India set to raise farm budget by over 15%, biggest increase in six years
agriculture sector by about 15% to around $20 billion in next month's budget, two government sources said, marking the biggest increase in six years, as it tries to boost rural incomes and curb inflation.
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The additional cash would be directed to developing high-yielding seed varieties, increasing storage and supply infrastructure, and boosting production of pulse crops, oilseeds, vegetables, and dairy products, the sources said.
The sources asked not to be named as they were not authorised to talk to the media.
India's finance and agriculture ministries did not respond to emails seeking comments.
India, the world's second-largest producer of rice, wheat, and sugar, has grappled with high food prices, which surged past 10% year-on-year in October 2024. They have since eased slightly and have averaged over 6% in the last decade.
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