GST charged on agri inputs can be cut
Budget 2025: The second Union Budget of the third term of Prime Minister Narendra Modi will be presented on February 1, 2025. Finance Minister Nirmala Sitharaman will start presenting the budget for the financial year 2025-26 in Parliament from 11 am. Since coming to power, PM Modi’s government has been busy increasing the income of farmers. It is believed that like previous years, this year too many big announcements can be made for the farmers. The entire focus of the government is on increasing the income of farmers. Let us know what big announcements can be made for farmers in this budget.
Kisan Credit Card
Finance Minister Nirmala Sitharaman can give a big gift to the farmers in this budget by announcing an increase in the limit of Kisan Credit Card (KCC). The government can increase the existing limit of KCC from Rs 3 lakh to Rs 5 lakh. Farmers are expected to benefit greatly from this. By increasing the KCC limit, farmers will be able to invest more to increase their earnings.
GST on agri inputs
For the financial year 2025-26, the government may cut the GST charged on agri inputs. GST is charged at different rates on seeds and fertilizers used in the cultivation of different crops. As part of its efforts to increase the income of farmers, the government may reduce the GST charged on them.
agricultural schemes
In the last budget, the government had allocated Rs 65,529 crore for agriculture-related schemes. However, in this budget the government can increase the allocation for agricultural schemes by 5 to 7 percent.
Nirmala Sitharaman will present her 8th budget
This will be the 8th budget of Nirmala Sitharaman. This will be the second budget after PM Narendra Modi becomes Prime Minister for the third time. The first full budget of PM Modi’s third term was presented in July last year, after he formed the government with his allies in June 2024.
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