Budget 2016-17: Highlight on rural economy, infrastructure, and banks

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NEW DELHI: The central government is readying a system to highlight on infrastructure, agriculture including restoring the health of the banking system as well as specific measures to ease stress in the rural economy as part of the 2016-17 Budget.

According to the beginning Budget discussions, the government plans to highlights on these crucial areas to fire up growth and tackle the growing unease in the farm economy.

We will more attention towards irrigation and agriculture. We are working rapidly. We will have to address the problems in the rural economy which has borne the brunt of two continuously droughts,” said a senior official.

“This is a very very important  Budget for the central  government,” he said, highlighting the need to take effective measures to revive vital sectors and overall growth.

The government has already allocated Rs 5,300 crore to support micro-irrigation, watershed development and the Pradhan Mantri Krishi Sinchai Yojana and has urged states to chip in substantially in this vital sector. Sources say this effort will be stepped up in the current Budget.

The rural economy, a top driver of demand and a support for the huge economy, has taken a knock from the two up and down seasons of defective monsoon rains.

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