1. FRBM ACT 2003

2.GOVT. SCHEMES FOR FARMERS

FISCAL RESPONSIBILITY AND BUDGET MANAGEMENT ACT, 2003

(Act No. 39 of 2003)

Government of India Ministry of Finance

Department of Economic Affairs

1

(26^th August, 2003)

THE FISCAL RESPONSIBILITY AND BUDGET MANAGEMENT ACT, 2003 ACT No. 39 OF 2003

[26th August, 2003]

An Act to provide for the responsibility of the Central Government to ensure inter- generational equity in fiscal management and long-term macro-economic stability by [omitted]1 removing fiscal impediments in the effective conduct of monetary policy and prudential debt management consistent with fiscal sustainability through limits on the Central Government borrowings, debt and deficits, greater transparency in fiscal operations of the Central Government and conducting fiscal policy in a medium-term framework and for matters connected therewith or incidental thereto.

BE it enacted by Parliament in the Fifty-fourth Year of the Republic of India as follows:—

1. Short title, extent and commencement.—

(1) This Act may be called the Fiscal Responsibility and Budget Management Act, 2003.

(2) It extends to the whole of India.

(3) It shall come into force on such date2 as the Central Government may, by notification in the Official Gazette, appoint in this behalf.

2. Definitions.—In this Act, unless the context otherwise requires,—

(a) “fiscal deficit” means the excess of total disbursements, from the Consolidated Fund of India, excluding repayment of debt, over total receipts into the Fund (excluding the debt receipts), during a financial year;

3[(aa) “Central Government debt” at any date means-

(i) the total outstanding liabilities of the Central Government on the security of the Consolidated Fund of India, including external debt valued at current exchange rates;

(ii) the total outstanding liabilities in the public account of India; and

¹ The words “achieving sufficient revenue surplus and” omitted by sec. 210 of Act 13 of 2018 (w.e.f. 29.03.2018)

² 5th July, 2004, vide notification No. G.S.R. 395(E), dated 2nd July, 2004, see Gazette of India, Extraordinary, Part II

³ Subs. by s. 211 of Act 13 of 2018 (w.e.f. 29.03.2018)

(iii) such financial liabilities of any body corporate or other entity owned or controlled by the Central Government, which the Government is to repay or service from the annual financial statement, reduced by the cash balance available at the end of that date;]

(b) “fiscal indicators” means the measures such as numerical ceilings and proportions to gross domestic product, as may be prescribed, for evaluation of the fiscal position of the Central Government;

4[(bb) “general Government debt” means the sum total of the debt of the Central Government and the State Governments, excluding inter-Governmental liabilities;

(bc) “gross domestic product” means the sum of the gross value added by all resident production units plus that part of taxes, less subsidies, on products, which is not included in the valuation of output, during a financial year, reckoned at current market prices, as published by the Central Statistics Office from time to time;]

5[(ca) “real gross domestic product” means gross domestic product, reckoned at constant prices, as published by the Central Statistics Office from time to time;

(cb) “real output growth” means growth in real gross domestic product;]

(d) “Reserve Bank” means the Reserve Bank of India constituted under sub- section (1) of section 3 of the Reserve Bank of India Act, 1934 (2 of 1934);

6[(e) Omitted

(f) Omitted]

3. Fiscal policy statements to be laid before Parliament.—

(1) The Central Government shall lay in each financial year before both Houses of Parliament the following statements of fiscal policy along with the annual financial statement and 7 [demands for grants except the Medium-term Expenditure Framework Statement], namely:—

(a) the Medium-term Fiscal Policy Statement;

(b) the Fiscal Policy Strategy Statement;

8[(d) the Medium-term Expenditure Framework Statement.]

9[(1A) The statements referred to in clauses (a) to (c) of sub-section (1) shall be

⁴ Subs. by sec. 211 of Act 13 of 2018 (w.e.f. 29.03.2018)

⁵ Ins. by s. 211, ibid (w.e.f. 29.3.2018)

⁶ Clauses (e) and (f) omitted by s. 211, ibid (w.e.f. 29.03.2018)

⁷ Subs. by s. 147, Act 23 of 2012, for “demand for grants” (w.e.f. 28.05.2012).

⁸ Ins. by s. 147, ibid (w.e.f. 28.05.2012)

⁹ Ins. by s. 147, ibid (w.e.f. 28.05.2012)

followed up with the Medium-term Expenditure Framework Statement with detailed analysis of underlying assumptions.

(1B) The Central Government shall lay the Medium-term Expenditure Framework Statement referred to in clause (d) of sub-section (1) before both Houses of Parliament, immediately following the session of Parliament in which the policy statements referred to in clauses (a) to (c) were laid under sub-section (1).]

(2) The Medium-term Fiscal Policy Statement shall set forth a three-year rolling target for prescribed fiscal indicators with specification of underlying assumptions.

(3) In particular, and without prejudice to the provisions contained in sub-section (2), the Medium- term Fiscal Policy Statement shall include an assessment of sustainability relating to—

10[(i) Omitted]

(ii) the use of capital receipts including market borrowings for generating productive assets.

(4) The Fiscal Policy Strategy Statement shall, inter alia, contain—

(a) the policies of the Central Government for the ensuing financial year relating to taxation, expenditure, market borrowings and other liabilities, lending and investments, pricing of administered goods and services, securities and description of other activities such as underwriting and guarantees which have potential budgetary implications;

(b) the strategic priorities of the Central Government for the ensuing financial year in the fiscal area;

(c) the key fiscal measures and rationale for any major deviation in fiscal measures pertaining to taxation, subsidy, expenditure, administered pricing and borrowings;

(d) an evaluation as to how the current policies of the Central Government are in conformity with the fiscal management principles set out in section 4 and the objectives set out in the Medium-term Fiscal Policy Statement.

(5) The Macro-economic Framework Statement shall contain an assessment of the growth prospects of the economy with specification of underlying assumptions.

(6) In particular and without prejudice to the generality of the foregoing provisions the Macro-economic Framework Statement shall contain an assessment relating to—

(a) the growth in the gross domestic product;

(b) the fiscal balance of the Union Government as reflected in the 11[omitted]

gross fiscal balance;

12[(6A) (a) The Medium-term Expenditure Framework Statement shall set forth a three-year rolling target for prescribed expenditure indicators with specification of underlying assumptions and risk involved.

(b) In particular and without prejudice to the provisions contained in clause (a), the Medium-term Expenditure Framework Statement shall, inter alia, contain—

(i) the expenditure commitment of major policy changes involving new service, new instruments of service, new schemes and programmes;

(ii) the explicit contingent liabilities, which are in the form of stipulated annuity payments over a multi-year time-frame;

13[(iii) Omitted]

(7) The Medium-term Fiscal Policy Statement, 14[the Fiscal Policy Strategy Statement, the Medium- term Expenditure Framework Statement] and the Macro-economic Framework Statement referred to in sub-section (1) shall be in such form as may be prescribed.

4. Fiscal management principles.—

15[(1) the Central Government shall,-

(a) take appropriate measures to limit the fiscal deficit upto three per cent. of gross domestic product by the 31st March, 2021;

(b) endeavor to ensure that-

(i) the general Government debt does not exceed sixty per cent.;

(ii) the Central Government debt does not exceed forty per cent., of gross domestic product by the end of financial year 2024-2025;

¹¹ The words “revenue balance and” omitted by Section 212, ibid (w.e.f. 29.03.2018)

¹² Ins. by Act 23 of 2012, s. 147 (w.e.f. 28.05.2012)

¹³ Item (iii) omitted by s. 212 of Act 13 of 2018 (w.e.f. 29.3.2018)

¹⁴ Subs. by Act 23 of 2012, s. 147, for “the Fiscal Policy Strategy Statement” (w.e.f. 28.05.2012)

¹⁵ Subs. by s. 213 of Act 13 of 2018 (w.e.f. 29.03.2018)

Consolidated Fund of India in excess of one-half per cent of gross domestic product, in any financial year,

(d) endeavor to ensure that the fiscal targets specified in clauses (a) and (b) are not exceeded after stipulated target dates.

