Key facts
- The agriculture ministry's budget for FY27 is Rs 1.4 lakh crore.
- This is a five-fold increase from the Rs 27,663 crore allocated in FY14.
- The government has provided Rs 4.3 lakh crore to farmers under the PM-KISAN scheme.
- Fertiliser subsidy increased to Rs 2.21 lakh crore for FY25.
- Record foodgrain production of 3,577 lakh tonnes was achieved in FY25.
- Over Rs 26 lakh crore worth of crops were procured at MSP in the last 12 years.
The Narendra Modi government has significantly increased the budget for the Ministry of Agriculture and Farmers Welfare, allocating Rs 1.4 lakh crore for the fiscal year 2026-27. This represents a five-fold jump from the Rs 27,663 crore allocated in the 2013-14 fiscal year, marking a substantial commitment to boosting the farm sector and enhancing farmers' incomes over the past 12 years.
Key initiatives highlighted include the distribution of Rs 4.3 lakh crore to farmers under the PM-KISAN scheme, which provides Rs 6,000 annually to eligible farmers. The government has also enhanced the total fertiliser subsidy to Rs 2.21 lakh crore for 2024-25, a considerable rise from Rs 75,000 crore in 2014-15, with a 90% subsidy on urea making retail prices significantly lower than actual costs.
These measures have contributed to record foodgrain production, reaching 3,577 lakh tonnes in 2024-25. Furthermore, the government has procured crops, mainly wheat and paddy, at Minimum Support Price (MSP) worth over Rs 26 lakh crore in the last decade, protecting farmers from market volatility. Agriculture exports have also seen a notable increase, standing at Rs 5 lakh crore in the last fiscal, a 37% rise from FY14 levels.
Additional farmer welfare programs include the PM Fasal Bima Yojana, where 63% of beneficiaries are from SC/ST and OBC categories. The Paramparagat Krishi Vikas Yojana has promoted organic farming across approximately 19 lakh hectares. Social security has been extended to over 25 lakh small and marginal farmers through the PM Kisan Maandhan Yojana, and a digital agriculture mission has created around 11 crore agristack digital IDs for farmers.