Punjab State Budget 2023-24 Prioritizes Agriculture And Farmers' Welfare
/https%3A%2F%2Fblog.ofbusiness.com%2Fwp-content%2Fuploads%2F2023%2F03%2F7-6.jpg)
Punjab Finance Minister Harpal Singh Cheema presented the state budget for the fiscal year 2023-24 on 10 March 2023, with a focus on agriculture, education, and health sectors. The budget size for this year is Rs 1,96,462 crore, an increase of more than 20%. The effective capital expenditure for the year has been set at Rs 11,727 crore. In this article, we will explore the budget allocation for the agriculture sector.
Increased Agriculture Allocation
The budget for the fiscal year has allocated Rs 13,888 crore for agriculture, a 20% increase. To support the sector, a new policy is to be implemented, along with a revolving fund for buying basmati crop, a special cotton seed scheme and an insurance scheme called Bhaav Antar Bhugtan Yojna with an initial allocation of Rs 15 crore in FY 2023-24.
Schemes For Farmers
Cheema announced several schemes to benefit farmers, such as a market price risk mitigation scheme for the horticulture sector and the solarisation of agricultural pumps. PUNSEED sold traceable seeds, benefiting 50,000 farmers. In addition, 2,574 Kisan Mitras have been appointed to provide extension services in each village, and Rs 125 crore has been allocated for the assistance of Rs 1,500/acre for direct seeding of rice.
MILKFED And Green Punjab Mission Expansion
The budget proposes an allocation of Rs 100 crore to expand MILKFED’s procurement network in villages and to promote its products in both national and international markets. Furthermore, the Green Punjab Mission has been allocated Rs 258 crore to plant one crore saplings in 2023-24, and to develop 151 Nanak Bagichies and 68 Pavittar Van.
Insight
The 2023-24 Punjab state budget is geared towards enhancing the lives of farmers and protecting the environment. Allocations for agriculture have been increased, while new schemes and the expansion of initiatives such as the Green Punjab Mission and MILKFED are set to bring positive changes to the state.
Read more: FCI’s Open Market Sales Of Wheat: A Brief Overview
Suggested Readings
/https%3A%2F%2Fblog.ofbusiness.com%2Fwp-content%2Fuploads%2F2023%2F03%2FParmal-Rice-vs-Basmati-Rice.png)
Parmal Rice vs Basmati Rice – Nutrition, GI and Health Benefits of Indian Varieties
TL;DR: Parmal rice is a non-aromatic, protein-rich variety from Punjab and Haryana with a low glycemic index — making it a practical choice for everyday health-conscious consumption. Basmati offers balanced amino acids, superior aroma, and a medium GI. Indrayani supports digestive health and carries a medium GI. This guide covers the nutritional profiles and GI
/https%3A%2F%2Fblog.ofbusiness.com%2Fwp-content%2Fuploads%2F2026%2F07%2FTemplate-OFb-36.png)
Edible Oil Importers in India: Duties, Supply and Industry Outlook
TL;DR: India’s vegetable oil imports fell 29% year-on-year in June 2026, but cumulative imports between November 2025 and June 2026 remained 6% higher. Lower domestic stocks, slower oilseed crushing and festive-season demand may support stronger imports in the coming months. Palm oil remains India’s largest imported edible oil, while India soybean oil imports have increased
/https%3A%2F%2Fblog.ofbusiness.com%2Fwp-content%2Fuploads%2F2023%2F04%2FTemplate-OFb-44.png)
8 Products Extracted From Sugarcane (Apart From Sugar And Ethanol)
Sugarcane is an incredibly versatile crop, there is a reason why it has been cultivated for thousands of years. It's one of the most popularly cultivated crops across the world, with over 80 countries cultivating it. Part of the reason for its success is its vast array of products that are made from sugarcane. Sugar and ethanol are two products derived from sugarcane and these two products are well known. But that’s not it. There are other products derived from sugarcane as well. In this article, we will describe other derived products derived from sugarcane as well.
/https%3A%2F%2Fd5nfy7n2jvqm2.cloudfront.net%2Fnew-buyer-imgs%2Fcookie.png){kind=small}