(2) the Central Government shall prescribe the annual targets for reduction of fiscal deficit for the period beginning from the date of commencement of Part XV of Chapter VIII of the Finance Act, 2018 and ending on the 31st March, 2021:

Provided that exceeding annual fiscal deficit target due to ground or grounds of national security, act of war, national calamity, collapse of agriculture severely affecting farm output and incomes, structural reforms in the economy with unanticipated fiscal implications, decline in real output growth of a quarter by at least three per cent points below its average of the previous four quarters, may be allowed for the purposes of this section.

(3) Any deviation from fiscal deficit target under sub-section (2) shall not exceed one-half per cent. of the gross domestic product in a year.

(4) The Central Government shall, in case of increase in real output growth of a quarter by at least three per cent points above its average of the previous four quarters, reduce the fiscal deficit by at least one-quarter per cent of the gross domestic product in a year.

(5) Where the fiscal deficit is allowed to vary from the target prescribed under the proviso to sub-section (2) or deviation is initiated under sub-section (4), a statement explaining the reasons thereof and the path of return to annual prescribed targets under this section shall be laid, as soon as may be, before both the Houses of Parliament.]

5. Borrowing from Reserve Bank.—

(1) The Central Government shall not borrow from the Reserve Bank.

(2) Notwithstanding anything contained in sub-section (1), the Central Government may borrow from the Reserve Bank by way of advances to meet temporary excess of cash disbursement over cash receipts during any financial year in accordance with the agreements which may be entered into by that Government with the Reserve Bank:

Provided that any advances made by the Reserve Bank to meet temporary excess cash disbursement over cash receipts in any financial year shall be repayable in accordance with the provisions contained in sub-section (5) of section 17 of the Reserve Bank of India Act, 1934 (2 of 1934).

16[(3) Notwithstanding anything contained in sub-section (1), the Reserve Bank

¹⁶ Subs. by s. 214 of Act 13 of 2018 (w.e.f. 29.03.2018)

may subscribe to the primary issues of Central Government Securities due to ground or grounds specified in the proviso to sub-section (2) of section 4.]

(4) Notwithstanding anything contained in sub-section (1), the Reserve Bank may buy and sell the Central Government securities in the secondary market 17[or converts Central Government Securities held by it with other Securities of the Central Government as mutually agreed between the Reserve Bank and the Central Government].

6. Measures for fiscal transparency.—

(1) The Central Government shall take suitable measures to ensure greater transparency in its fiscal operations in public interest and minimise as far as practicable, secrecy in the preparation of the annual financial statement and demands for grants.

(2) In particular, and without prejudice to the generality of the foregoing provision, the Central Government shall, at the time of presentation of annual financial statement and demands for grants, make such disclosures and in such form as may be prescribed.

7. Measures to enforce compliance.—

(1) The Minister-in-charge of the Ministry of Finance shall review, 18[on half-yearly basis], the trends in receipts and expenditure in relation to the budget and place before both Houses of Parliament the outcome of such reviews.

19[(1A) The Central Government shall prepare a monthly statement of its accounts.;]

(2) Whenever there is either shortfall in revenue or excess of expenditure over the 20[prescribed levels] during any period in a financial year, the Central Government shall take appropriate measures for increasing revenue or for reducing the expenditure (including curtailing of the sums authorised to be paid and applied from and out of the Consolidated Fund of India under any Act so as to provide for the appropriation of such sums):

Provided that nothing in this sub-section shall apply to the expenditure charged on the Consolidated Fund of India under clause (3) of article 112 of the Constitution or to any other expenditure which is required to be incurred under any agreement or contract or such other expenditure which cannot be postponed or curtailed.

¹⁷ Ins. by s. 214 of Act 13 of 2018 (w.e.f. 29.03.2018)

¹⁸ The words “every quarter” subs. by s. 215, ibid (w.e.f. 29.03.2018)

¹⁹ Ins. by s. 215, ibid (w.e.f. 29.03.2018)

²⁰ The words “ pre-specified levels mentioned in the Fiscal Policy Strategy Statement and the rules made under this Act” subs. by s. 215, ibid (w.e.f. 29.03.2018)

(3) (a) Except as provided under this Act, no deviation in meeting the obligations cast on the Central Government under this Act, shall be permissible without approval of Parliament.

(b) Where, owing to unforeseen circumstances, any deviation is made in meeting the obligations cast on the Central Government under this Act, the Minister-in-charge of the Ministry of Finance shall make a statement in both Houses of Parliament explaining—

(i) any deviation in meeting the obligations cast on the Central Government under this Act;

(ii) whether such deviation is substantial and relates to the actual or the potential budgetary outcomes; and

(iii) the remedial measures the Central Government proposes to take.

21 [7A. Laying of review reports.—The Central Government may entrust the Comptroller and Auditor-General of India to review periodically as required, the compliance of the provisions of this Act and such reviews shall be laid on the table of both Houses of Parliament.]

8. Power to make rules.—

(1) The Central Government may, by notification in the Official Gazette, make rules for carrying out the provisions of this Act.

(2) In particular, and without prejudice to the generality of the foregoing power, such rules may provide for all or any of the following matters, namely:—

(a) the annual targets to be specified under sub-section (2) of section 4;

(b) the fiscal indicators to be prescribed for the purpose of sub-section (2) of section 3;

22[(ba) the expenditure indicators with specifications of underlying assumptions and risk involved under clause (a) of sub-section (6A) of section 3;]

(c) the forms of the Medium-term Fiscal Policy Statement, 23[Fiscal Policy Strategy Statement, Medium-term Expenditure Framework Statement] and Macro-economic Frame Work Statement referred to in sub-section (7) of section 3;

24[(ca) Omitted]

(d) the disclosures and form in which such disclosures shall be made under sub-section (2) of section 6;

25[(da)the level of shortfall in revenue or excess of expenditure under sub-section

(2) of section 7;]

²¹ Ins. by Act 23 of 2012, s. 149 (w.e.f. 28.05.2012)

²² Ins. by s. 150, ibid. (w.e.f. 28.05.2012)

²³ Subs. by s. 150, ibid., for “Fiscal Policy Strategy Statement” (w.e.f. 28.05.2012)

²⁴ Clause (ca) omitted by s. 216, Act 13 of 2018 (w.e.f. 29.03.2018)

²⁵ Ins. by s. 216, ibid (w.e.f. 29.03.2018)

(e) any other matter which is required to be, or may be, prescribed.

9. Rules to be laid before each House of Parliament.—Every rule made under this Act shall be laid, as soon as may be after it is made, before each House of Parliament, while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in making any modification in the rule or both Houses agree that the rule should not be made, the rule shall thereafter have effect only in such modified form or be of no effect, as the case may be; so, however, that any such modification or annulment shall be without prejudice to the validity of anything previously done under that rule.

10. Protection of action taken in good faith.—No suit, prosecution or other legal proceedings shall lie against the Central Government or any officer of the Central Government for anything which is in good faith done or intended to be done under this Act or the rules made thereunder.

11. Jurisdiction of civil courts barred.—No civil court shall have jurisdiction to question the legality of any action taken by, or any decision of, the Central Government, under this Act.

12. Application of other laws not barred.—The provisions of this Act shall be in addition to, and not in derogation of, the provisions of any other law for the time being in force.

13. Power to remove difficulties.—

(1) If any difficulty arises in giving effect to the provisions of this Act, the Central Government may, by order published in the Official Gazette, make such provisions not inconsistent with the provisions of this Act as may appear to be necessary for removing the difficulty:

Provided that no order shall be made under this section after the expiry of two years from the commencement of this Act.

