Industry Odisha Bureau, Aug 19: Amid the reportedly 13% monsoon rainfall deficit as of August 16 this year as well as the El Nino weather concerns, the Government of India (GoI) has reportedly front-loaded Rs 29,593 crore in the first quarter (Q1) of the ongoing fiscal year 2026-27 (FY27) to support farmers.
As per media reports, “This early spending represents 21% of the total annual agriculture budget and is directed towards fertilizer subsidies, which are essential for maintaining farm productivity. While the GoI has already utilised 38% of the annual budget for fertilizer subsidies by mid-August 2026, this strategic move aims to provide a safety net for farmers and rural households ensuring access to subsidised inputs despite the rising global fertilizer prices.”
Media reports added, “This strategic move also aims to ensure that farmers have timely access to income support, crop insurance, credit and farm infrastructure, to help limit the impact of adverse weather on farm incomes and, in turn, overall rural consumption.”
Media reports, quoting the data of Department of Expenditure (DoE) under the GoI’s Ministry of Finance, have stated that, “The Ministry of Agriculture and Farmers Welfare (MoAFW) has spent 21%, or Rs 29,593 crore, during April-June, 2026 against its full-year allocation of Rs 1.41 trillion in comparison to the 9% of Rs 12,297 crore spent in the same period last year (2025) against the fiscal (FY26)’s Rs 1.38 trillion allocation.”
Media reports added that, “The faster pace of spending is due to the GoI’s preparedness for a weak and uneven monsoon along with the El Nino impact forecasts, including the contingency plans for vulnerable districts and availability of seeds, fertilizers and fodder, since agriculture and allied sectors account for about 16% of India’s gross domestic product (GDP), with nearly 46% of the country’s workforce dependent on agriculture.”
So far the latest data of the India Meteorological Department (IMD) is concenred, it has been reported that, “India has a cumulative monsoon rainfall deficit of 13% as of August 16, while the IMD has cut its forecast for this year’s south-west monsoon rain to 90% of the long-period average (LPA), down from 92% projected earlier.”
Media reports have also stated that, “Replying to a Lok Sabha query on August 12 in the recently concluded Monsoon Session of Parliament, Union Minister of State (Independent Charge) for Science and Technology and Earth Sciences Dr Jitendra Singh said 47% of India’s districts have faced deficient or large-deficient rains as of early August.”
