Interim Budget 2019-20 was presented in Parliament by the Union cabinet Minister. He, Shri Piyush Goyal , is for Finance, Corporate Affairs, Railways & Coal Minister. Besides having a large Scheme for the farmers, it provides tax sops and sets the Developmental Agenda for the years to come.
For farmers: Highlights are :
New Scheme- namely “Pradhan Mantri KIsan SAmman Nidhi (PM-KISAN)” to extend direct income support at the rate of Rs. 6,000 per year to farmer families, having cultivable land till 2 hectares is announced.
➢ Farmers having upto 2 hectare of lands will get Rs 6,000 per year in three equal instalments. The scheme will be effective from December 1, 2018.
➢ Rs 6,000 per year assured income support for small and marginal farmers.
➢ Interest subvention for farmer loan takers: Farmers affected by natural calamities to get 2% interest subvention. Apart of it additional 3% interest subvention upon timely repayment.