(2) Every order made under this section shall be laid, as soon as may be after it is made, before each House of Parliament.

FISCAL RESPONSIBILITY AND BUDGET MANAGEMENT RULES, 2004

Notification No.GSR 395 (E) dated 2nd July, 2004, Gazette of India, Extraordinary, Part-II - Sec. 3(i)

Government of India Ministry of Finance

Department of Economic Affairs

(2^nd July, 2004)

THE FISCAL RESPONSIBILITY AND BUDGET MANAGEMENT RULES, 2004 NOTIFICATION No. G.S.R. 395(E)

[New Delhi, the 2nd July, 2004]

In exercise of the powers conferred by Sub-section 8 of the Fiscal Responsibility and Budget Management Act , 2003 (39 of 2003), the Central Government hereby makes the following rules, namely:

1. Short title and commencement.—

(1) These rules may be called the Fiscal Responsibility and Budget Management Rules, 2004.

(2) They come into force on the 5th day of July, 2004.

2. Definition.— In these rules, unless the context otherwise requires,-

(a) “Act” means the Fiscal Responsibility and Budget Management Act, 2003 (39 of 2003);

(b) “Form” means a form appended to these rules;

1[(c) “primary deficit” means the fiscal deficit minus the interest payments;

(ca) “revenue deficit” means the difference between revenue expenditure and revenue receipts]

(d) “section” means a section of the Act;

(e) words and expressions used herein but not defined and defined in the Act shall have the meanings respectively assigned to them in the Act.

3. Annual Targets.— 1[The Central Government shall reduce the fiscal deficit by an amount equivalent to 0.1 per cent or more of the Gross Domestic Product (GDP) at the end of each financial year beginning with the financial year 2018-19, so that fiscal deficit is brought down to not more than 3 per cent of GDP by 31st day of March, 2021.]

4. 1[Medium-term Fiscal Policy cum Fiscal Policy Strategy Statement, Macro-economic Framework Statement and Medium-term Expenditure Framework Statement.— The Central Government shall lay before each House of Parliament, -

(a) the Medium-term Fiscal Policy cum Fiscal Policy Strategy Statement and the Macro- economic Framework Statement along with the annual financial statement and demands for grants in forms F-1and F-2 respectively; and

(b) the Medium-term Expenditure Framework Statement in Form F-3.]

5. 1[Fiscal Indicators.— In the Medium-term Fiscal Policy cum Fiscal Policy Strategy Statement, three years rolling targets in respect of the following fiscal indicators shall be as given in Form F-1, namely:

(i) fiscal deficit as a percentage of GDP;

(ii) revenue deficit as a percentage of GDP;

(iii) primary deficit as a percentage of GDP;

(iv) tax revenue as a percentage of GDP;

(v) non-tax revenue as a percentage of GDP; and

(vi) Central Government debt as a percentage of GDP.]

6. Disclosures.—

(1) In order to ensure greater transparency in its fiscal operation in the public interest, the Central Government shall, at the time of presenting the annual financial statement and demands for grants, make disclosures of the following:

(a) any significant change in accounting standards, policies and practices affecting or likely to affect the computation of prescribed fiscal indicators.

2[(b) statements of receivables and guarantees in Forms D-1 to D-3 along with explanatory notes, if any;

3[(d) a statement of explicit contingent liabilities, which are in the form of stipulated annuity payments over a multi-year time-frame in Form D-5;

4[(e) Omitted]

(2) The provisions of sub-rule (1) shall be complied with not later than with the presentation of the annual financial statement and demands for grants for the financial year 2006- 2007.

7. Measures to ensure compliance.— In case the outcome of 5[half yearly review] of trends in receipts and expenditure, made under sub-section (1) of section 7, at the end of 6[first half] of any financial year beginning with the financial year 7[2015-16] shows that –

(i) the total non-debt receipts are less than 40 per cent of Budget Estimates for that year; or

(ii) the fiscal deficit is higher than 8[70] per cent of the Budget Estimates for that year; or

(iii) the revenue deficit is higher than 8[70] per cent of the Budget Estimates for that year, then, -

(a) as required under sub-section (2) of that section, the Central Government shall take appropriate corrective measures; and

(b) as required under sub-section (3) of that section, the Minister-in-charge of the Ministry of Finance shall make a statement in both Houses of Parliament during the session immediately following the end of 5[first half] detailing the corrective measures taken, the manner in which any supplementary demands for grants are proposed to be financed and the prospects for the fiscal deficit of that financial year.

9[8. Review of compliance by the Comptroller and Auditor General of India.—

(1) The Comptroller and Auditor General of India shall carry out an annual review of the compliance of the provisions of the Act and the rules made there under by the Central Government beginning with the financial year 2014-15.

(2) The review under sub-rule (1) shall include the following, namely:

(i) analysis of achievement and compliance of targets and priorities set out in the Act and the rules made there under, 10[Medium-term Fiscal Policy cum Fiscal Policy Strategy Statement], Macro-economic Framework Statement and Medium- term Expenditure Framework Statement;

(ii) analysis of trends in receipts, expenditure and macro-economic parameters in relation to the Act and the rules made there under;

(iii) comments related to classification of revenue, expenditure, assets or liabilities having a bearing on the achievement of targets set out in the Act and the rules made there under;

(iv) analysis of disclosures made by the Central Government to ensure greater transparency in its fiscal operations.

(3) For the purpose of conduct of the review under sub-rule (1), the Comptroller and Auditor General of India shall have the authority to-

(a) call for such records or information as he may require, for the preparation of the report; and

(b) require that any accounts, books, papers and other documents which deal with or form the basis of, or are otherwise relevant to the review, shall be sent at such place as he may appoint for the inspection.

(4) The officer in charge of any office or department, the accounts of which are to be inspected and reviewed by the Comptroller and Auditor General, shall afford all facilities for such inspection and comply with the requests for such records or information as expeditiously as possible and in a complete form.

(5) The report of the Comptroller and Auditor General of India relating to review under sub- rule (1) shall be submitted to the President, who shall cause them to be laid on the table of both Houses of Parliament.]

1. Subs. by Fiscal Responsibility and Budget Management (Amendment) Rules, 2018, vide notification No.

G.S.R. 321(E), dated 2nd April, 2018, see Gazette of India, Extraordinary, Part II – Sec. 3(i)

2. Subs. by Fiscal Responsibility and Budget Management (Amendment) Rules, 2007, vide notification No.

G.S.R. 41(E), dated 23rd January, 2007, see Gazette of India, Extraordinary, Part II – Sec. 3(i)

3. Ins. By Fiscal Responsibility and Budget Management (Amendment) Rules, 2013, vide notification No.

G.S.R. 290(E), dated 7^th May, 2013, see Gazette of India, Extraordinary, Part II – Sec. 3(i)

4. Clause (e) omitted by Fiscal Responsibility and Budget Management (Amendment) Rules, 2018, vide

notification No. G.S.R. 321(E), dated 2nd April, 2018, see Gazette of India, Extraordinary, Part II – Sec. 3(i)

5. The words “quarterly review” subs. by Fiscal Responsibility and Budget Management (Amendment) Rules, 2018, ibid

6. The words “second quarter” subs. by Fiscal Responsibility and Budget Management (Amendment) Rules, 2018, ibid

7. The figures “2012-13” subs. vide Fiscal Responsibility and Budget Management (Amendment) Rules, 2015, vide notification No. G.S.R. 523(E), dated 25^th June, 2015, see Gazette of India, Extraordinary, Part II – Sec. 3(i)

8. The figures “60” subs. vide Fiscal Responsibility and Budget Management (Amendment) Rules, 2015, ibid

9. Ins. Vide Fiscal Responsibility and Budget Management (Second Amendment) Rules, 2015, vide notification No. G.S.R. 829(E), dated 31^st October, 2015, see Gazette of India, Extraordinary, Part II – Sec. 3(i)

