FM flags high-value agriculture as key to boosting farm incomes, productivity and rural jobs
Targeted support for coconut, cashew, sandalwood, agarwood and hill-region nuts
Coconut promotion scheme and cashew–coconut programme to raise output, exports and build premium global brands by 2030
In her Budget FY27 speech on Sunday, Finance Minister Nirmala Sitharaman emphasised that high-value agriculture will be a key pillar in diversifying farm output, improving productivity, and creating new employment opportunities across rural India.
She announced focused support for high-value crops such as coconut, sandalwood and cashew in coastal regions, agarwood in the North East, and nuts including almonds, walnuts and pine nuts in hilly states.
1 January 2026
Get the latest issue of Outlook Business
Noting that India is the world’s largest producer of coconuts, with nearly 30 million people -- including about 10 million farmers -- dependent on the crop for their livelihoods, the finance minister proposed a dedicated Coconut Promotion Scheme. "The scheme will enhance productivity through targeted interventions, including the replacement of non-productive trees with high-yielding saplings in major growing states," FM said.
Further, a specialised programme for Indian cashew and coconut will aim to make the country self-reliant in raw production and processing, boost export competitiveness, and transform Indian cashew and coconut into premium global brands by 2030.
