country. The Indian economy is in a position to face the challenges posed by the pandemic, FM said on Tuesday while presenting her fourth straight budget.

FM Nirmala Sitharaman said that chemical-free natural farming will be promoted throughout the country with a focus on farmers’ land in 5 km wide corridors along the river Ganga, in the first stage. Procurement of wheat in Rabi season 2021-22 and the estimated procurement of paddy in Kharif season 2021-22 will give cover 1208 lakh metric tonnes of wheat & paddy from 163 lakh farmers& Rs 2.37 lakh crores will be the direct payment of MSP value to their accounts.

The Finance Minister announced ‘Kisan Drones’ for crop assessment, land records, spraying of insecticides expected to drive a wave of technology in agricultural sector. A fund with blended capital raised under co-investment model facilitated through NABARD to finance startups in agriculture & rural enterprises for farm produce value chain. She added that the states will be encouraged to revise syllabi of agricultural universities to meet needs of natural, zero-budget & organic farming, modern-day agriculture.

Also read: Union Budget 2022-23: ‘400 new gen Vande Bharat trains in next three years: Finance Minister

The FM complimented the macro-economic level growth focus with a micro economic level all inclusive welfare focus, promotion of digital economy and fintech, technology enabled development, energy transition and climate action, and relying on virtual cycle staring from private investment with public capital investment helping to crowd in private investment.



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