10. The words “Medium Term Fiscal policy Statement, Fiscal Policy Strategy Statement” subs. by Fiscal Responsibility and Budget Management (Amendment) Rules, 2018, vide notification No. G.S.R. 321(E), dated 2nd April, 2018, see Gazette of India, Extraordinary, Part II – Sec. 3(i)

# Forms F-1, F-2, F-3, F-4, D-1, D-3, D-4 and D-5 subs. by Fiscal Responsibility and Budget Management (Amendment) Rules, 2018, ibid

@ Form D-2 amended by Fiscal Responsibility and Budget Management (Amendment) Rules, 2007, vide notification No. G.S.R. 41(E), dated 23rd January, 2007, see Gazette of India, Extraordinary, Part II – Sec. 3(i)

#Form F-1 [See rule 4]

MEDIUM TERM FISCAL POLICY CUM FISCAL POLICY STRATEGY STATEMENT

A. Fiscal Indicators – Rolling Targets

	Current Year Revised Estimates	Ensuing year Target: Budget Estimates	Targets for the next two years
	Y-1	Y	Y+1	Y+2
1. Fiscal Deficit as percentage of GDP
2. Revenue Deficit as percentage of GDP
3. Primary Deficit as percentage of GDP
4. Tax Revenue as percentage of GDP
5. Non-tax Revenue as percentage of GDP
6. Central Government debt as percentage of GDP

B. Assumptions underlying the Fiscal Indicators –

1. Revenue receipts

(a) Tax-Revenue – Sectoral and GDP growth rates

(b) Non-tax-revenue – Policy stance

2. Capital receipts – Debt stock, repayment, fresh loans and policy stance

(a) Recovery of loans

(b) Other receipts

3. Total expenditure – Policy Stance

(a) Revenue account

(i) Interest payments

(ii) Major subsidies

(iii) Others

(b) Capital account

(i) Loans and advances

(ii) Capital outlay

4. GDP Growth

C. Assessment of sustainability relating to -

(i) The balance between revenue receipts and revenue expenditure:

The statement may specify the tax-GDP ratio for the Current year and subsequent two years with an assessment of the changes required for achieving it. It may discuss the non-tax revenues and the policies concerning the same. An assessment of the capital receipts may be made, including the borrowings and other liabilities, as per policies spelt out. The statement may also give projections for GDP and discuss it on the basis of assumptions underlying the indicators. Expenditure on revenue account, may also be made with particular emphasis on the measures proposed to meet the overall objectives.

(ii) The use of capital receipts including market borrowings for generating productive assets:

The statement may specify the proposed use of capital receipts for generating productive assets in different categories. It may also spell out proposed changes among these categories and discuss it in terms of the overall policy of the Government in achieving the national objectives.

D. Fiscal Policy Strategy Overview:

This paragraph will present an overview of the fiscal policy strategy currently in vogue.

E. Fiscal policy Strategy for the ensuing financial year:

This paragraph shall have following sub-paragraphs dealing with –

(1) Tax Policy:

In the sub-paragraph on tax policy, major changes proposed to be introduced in direct and indirect taxes in the ensuing financial year will be presented. It shall contain an assessment of income tax exemption limits and how far it relates to per capita income, principles regarding tax exemptions and target group for exemptions.

(2) Expenditure Policy:

Under expenditure policy, major changes proposed in the allocation of expenditure shall be indicated. It shall also contain an assessment of principles regarding the benefits and targets group of beneficiaries.

(3) Government Borrowings, Lending and Investments:

In this sub-paragraph on Government borrowings, the policy relating to internal debt, external debt, Government lending, investments and other activities; including principles average maturity structure, bunching of repayments, etc., shall be indicated.

(4) Contingent and other Liabilities:

Any change in the policy on contingent liabilities and in particular guarantees which have potential budgetary implications shall be indicated.

(5) Pricing of Administered Goods:

Any-change proposed in the pricing of administered products, including the progress towards market-based principles shall be spelt out.

F. Strategic priorities for ensuing year:

(1) Resource mobilization for the ensuing financial year through tax, non-tax and other receipts shall be spelt out.

(2) The broad principles underlying the expenditure management during the ensuing year shall be spelt out.

(3) Priorities relating to management of public debt proposed during the ensuing year shall be indicated.

G. Rationale for Policy changes:

(1) The rationale for policy changes consistent with the Medium Term Fiscal Policy Statement, in respect of direct and indirect taxes proposed in the ensuing Budget shall be spelt out.

(2) The rationale for major policy changes in respect of budgeted expenditure including expenditure on subsidies shall be indicated.

(3) Rationale for changes, if any, proposed in the management of the public debt shall be indicated.

(4) The need for changes, if any, proposed in respect of pricing of administered goods shall be spelt out.

H. Policy Evaluation:

This paragraph shall contain an evaluation of the changes proposed in the fiscal policy strategy for the ensuing year with reference to reduction of fiscal deficit, Central Government debt and objectives set out in the statement.

#Form F – 2 [See rule 4]

MACRO ECONOMIC FRAMEWORK STATEMENT

1. Overview of the Economy:

This paragraph shall contain a synoptic analysis of trends in growth rates, prices, output, external sector, money and capital markets. Information on key macro-economic indicators will be presented in the format appended.

2. GDP Growth:

This paragraph shall contain an analysis of trends in overall GDP growth and its sectoral composition.

3. External Sector:

Under this paragraph, trends in exports, imports, foreign exchange reserves, current account balance and balance of payments shall be presented.

4. Money, Banking and Capital Markets:

This paragraph shall present and account of the trends in money supply, bank deposits and credit and developments in the capital market.

5. Central Government Finances:

Under this paragraph an analysis of trends in revenue collections and expenditure shall be presented. Trends in important fiscal deficit and debt indicators shall also be presented. Trends in Central Government finances shall be presented in the format appended.

6. Prospects:

Based on the trends in major sectors presented in the previous sections, an assessment shall be made regarding the growth prospects, along with the underlying assumptions.

Economic Performance at a Glance

		Absolute Value		Percentage Changes
		April-Reporting period*		April-Reporting period*
		Previous year	Current year	Previous year	Current year
	Real Sector
1	GDP
(a)	at current price
(b)	At 2011-12¹ price
2	Index of Industrial Production

¹ Use the latest base year

3	Wholesale Price Index (point to point)
4	Consumer Price Index
5	Money Supply (M3)
6	Imports at current prices
(a)	In ` crore
(b)	In US $ million
7	Exports at current prices
(a)	In ` crore
(b)	In US $ million
8	Trade Balance
9	Foreign Exchange Assets
(a)	In ` crore
(b)	In US $ million
10	Current Account Balance
1	Government Finances Revenue Receipts (2+3) Tax Revenue (Net) Non-Tax Revenue Capital receipts (5+6+7) Recovery of loans Other Receipts Borrowing and other liabilities Total Receipts (1+4) Revenue Expenditure of which: Interest payments Capital Expenditure Total Expenditure (9+11) Fiscal Deficit {12-(1+5+6)} Revenue Deficit (9-1) Primary Deficit (13-10)
2
3
4
5
6
7
8
9
10
11
12
13
14
15

* data will relate to the period up to which information for the current year is available. To facilitate comparison, data of previous year corresponds to the same period of current year. Accordingly, reporting period may vary for different items.

