New Delhi, Feb 01 : To further enhance agricultural financing, the government has raised the loan limit under the modified Interest Subvention Scheme (MIS) for loans via Kisan Credit Cards (KCC) from ₹3 lakh to ₹5 lakh. This will benefit 7.7 crore farmers, including those in fishing and dairy sectors. Additionally, the budget introduces a five-year Cotton Productivity Mission, boosts urea production, and creates a framework to utilize marine resources for economic growth, focusing on coastal regions like Andaman and Lakshadweep.
This move aims to enhance financial support and ensure timely credit access. Additionally, the budget includes measures to boost urea production, with three state-run urea plants in eastern India set to reopen. A new urea plant with an annual capacity of 12.7 lakh metric tonnes will also be established in Namrup, Assam.
This initiative aligns with the government’s goal of reducing import dependency and strengthening domestic fertilizer production. To support cotton farmers, Finance Minister Sitharaman introduced a five-year Mission for Cotton Productivity, aimed at improving yield, sustainability, and promoting extra-long staple cotton. Advanced scientific and technological assistance will be provided to farmers. The initiative is part of the 5F vision—Farm to Fibre to Factory to Fashion to Foreign—designed to boost farmer incomes and ensure a steady supply of high-quality cotton for revitalizing India’s textile industry.
The mission aims to boost farmers’ incomes and ensure a steady supply of premium-quality cotton for the textile industry. Highlighting the potential of marine resources, Finance Minister Sitharaman announced a framework for the sustainable development of fisheries in India’s Exclusive Economic Zone (EEZ) and high seas. Special attention will be given to the Andaman and Nicobar Islands and Lakshadweep to explore untapped marine resources, fostering economic growth and employment in coastal areas. India, the world’s second-largest fish producer, exports seafood worth ₹60,000 crore annually.
