New Delhi: The Union Finance Minister, Nirmala Sitharaman, announced in the Budget 2026-27 that the government will provide significant incentives for high-value crops such as coconut, sandalwood, cocoa, and cashew in coastal regions to enhance farmers’ income.
Support will also be extended to areca nut cultivation in the Northeastern states and to nuts like almonds, walnuts, and deodar in the country’s hilly areas.
The Finance Minister stated that this proposal forms part of a broader roadmap in the budget aimed at fulfilling the third objective of increasing farmers’ income through targeted efforts focused on productivity enhancement and entrepreneurship.
Highlighting India’s position as the largest producer of coconut worldwide, she noted that nearly 30 million people depend on coconut for their livelihood. To boost competitiveness in coconut production, the government proposes the Coconut Incentive Scheme, which aims to increase output and improve productivity through various measures, including replacing old and unproductive trees with new plants and varieties in major coconut-producing states.
Further advancing the goal of raising farmers’ income, the budget has proposed a dedicated programme for Indian cashew and cocoa. This initiative seeks to make India self-reliant in the production and processing of raw cashew and cocoa, enhance export competitiveness, and establish Indian cashew and cocoa as premium global brands by 2030.
The government will collaborate with state governments to revive the Indian sandalwood ecosystem by promoting targeted cultivation and post-harvest processing.
To rejuvenate old, low-yielding orchards and promote high-density production of walnuts, almonds, and deodar, the budget proposes a dedicated programme aimed at increasing farmers’ income and engaging youth through value addition.
My name is Himanshu Tiwari. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including TECHNOLOGY, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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