#Form F-3 [See rule 4]

MEDIUM-TERM EXPENDITURE FRAMEWORK

A. MEDIUM-TERM EXPENDITURE PROJECTIONS (Major category wise)

(Figures in crore)

Previous Year’s Revised Estimates

Current Year’s Budget Estimates

Projections for next two years

Y-1

Y+1

Y+2

Revenue Expenditure

1. Salary

2. Interest

3. Pension

4. Subsidies

a. Food

b. Fertiliser

c. Petroleum

5. Centralized

provision for Grants to States

6. Defence

7. Postal Deficit

8. External Affairs

9. Home Affairs

10. Tax Administration

11. Finance

12. Education

13. Health

14. Social welfare

15. Agriculture and allied

16. Commerce and Industry

17. Urban

Development

18. Rural Development

19. Development of North East

20. Planning and Statistics

21. Scientific

Departments

22. Energy

23. Transport

24. IT and Telecom

25. Union Territories

26. Others

Total-Revenue Expenditure

	Previous Year’s Revised Estimates	Current Year’s Budget Estimates	Projections for next two years
	Y-1	Y	Y+1	Y+2
Capital Expenditure 1. Defence 2. Home Affairs 3. Finance 4. Health 5. Commerce and Industry 6. Urban Development 7. Planning and Statistics 8. Scientific Departments 9. Energy 10. Transport 11. IT and Telecom 12. Loans to States 13. Union Territories 14. Others
Total-Capital Expenditure
Total Expenditure

B. ASSUMPTIONS UNDERLYING THE MEDIUM TERM EXPENDITURE PROJECTIONS

1. Revenue Expenditure

a. Salaries

b. Pensions

c. Interest Payments

d. Subsidies

e. Defence

f. Other Revenue Expenditure and the underlying expenditure priorities

2. Capital Expenditure

a. Defence

b. Road Transport and Highways

c. Budgetary support for capital expenditure of Railways

d. Other Capital Expenditure and the underlying expenditure priorities.

C. MEDIUM-TERM EXPENDITURE PROJECTIONS (Demand wise and on net basis)

(Figures in ` crore)

Demand No.

Demand Name

Previous Year’s Revised Estimates

Current Year’s Budget Estimates

Projections for next two years

Y-1

Y+1

Y+2

Demand Name Revenue Capital

Total

D. MEDIUM-TERM EXPENDITURE PROJECTIONS FOR SELECT SCHEMES (on net basis)

1. Revenue Section:

(Figures in ` crore)

Demand No/Name.

Scheme Name

Previous Year’s Revised

Estimates

Current Year’s Budget

Estimates

Projections for next two years

Y-1

Y+1

Y+2

2. Capital Section:

(Figures in ` crore)

Demand No/Name.

Scheme Name

Previous Year’s Revised

Estimates

Current Year’s Budget

Estimates

Projections for next two years

Y-1

Y+1

Y+2

^#Form D – 1 [See rule 6]

TAX REVENUES RAISED BUT NOT REALISED

(principal taxes)

(As at the end of Reporting Year)

Amounts under dispute

Amounts not under dispute

(` in crore)

Major Head

Description

Over 1

Year but less than 2

Years

Over 2 Year but less than 5 Years

Over 5 Year but less than 10 Years

Over 10

Years

Total

Over 1 Year but less than 2 Years

Over 2 Year but less than 5 Years

Over 5 Year but less than 10 Years

Over 10

Years

Total

Grand Total

Taxes on

Income & Expenditure

0020

Corporation

Tax

0021

Taxes on Income other than

Corp. Tax

Taxes on Commodit ies &

services

0005

Central Goods and Services Tax

(CGST)

0008

Integrated Goods and Services

Tax (IGST)

0037

Customs

0038

Union Excise

0044

Service Tax

Total

Note: reporting year refers to the second year preceding the year for which the annual financial statement and demands for grants are presented.

^@Form D – 2 [See rule 6]

ARREARS OF NON-TAX REVENUE

(As at the end of Reporting Year)

Amount Pending (` in crore)		Total
Description	0-1 1-2 2-3 3-5 Above 5 year years years years years
Fiscal Services [(i)+(ii)] Interest receipts of which [a+b+c+d] From State Govts. and UT Govts. From Railways From Departmental Commercial Undertakings From Public Sector & other Undertakings Dividend and Profits General Services Police receipts Economic Services[(i)+(ii)] Petroleum Cess/Royalty Communications (Licence Fee) Receipts Other Receipts
Total

Note: reporting year refers to the second year preceding the year for which the annual financial statement and demands for grants are presented.

Note: The year in the above table refers to the second year preceding the year for which the annual financial statement and demands for grants are presented.

^#Form D – 4 [See rule 6]

ASSET REGISTER

Assets at the beginning of reporting year

Assets Acquired during the year reporting year

Cumulative total of assets at the end of the reporting year

Cost (` in crore)

Physical assets:

Land

(Area of land) Building

Office Residential

Roads Bridges

Irrigation Projects Power Projects

Other Capital Projects Machinery & Equipment Office Equipment Vehicles

Total

Financial assets:

Equity Investment Shares

Bonus Shares Loans and Advances

Loans to State Govts.

Loans to UT Govts.

Loans to Foreign Govts. Loans to Companies Loans to Others

Other Financial Investment

Total

Notes:

1. Assets above the threshold value of Rupees two lakh only to be recorded.

2. This disclosure statement does not include assets of Cabinet Secretariat, central Police Organisations, Ministry of Defence, Department of Space and Atomic Energy.

3. Reporting year refers to the second year preceding the year for which the annual financial statement and demands for grants are presented.

4. Area of land in square km shall be mentioned in bracket below cost of land in each column. If, area of the land is not available, it will not be given, however, target date to compile the same will be indicated in footnote to the statement.

^#Form D-5 [See rule 6]

LAIBILITY ON ANNUITY PROJECTS

Ministry/	Name of	Value of	Total Annuity	Term	Annuity	Amount of
Department	Project	the Project	Committed		Payment	unpaid annuity
					(per year)	liability at the
						end of the
						financial year
		(` crore)	(` crore)	(years)	(` crore)

Note: Financial Year mentioned in the column of unpaid annuity refers to the year for which annual financial statement is being presented

[F.No. 7(3)-B(D)/2003]

M. PRASAD, Jt. Secy.

Ministry of Agriculture & Farmers Welfare

Schemes for Welfare of Farmers

Posted On: 02 FEB 2024 6:48PM by PIB Delhi

Details of schemes being run by Department of Agriculture and Farmers’ Welfare for welfare/increasing incomes of farmers and the achievements made therein, scheme-wise are attached in Annexure:

Brief of major schemes implemented by the Department of Agriculture and Farmers Welfare

