Finance minister Nirmala Sitharaman announced an ‘Agriculture Accelerator Fund’ Wednesday to “encourage agri-startups by young entrepreneurs in rural areas”. 

The fund is a part of the government’s efforts to incentivise agriculture and was mentioned by FM Sitharaman during her 2023 budget speech.

“The fund will aim at bringing innovative and affordable solutions for challenges faced by farmers. It will also bring in modern technologies to transform agricultural practices, increase productivity and profitability,” said FM Sitharaman. 

The finance minister added that the Union government will increase the agriculture credit target. 

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