In his Budget speech, finance minister Piyush Goyal announced a scheme 'Pradhan Mantri Kisan Samman Nidhi' under which Rs 6,000 per year would be provided to farmers holding cultivable land of up to 2 hectares.
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The scheme will have the Rs 6,000 transferred directly to farmers’ accounts in three installments, Goyals had said, adding that the entire cost of Rs 75,000 crore for FY20 will be borne by the central government.
The government believes the PM Kisaan Samman Nidhi programme will meet the "emerging needs of the farmers, especially ahead of the harvest season and help them lead respectable and dignified lives, in the years to come."
Economists expect the income scheme will boost rural consumption. Analysts have started to predict healthy growth for agri-related sectors. FMCG players are bullish about consumption growth going forward.
CNBC-TV18 caught up with Atul Chaturvedi, president, solvent extractors association and director, agro-business at Adani Enterprises; Sudhakar Desai CEO, Emami Agrotech; Sudhakar Tomar, managing director, Hakan Agro DMCC, UAE and Hemant Bansal, assistant VP, Patanjali, to discuss what lies ahead for the agri sector and commodities in this year.