S No	Name of the Scheme	Purpose
I.	Central Sector Schemes
1.	Pradhan Mantri Kisan Samman Nidhi (PM-KISAN)	PM-KISAN is a central sector scheme launched on 24th February 2019 to supplement financial needs of land holding farmers, subject to exclusions. Under the scheme, financial benefit of Rs. 6000/- per year is transferred in three equal four-monthly installments into the bank accounts of farmers’ families across the country, through Direct Benefit Transfer (DBT) mode. Till now, Rs. 2.81 lakh crores have been transferred through Direct Benefit Transfer (DBT) to more than 11 crores beneficiaries (Farmers) through various instalments.
2.	Pradhan Mantri Kisan MaanDhan Yojana (PM-KMY)	Pradhan Mantri Kisan Maandhan Yojna (PMKMY) is a central sector scheme launched on 12th September 2019 to provide security to the most vulnerable farmer families. PM-KMY is contributory scheme, small and marginal farmers (SMFs), subject to exclusion criteria, can opt to become member of the scheme by paying monthly subscription to the Pension Fund. Similar, amount will be contributed by the Central Government. The applicants between the age group of 18 to 40 years will have to contribute between Rs. 55 to Rs. 200 per month till they attain the age of 60. PMKMY is taking care of the farmers during their old age and provides Rs. 3,000 monthly pension to the enrolled farmers once they attain 60 years of age, subject to exclusion criteria. Life Insurance Corporation (LIC) is pension fund manager and registration of beneficiaries is done through CSC and State Govts. So far 23.38 lakh farmers have enrolled under the scheme.
3.	Pradhan Mantri Fasal Bima Yojana (PMFBY)	PMFBY was launched in 2016 in order to provide a simple and affordable crop insurance product to ensure comprehensive risk cover for crops to farmers against all non-preventable natural risks from pre-sowing to post-harvest and to provide adequate claim amount. The scheme is demand driven and available for all farmers A total of 5549.40 lakh farmer applications were insured under the scheme since 2016-17 and Rs 150589.10 crore has been paid as claim.
4.	Modified Interest Subvention Scheme (MISS)	The Interest Subvention Scheme (ISS) provides concessional short term agri-loans to the farmers practicing crop husbandry and other allied activities like animal husbandry, dairying and fisheries. ISS is available to farmers availing short term crop loans up to Rs.3.00 lakh at an interest rate of 7% per annum for one year. Additional 3% subvention is also given to the farmers for prompt and timely repayment of loans thus reducing the effective rate of interest to 4% per annum. The benefit of ISS is also available for post-harvest loans against Negotiable Warehouse Receipts (NWRs) on crop loans for a further period of six months post-harvest to small and marginal farmers having Kisan Credit Cards (KCCs), on occurrence of natural calamities and severe natural calamities. As on 05-01-2024, 465.42 lakh new KCC applications have been sanctioned with a sanctioned credit limit of Rs. 5,69,974 crore as part of the drive.
5.	Agriculture Infrastructure Fund (AIF)	In order to address the existing infrastructure gaps and mobilize investment in agriculture infrastructure, Agri Infra Fund was launched under Aatmanirbhar Bharat Package. AIF was introduced with a vision to transform the agriculture infrastructure landscape of the country. The Agriculture Infrastructure Fund is a medium - long term debt financing facility for investment in viable projects for post- harvest management infrastructure and community farming assets through interest subvention and credit guarantee support. The Fund of Rs. 1 lakh crore under the scheme will be disbursed from FY 2020-21 to FY2025-26 and the support under the scheme will be provided for the duration of FY2020-21 to FY2032-33. Under the scheme, Rs. 1 Lakh Crore will be provided by banks and financial institutions as loans with interest subvention of 3% per annum and credit guarantee coverage under CGTMSE for loans up to Rs. 2 Crores. Further, each entity is eligible to get the benefit of the scheme for up to 25 projects located in different LGD codes. Eligible beneficiaries include Farmers, Agri-entrepreneurs, Start-ups, Primary Agricultural Credit Societies (PACS), Marketing Cooperative Societies, Farmer Producers Organizations(FPOs), Self Help Group (SHG), Joint Liability Groups (JLG), Multipurpose Cooperative Societies, Central/State agency or Local Body sponsored Public Private Partnership Projects, State Agencies, Agricultural Produce Market Committees (Mandis), National & State Federations of Cooperatives, Federations of FPOs (Farmer Produce Organizations) and Federations of Self Help Groups (SHGs). As on 31-12-2023, Rs.33.209 Crores have been sanctioned for 44,912 projects under AIF, out of this total sanctioned amount, Rs 25,504 Crores is covered under scheme benefits. These sanctioned projects have mobilized an investment of Rs 56.471 Crores in agriculture sector.
6.	Formation & Promotion of new 10,000 FPOs	The Government of India launched the Central Sector Scheme (CSS) for “Formation and Promotion of 10,000 Farmer Producer Organizations (FPOs)” in the year 2020. The scheme has a total budgetary outlay of Rs.6865 crores. Formation & promotion of FPOs are to be done through Implementing Agencies (IAs), which further engage Cluster Based Business Organizations (CBBOs) to form & provide professional handholding support to FPOs for a period of 5 years.

		FPOs get a financial assistance upto Rs 18.00 lakh per FPO for a period of 03 years. In addition to this, provision has been made for matching equity grant upto Rs. 2,000 per farmer member of FPO with a limit of Rs. 15.00 lakh per FPO and a credit guarantee facility upto Rs. 2 crore of project loan per FPO from eligible lending institution to ensure institutional credit accessibility to FPOs. Suitable provisions have been made for training and skill development of FPOs. Further, FPOs are onboarded on National Agriculture Market (e-NAM) platform which facilitate online trading of their agricultural commodities through transparent price discovery method to enable FPOs to realize better remunerative prices for their produce. As on 31.12.2023, total 7,774 FPOs were registered under the scheme in the country.
7.	National beekeeping and Honey Mission (NBHM)	Keeping in view the importance of beekeeping, a new Central Sector Scheme entitled National Beekeeping & Honey Mission (NBHM) was launched in 2020 under Atma Nirbhar Bharat Abhiyan for its implementation in the field for overall promotion and development of scientific beekeeping & to achieve the goal of “Sweet Revolution”. Some of the achievements include; Honeybees/ beekeeping have been approved as 5^th Input for Agriculture. 4 World Class State of the Art Honey Testing Labs and 35 Mini Honey Testing Labs have been sanctioned under National Beekeeping & Honey Mission (NBHM) for testing of honey. Madhukranti portal has been launched for online registration of Beekeepers/ Honey Societies/ Firms/ Companies. Till date 23 lakhs bee colonies registered on Portal. 100 Honey FPOs targeted under 10,000 FPOs scheme in the country. 88 FPOs have been registered by NAFED, NDDB & TRIFED. 25 States/UTs have been covered under NBHM under MM-I, II & III. 160 Projects sanctioned under MM- I, II & III of Rs. 202.00 crores.
8.	Market Intervention Scheme and Price support Scheme (MIS-PSS)	Ministry of Agriculture & Farmers Welfare implements the Price Support Scheme (PSS) for procurement of pulses, oilseeds and copra. Market Intervention Scheme (MIS) for procurement of agricultural and horticultural commodities which are perishable in nature and are not covered under the Price Support Scheme (PSS). The objective of intervention is to protect the growers of these commodities from making distress sale in the event of a bumper crop during the peak arrival period when the prices tend to fall below economic levels and cost of production.
9.	Namo Drone Didi	The Government has recently approved a Central Sector Scheme for providing drones to the Women Self Help Group (SHGs) for the

		period from 2024-25 to 2025-26 with an outlay of Rs. 1261 Crores. The scheme aims to provide drones to 15000 selected Women Self Help Group (SHGs) for providing rental services to farmers for agriculture purpose (application of fertilizers and pesticides). Under this Scheme, Central Financial Assistance @ 80% of the cost of drone and accessories/ancillary charges upto a maximum of Rs. 8.0 Lakhs will be provided to the women SHGs for purchase of drones. The Cluster Level Federations (CLFs) of SHGs may raise the balance amount (total cost of procurement minus subsidy) as loan under National Agriculture Infra Financing Facility (AIF). Interest subvention @ 3% on the AIF loan will be provided to the CLFs. The scheme will also provide sustainable business and livelihood support to SHGs and they would be able to earn additional income of at least of Rs. 1.0 lakh per annum.
II	Centrally Sponsored Schemes
II. (i) Rashtriya Krishi Vikas Yojana
10.	Rastriya Krishi Vikas Yojana- Detailed Project Report based schemes (RKVY- DPR)	The scheme focuses on creation of pre & post-harvest infrastructure in agriculture and allied sectors that help in supply of quality inputs, market facilities, etc to farmers. It provides flexibility and autonomy to states to implement projects as per the local farmers’ needs and priorities from a bouquet of activities in agriculture and allied sectors. The scheme aims to fill the resources gap of agriculture and allied sectors by providing financial support to states for undertaking various activities to increase in overall growth of agriculture and allied sectors and farmers’ income. Under RKVY Agri-startup Programme, since 2019-20, 1524 Start-ups have been selected and Rs. Rs. 106.25 crore released as grants-in-aid for funding the Start-ups.
11.	Soil Health Card (SHC)	Soil health card provides information to farmers on nutrient status of their soil along with recommendation on appropriate dosage of nutrients to be applied for improving soil health and its fertility. The indicators are typically based on farmers' practical experience and knowledge of local natural resources. The card lists soil health indicators that can be assessed without the aid of technical or laboratory equipment. The Scheme rolls out a decentralized system of soil testing which will help in developing a nationwide soil fertility map on a GIS platform that can easily be integrated with the real time decision support systems being developed. In order to develop the soil fertility map, Government of India has decided to conduct 5 Crore Soil Samples across the country during year 2023- 24 to 2025-26.
12.	Rainfed Area Development (RAD)	RAD is being implemented since 2014-15. RAD adopts an area based approach in cluster mode for promoting Integrated Farming System (IFS) which focuses on multi-cropping, rotational cropping, inter-cropping, mixed cropping practices with allied activities like horticulture, livestock, fishery, apiculture etc. to

