PICS: Jaitley's Budget for farmers!

SPECIAL PACKAGE FOR IRRIGATION: Faced with a drought-like situation and high food prices, the government announced a Rs 1,000 crore scheme to boost irrigation and also set up Rs 500 crore price stabilisation fund to rein in food inflation. "To improve access to irrigation, we propose to initiate the scheme 'Pradhan Mantri Krishi Sinchayee Yojana'. I propose to set aside a sum of Rs 1,000 crore," he said. Jaitley retained the agriculture credit target of Rs 8 lakh crore for this fiscal set in the interim Budget. He also said the current scheme of interest subvention of 3 per cent for timely repayment of farm loans will continue. Noting that price volatility in the agriculture produce creates uncertainties and hardship for farmers, he said Rs 500 crore will be provided to set up a Price Stabilisation Fund.