Union Budget 2018: Jaitley unrolls budget for rural growth, farmers stand to gain

As Finance Minister Arun Jaitley started disclosing the Modi-government's 2018/19 elected spending plan on Thursday, one thing is clear: The administration is going for more grounded financial development to prevail upon voters in front of a national race one year from now while endeavoring to keep up monetary restriction. 

MSP for Kharif crops To Be 1.5x generation cost 

FM Jaitley started his Speech by emphasizing that the current year's financial plan is country driven and that the legislature is focused on the welfare of ranchers. In like manner, in the spending that he has unrolled, one can see the emphasis strongly fixated on cultivate and non-shape business age.

"Our emphasis is on generating higher income for farmers. India's agricultural output is at record levels due to the effort of our farmers," he said, signalling a paradigm shift from a production-centric budget to one focusing on generating a better income for the farmers.

“We have increased MSP of Kharif crops to 1.5 times the input cost," he said in his budget address. The FM says the current government wants to ensure that the farmer receives at least 50 percent or 1.5 times the price of his input costs while selling his produce. 

Jaitley also added that the government proposes to set up an agricultural market fund of Rs 2,000 crore.