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This was stated by the Union Minister of Agriculture and Farmers Welfare Shri Radha Mohan Singh today at the in-session meeting to discuss Integrated Farming Systems (IFS) for livelihood security and enhanced income of the farmers.
He highlighted the Economic Survey of India 2017-18 tabled in Parliament which indicates that over a period of 10 years, the share of income of farmers from crop production increased by only 1 while it increased by 7 for livestock.
Increased ethanol blending in petrol has many benefits including reduction in import dependency, support to agricultural sector, more environmental friendly fuel, lesser pollution and additional income to farmers.
The farmer friendly initiative will give additional return to the farmers of Rs 62,635 crore by way of increasing MSP of notified crops to at least 50 per cent return over cost of production and will aid in doubling farmers income.
Reiterating the Union Government's commitment to double incomes of farmers by 2022, he said this requires focus on fisheries, animal husbandry, horticulture, fruits and vegetables.
Under the Credit Linked Subsidy Scheme of the PMAY, the middle-income group families with income upto 18 lakh per annum are being funded for houses for the first time.
Referring to several measures taken in the past to alleviate the tax burden on small and medium income earners, the Minister said, Those having annual income upto Rs. 5 lakh are not required to pay any income tax.
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