India, Feb. 1 -- The chief economic adviser termed agriculture "the sector of the future" at the release of the Economic Survey 2024-25. So, the expectations were high that the FY26 Budget would underline a strategic vision for the sector. Finance minister Nirmala Sitharaman's budget speech and the budget document don't disappoint on this count.

Just to recall, the budget for the department of agriculture and farmers' welfare under the Union agriculture ministry for FY26 stands at Rs.1.27 lakh crore. Half of this has been allocated to the PM Kisan scheme, which offers direct unconditional cash transfers to land-owning farmers. A third of the remainder goes to the interest subvention scheme for concessional short-term credit to farmers. T...