KATHMANDU: The government has allocated Rs. 55.97 billion for the Ministry of Agriculture and Livestock Development.

Presenting the budget for the fiscal year 2079/80 BS (2022/23 AD) in the joint sitting of the federal parliament on Sunday, Finance Minister Janardan Shama announced that Rs. 55.97 billion has been allocated for agriculture and livestock development.

The minister said imports of paddy, maize, wheat and vegetables would be reduced by 30 percent.

Similarly, barren and unused land would be made available to farmers and cooperatives on lease for cultivation, agricultural technicians would be placed in all wards, minimum support price would be fixed and agricultural produce would be bought by the government, he said.

Likewise, Minister Sharma said that the farmers will be provided with seeds, fertilizers and technology. In addition, concessional loan and agricultural insurance schemes would be expanded to develop the agriculture sector.

He announced that Rs 1 billion has been allocated as seed funding of Farmers’ Pension Scheme.

He said that farmers would be encouraged to cultivate cash crops. He added that an additional Rs 50 million would be made available as subsidy to the local level working for agricultural transformation.