Business News | Union Budget: Govt to Launch Coconut Promotion Scheme, Boost Cashew and Cocoa Sectors
Get latest articles and stories on Business at LatestLY. Speaking while presenting the Union Budget 2026-27, Sitharaman said the scheme will focus on major coconut-growing states and include measures such as replacing non-productive trees with new, high-yielding saplings.
New Delhi [India], February 1 (ANI): Union Finance Minister Nirmala Sitharaman on Sunday proposed a Coconut Promotion Scheme aimed at increasing production and improving productivity to boost India's competitiveness in coconut cultivation.
Speaking while presenting the Union Budget 2026-27, Sitharaman said the scheme will focus on major coconut-growing states and include measures such as replacing non-productive trees with new, high-yielding saplings.
"To further enhance competitiveness in coconut production, I propose a coconut promotion scheme to increase production and enhance productivity through various interventions, including replacing non-productive trees with new saplings or plants of varieties in major coconut-growing states," Sitharaman said.
She also announced a dedicated programme for Indian cashew and cocoa with the objective of making India self-reliant in raw cashew and coconut production and processing, while enhancing export competitiveness.
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"A dedicated program is proposed for Indian cashew and cocoa to make India self-reliant in raw cashew and coconut production and processing, enhance export competitiveness and transform Indian cashew and Indian cocoa into premium global brands by 2030," Sitharaman said.
She asserted that sandalwood is closely linked to India's social and cultural heritage. Our government will partner with state governments to promote focused cultivation and post-harvest processing to restore the glory of the Indian sandalwood ecosystem.
"Sandalwood is closely linked to India's social and cultural heritage. Our government will partner with state governments to promote focused cultivation and post-harvest processing to restore the glory of the Indian sandalwood ecosystem," Sitharaman said.
She said sandalwood is deeply connected to India's social and cultural heritage and announced that the Centre will partner with state governments to promote targeted cultivation and post-harvest processing to revive the Indian sandalwood ecosystem.
"To rejuvenate old, low-yielding orchards and expand high-density cultivation of walnuts, almonds, and pine nuts, we will support a dedicated program to enhance farmer incomes and in bringing value addition by engaging youth," she added.
She also announced a dedicated programme to rejuvenate old and low-yielding orchards and expand high-density cultivation of walnuts, almonds and pine nuts.
In the animal husbandry sector, Sitharaman said efforts will focus on generating quality employment in rural and peri-urban areas through a credit-linked subsidy programme. The government will also work on scaling up and modernising livestock enterprises, creating integrated livestock, dairy and poultry value chains, and encouraging the formation of livestock farmer producer organisations.
For high-value agriculture, she said support will be extended to crops such as coconut and sandalwood to diversify farm output, increase productivity, boost farm incomes and create new employment opportunities. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)