		enable farmers not only in maximizing the farm returns for sustaining livelihood, but also to mitigate the impacts of drought, flood or other extremes weather events. An amount of Rs. 1673.58 crores has been released and an area of 7.13 lakh hectare has been covered under RAD programme from the year 2014-15 to till date.
13.	Per Drop More Crop (PDMC)	In order to increase water use efficiency at the farm level through Micro Irrigation technologies i.e. drip and sprinkler irrigation systems, Per Drop More Crop (PDMC) scheme was launched during 2015-16. The Micro Irrigation helps in water saving as well as reduced fertilizer usage through fertigation, labour expenses, other input costs and overall income enhancement of farmers. It also supports micro level water harvesting, storage, management etc. activities as Other Interventions (OI) to supplement source creation for Micro Irrigation. OI activities allowed on need basis up to 40% of the total allocation for North East States, Himalayan States, Jammu & Kashmir, Ladakh and up to 20% for other States. An area of 78 lakh hectare has been covered under Micro irrigation through the PDMC scheme from 2015-16 to 2022-23.
14.	Micro Irrigation Fund (MIF)	A Micro Irrigation Fund (MIF) of initial corpus Rs 5000 crore has been created with NABARD with major objective to facilitate the States in mobilizing the resources for expanding coverage of Micro Irrigation. Under the funding arrangement, NABARD lends to the States/UTs at 3% lower interest rate than the corresponding cost of fund mobilized by NABARD from the market. The interest subvention on the loan under MIF is borne by Centre under PDMC. Projects with loans under MIF worth Rs 4710.96 crore have been approved so far. Loans amounting Rs.2812.24 crore has been disbursed to States of Andhra Pradesh, Tamil Nadu, Gujarat, Punjab, Haryana and Rajasthan. The Ministry provides interest subvention on the loan availed by the States which is met from PDMC Scheme. As per the Budget 2021-22, the corpus of the fund is to be doubled to Rs.10000 crores. MIF is now merged with PDMC.
15.	Paramparagat Krishi Vikas Yojana (PKVY)	Paramparagat Krishi Vikas Yojana (PKVY) aims to increase soil fertility and thereby helps in production of healthy food through organic practices without the use of agro-chemicals. The scheme is implemented in a cluster mode with unit cluster size of 20 hectares. A group shall comprise minimum 20 farmers (may be more if individual holdings are less). Farmers in a group can avail benefit of maximum of 2 ha as per provision of PKVY. 25 such clusters are converted into one large cluster of about 500 ha area to facilitate marketing of organic produce. The scheme provides for an assistance of Rs. 31,500 per ha to states, out of which i.e., Rs. 15,000 is given as incentives to a farmer directly through DBT.

16.

Sub-Mission on Agriculture Mechanization (SMAM)

Sub Mission on Agricultural Mechanization (SMAM) is being implemented w.e.f April, 2014 which aims at catalyzing an accelerated but inclusive growth of agricultural mechanization in India with the objectives of Increasing the reach of farm mechanization to small and marginal farmers and to the regions where availability of farm power is low, promoting ‘Custom Hiring Centres’ to offset the adverse economies of scale arising due to small landholding and high cost of individual ownership, creating hubs for hi-tech& high value farm equipments, creating awareness among stakeholders through demonstration and capacity building activities and Ensuring performance testing and certification at designated testing centers located all over the country. Till date Rs. 6748.78 Crore have been released to State Governments, distributed more than 15,75,719 agricultural machinery & equipment’s including Tractors, Power Tillers, Self-Propelled Machineries and Plant Protection Equipment and established 23472 nos of Custom Hiring Centres, 504 nos of Hi-Tech Hubs and 20597 nos. of Farm Machinery Banks.

Promotion of Drone Technology under SMAM

Looking into the unique advantages of Drone technologies in agriculture, a Standard Crop Specific Operating Procedures (SOPs) released the for use of drones in pesticide and nutrient application in public domain on 20.04.2023, which provides concise instructions for effective and safe operations of drones.

From within the funds of SMAM, so far an amount of Rs.

138.82 crores have been released towards Kisan drone promotion, which include purchase of 317 Drones for their demonstration in 79070 hectares of land and supply of 461 drones to the farmers on subsidy and also supply of 1595 drones to the CHCs for providing drone services to the farmers on rental basis.

17.

Crop Residue Management

Crop Residue Management was implemented from 2018-19 in Punjab, Haryana, Uttar Pradesh and NCT of Delhi. Its objectives include protecting environment from air pollution and preventing loss of nutrients and soil micro-organisms caused by burning of crop residue through promoting in-situ management of crop residue. In this regard, it proposes to set up Farm Machinery Banks for custom hiring of in-situ crop residue management machinery. It also aims to creating awareness among stakeholders through demonstration, capacity building activities and differentiated information, education and communication strategies for effective utilization and management of crop residue. Rs. 3333.17 crore has been released under the scheme since inception and distributed more than 2,95,845 CRM machinery. CRM is now merged with

SMAM.

18.

Agro-forestry

Agro-forestry was conceived on the recommendation of the National Agro-forestry Policy 2014 to promote plantation on farmlands. The

restructured agro-forestry under RKVY is aimed to provide Quality

		Planting Materials (QPM) and the certification in order to promote planting of trees on farm land for improving the livelihood of farmers.
II (ii). Krishonnati Yojana
19.	National Food Security Mission (NFSM)	The Mission aims at increasing production of rice, wheat, pulses, coarse cereals (Maize and Barley) and Nutri-Cereals through area expansion and productivity enhancement in a sustainable manner in the identified districts of 28 States and 2 UTs (i.e., J&K and Ladakh). Other objectives include restoring Soil fertility and productivity at the individual farm level, enhancing farm level economy to restore confidence amongst the farmers and post harvest value addition at farm gate. Since the declaration of the International Year of Millets (IYM) 2023 by the UNGA in 2021, Government has taken a proactive multi stakeholder engagement approach to achieve the aim of IYM 2023 and taking Indian millets globally. 25 seed-hubs have been established to ensure availability of quality seed of latest improved varieties of Nutri cereals in the country. Millet missions have been launched across 13 states including Odisha, Tamil Nadu, Chhattisgarh, Assam, Karnataka, Madhya Pradesh, Maharashtra, Uttarakhand, Uttar Pradesh, Bihar, Himachal Pradesh, Gujarat and Rajasthan. More than 500 start-ups and 350 FPOs have been established and are operational in the millet ecosystem as of now.
20.	Sub-Mission on Seed and Planting Material (SMSP)	SMSP covers the entire gamut of seed production chain, from production of nucleus seed to supply of certified seeds to the farmers, to provide support for creation of infrastructure conducive for development of the seed sector, support to the public seed producing organisations for improving their capacity and quality of seed production, create dedicated seed bank to meet unforeseen circumstances of natural calamities, etc. For effective monitoring, efficiency and transparency covering Seed chain from Nucleus- Breeder-Foundation-Certified Seed, first phase of Seed Authentication, Traceability & Holistic Inventory (SATHI) portal was launched on 19^th April, 2023. SMSP is now merged with NFSM.
21.	National Mission on Edible Oils (NMEO)-Oil Palm	A new Centrally Sponsored Scheme namely, National Mission on Edible Oil (NMEO)-Oil Palm (NMEO-OP) has been launched by Government of India in 2021 in order to promote oil palm cultivation for making the country Aatamnirbhar in edible oils with special focus on North-Eastern States and A&N Islands. The Mission will bring additional area of 6.5 lakh ha under Oil Palm plantation with 3.28 lakh ha in north-eastern states and 3.22 in rest of India in next 5 years from 2021-22 to 2025-26.
22	Mission for Integrated Development of Horticulture (MIDH)	Mission for Integrated Development of Horticulture (MIDH), a Centrally Sponsored Scheme was launched during 2014-15 for holistic growth of the horticulture sector covering fruits, vegetables, root and tuber crops, mushrooms, spices, flowers, aromatic plants, coconut, cashew, cocoa and Bamboo. Major components include

