Seeking a novel solution to the agricultural problems in the state, Chhattisgarh chief minister Raman Singh has brought a separate ‘agriculture budget’ allocating Rs 6,244 crore for the farming sector.
Mr Singh has promised to usher in rural revolution on the strength of cooperative movement which is already strong in the state. In this budget he is trying to implement several rural development projects with the help of cooperatives.
The amount allocated for agriculture in the unusual budget accounts for about 17 percent of the state budget.
There is general acknowledgement that the exclusive agriculture budget will greatly speed up the economic development of Chattisgarh.
The one off budget has slashed the rate of interest on short term agriculture credit from three to one per cent and this reduction will apply to the cooperative loans as well.
Raman Singh is also credited with devising a unique model of paddy procurement through cooperatives.The model was such a great hit that many states including Bihar,West Bengal and others followed this model.