Govt appropriates 41.4 billion for agriculture sector

KATHMANDU: The government has allocated Rs 41.4 billion for the agriculture sector, leading to an increment by Rs 6.6 billion in agriculture as compared to last FY.

This implies doubling of agricultural production through cooperative, contract and modern farming with investment from of private sector.

The government is looking to achieve self-reliance in agriculture by carrying out sustainable development via means of agricultural modernisation, commercialisation and mechanisation. Barren lands are to be utilised to double agricultural products and lands provided to landless squatters.

Rs 11 billion has been set aside for the subsidy in fertilisers, Rs 3.2 billion has been allocated for each local level under the Prime Minister Agriculture Modernisation Project, while Rs 1 billion has been separated for fiscal transfer for local level to engage unemployed youths and those who have returned home from foreign countries with the outbreak of coronavirus pandemic.

Additionally, Rs 27.9 billion has been appropriated for construction of the national pride irrigation projects.