		plantation infrastructure development, establishment of new orchards and gardens for fruits, vegetables, spices and flowers, rejuvenation of unproductive, old, and senile orchards, protected cultivation, promotion of organic farming, pollination support through bee keeping, horticulture mechanization, post-harvest management (phm) and marketing infrastructure etc. Under MIDH since 2014-15 to 2023-24 (as on 31.10.2023) an additional area of 12.95 lakh ha. of identified horticulture crops has been covered, 872 nurseries established for production of quality planting material, 1.41 lakh ha. of old and senile orchards has been rejuvenated, 52069 ha. been covered under organic practices and 3.07 lakh ha. has been covered under Protected Cultivation.
23	National Bamboo Mission (NBM)	The Scheme is implemented in 23 States and 1 UT (J&K) through the State Bamboo Missions (SBM)/ State Bamboo Development Agency (SBDA).NBM mainly focus on the development of complete value chain of the bamboo sector. It is envisaged to link growers with consumers with a cluster approach mode. Under NBM, 367 Bamboo Nurseries established, 212 bamboo Nurseries Accredited by the State Level Accreditation Committees, 46000 ha bamboo plantations established in non-forest Government & private lands, 81 units for bamboo primary processing established, 416 units established for value addition and product development, and capacity building for 15000 persons including farmers, artisans and entrepreneurs. NBM is now merged with MIDH.
24	Integrated Scheme for Agriculture Marketing (ISAM)	ISAM supports state governments in governing the agricultural produce marketing through creation and improvement of market structures, capacity building and generating access to market information. During 2017-18, National Agriculture Market Scheme popularly known as e-NAM scheme has also been made part of the same. National Agriculture Market (e-NAM) is a pan-India electronic trading portal which networks the existing APMC mandis to create a unified national market for agricultural commodities. 1389 mandis of 23 States and 04 UTs have been integrated to e- NAM platform and more than 1.76 Crore Farmers & 2.5 Lakh traders have been registered on e-NAM portal.
25	Mission Organic Value Chain Development for North Eastern Region	The MOVCDNER aims at development of commodity specific, concentrated, certified organic production clusters in value chain mode to link growers with consumers and to support the development of entire value chain starting from inputs, seeds, certification, to the creation of facilities for collection, aggregation, processing, marketing and brand building initiative in Northeast Region (Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, and Tripura). Since 2015-16 (as on 06.12.2023), Rs 1035.17 crore has been released, 379 FPO/FPCs created covering 189039 farmers and 172966 ha area.

Sub-Mission on Agriculture Extension (SMAE)

The scheme aims at making the extension system farmer driven and farmer accountable by disseminating technology to farmers through new institutional arrangements viz. Agricultural Technology Management Agency (ATMA) at district level to operationalize extension reforms in a participatory mode. Digital initiatives taken up in agricultural extension include;

VISTAAR - Virtually integrated Systems To Access Agricultural Resourcs being developed as a DPI for Agriculture Extension
Apurva AI- Capturing farmer innovations- Acts as a peer to peer learning Platform and provide content for advisory retrieval through VISTAAR Bot and also for impact Assessment of schemes (AIF completed)
Wadhwani- Krishi 24X7 for Realtime News monitoring, Tamil language and image-based cotton pest identification to be plugged in with FLEW/farmer profile mapping
Kisan Call Centre - Integration with VISTAAR and other IT applications and with Kisan Sarathi (ICAR) for direct contact with Agri experts
RAWE- Integration of Agri students for behavioral interaction through VISTAAR Bot and Feedback system
IMD- Weather forecast integrated through DAMU along with advisory delivery through VISTAAR
NRLM- Decentralised Extension Mechanism ( Krishi Sakhi, Pashu Sakhi , Matsya Sakhi etc) - Capacity building on Digital Extension -VISTAAR

Digital Agriculture

The scheme aims to improve the existing National e- Governance Plan in Agriculture (NeGPA) by developing a digital public infrastructure for agriculture that will be built as an open source, open standard and interoperable public good to enable inclusive, farmer-centric solutions through relevant information services for crop planning and health, improved access to farm inputs, credit and insurance, help for crop estimation, market intelligence, and support for the growth of Agri Techs industry and start-ups.

AgriStack architecture has the following foundational layers: -

Core registries
Base databases
Farmers Database: Farmers ID linked with land records
Geo-referencing of plots
Crop Survey, Crop planning and
Soil Mapping, Soil Fertility
Unified Farmers Service Interface for state, Pvt. Players
Data Exchange

This information was given by the Union Minister of Agriculture and Farmers’ Welfare, Shri Arjun Munda in a written reply in Rajya Sabha today.

******

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Agriculture

FISCAL RESPONSIBILITY AND BUDGET MANAGEMENT ACT, 2003

(Act No. 39 of 2003)

1 (26th August, 2003)

THE FISCAL RESPONSIBILITY AND BUDGET MANAGEMENT ACT, 2003 ACT No. 39 OF 2003

1. Short title, extent and commencement.—

3. Fiscal policy statements to be laid before Parliament.—

4. Fiscal management principles.—

5. Borrowing from Reserve Bank.—

6. Measures for fiscal transparency.—

7. Measures to enforce compliance.—

8. Power to make rules.—

13. Power to remove difficulties.—

FISCAL RESPONSIBILITY AND BUDGET MANAGEMENT RULES, 2004

THE FISCAL RESPONSIBILITY AND BUDGET MANAGEMENT RULES, 2004 NOTIFICATION No. G.S.R. 395(E)

1. Short title and commencement.—

6. Disclosures.—

9[8. Review of compliance by the Comptroller and Auditor General of India.—

#Form F-1 [See rule 4]

A. Fiscal Indicators – Rolling Targets

C. Assessment of sustainability relating to -

D. Fiscal Policy Strategy Overview:

E. Fiscal policy Strategy for the ensuing financial year:

F. Strategic priorities for ensuing year:

G. Rationale for Policy changes:

H. Policy Evaluation:

#Form F – 2 [See rule 4]

1. Overview of the Economy:

2. GDP Growth:

3. External Sector:

4. Money, Banking and Capital Markets:

5. Central Government Finances:

6. Prospects:

Economic Performance at a Glance

#Form F-3 [See rule 4]

A. MEDIUM-TERM EXPENDITURE PROJECTIONS (Major category wise)

B. ASSUMPTIONS UNDERLYING THE MEDIUM TERM EXPENDITURE PROJECTIONS

a. Salaries

c. Interest Payments

e. Defence

2. Capital Expenditure

b. Road Transport and Highways

d. Other Capital Expenditure and the underlying expenditure priorities.

D. MEDIUM-TERM EXPENDITURE PROJECTIONS FOR SELECT SCHEMES (on net basis)

#Form D – 1 [See rule 6]

(principal taxes)

#Form D – 4 [See rule 6]

#Form D-5 [See rule 6]

Schemes for Welfare of Farmers

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Cultural Heritage of India,

1

(26^th August, 2003)

^#Form D – 1 [See rule 6]

^#Form D – 4 [See rule 6]

^#Form D-5 [See rule 6]