Budget 2026: On Sunday (February 1), Union Finance Minister Nirmala Sitharaman unveiled the budget for the financial year 2026-27. This budget highlights the need to boost farmers’ income, proposing to offer technical assistance and modern solutions. The Finance Minister introduced a ‘Coconut Promotion Scheme’ aimed at increasing production and enhancing productivity to strengthen India’s position in coconut farming. The government is optimistic that this initiative will raise farmers’ income and make agriculture more lucrative.

While presenting the Union Budget for 2026-27, Sitharaman mentioned that the strategy will target key coconut-producing states and will involve actions like replacing unproductive trees with new, high-yield saplings.

Coconut Promotion Scheme introduced

To further boost competitiveness in coconut production, I am proposing a Coconut Promotion Scheme designed to increase output and improve productivity through various measures, including the replacement of unproductive trees with new sapling varieties in major coconut-producing regions, the Finance Minister stated.

Launch of programs for cashew and cocoa

He also revealed a specific program for Indian cashew and cocoa, aimed at achieving self-sufficiency in raw cashew and coconut production and processing, while also enhancing export competitiveness. Sitharaman noted that a dedicated program for Indian cashew and cocoa is being proposed to make India self-sufficient in raw cashew and coconut production and processing, boost export competitiveness, and elevate Indian cashew and cocoa to premium global brands by 2030.