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Farmers got 15.23 lakh agri (2040 per cent), reduction in labour Despite launching 14 production-linked
(2030 per cent), improvement in ger- incentive schemes, India attracted
machinery under Central
mination rate (725 per cent), increase $70.97 billion FDI in FY23, down from
scheme since 2014-15 in cropping intensity (520 per cent), 84.8 billion in FY22.
and increase in crop yield (1323 per
The Centre has provided 15.23 lakh The share of the 10 major countries in
cent)," he said.
agricultural machinery and equipment inward remittances to India, based on
to farmers under the Centrally spon- a survey conducted by the Reserve
sored scheme "SubMission on Agricul- Remittances to India by Bank of India for 2020-21, showed that
tural Mechanisation" (SMAM), accord- the USA was the top source with a
NRIs grew 26% to $112.5
ing to Narendra Singh Tomar, Union share of 23.4% in total remittances. It
Agriculture and Farmers' Welfare Min- billion in FY23 was followed by UAE with 18%, UK
ister. Remittances to the country by non- (6.8%), Singapore (5.7%) and Saudi
Arabia (5.1%).
Under the scheme, 15,23,650 agricul- resident Indians rose 26% on year to
about $112.5 billion in FY23, under-
tural machinery and equipment have Private remittances are a major boost
been provided to the farmers. scoring the surge in demand for Indian to India's current account, even as the
professionals globally after the pan- country's merchandise trade often re-
He said 43,954 custom hiring centres/
demic. sults in a deficit.
hitech hubs/farm machinery banks
have been established. Remittances to India were $89.1 billion
in FY22. India continues to be the top Rs. 1.1lakh crore GST dent
Stating that agricultural mechanisation
recipient of remittances globally for
and crop productivity have a direct from invoice fraud
the last several years.
correlation, he said agricultural The government has registered over
mechanisation saves time and labour, The latest data from the finance min- 26,250 cases of GST invoice fraud
increases utilisation efficiencies of vari- istry indicates that the trend of sus- across the country, with the estimated
ous costly inputs, reduces drudgery, tained and fast-paced increase in "per- amount detected pegged at Rs.
reduces postharvest losses, and boosts sonal transfers" to India, which was 1,15,457 crore between 2018-19 and
crop output and farm income. interrupted during FY21 due to the 2022-23, the finance ministry informed
pandemic, has not only resumed but the Lok Sabha.
"It has been found that agricultural
also been buttressed.
mechanisation in India leads to saving Responding to a question, junior min-
in seed (1520 per cent), saving in fer- The surge in remittances is at a time ister for finance Pankaj Chaudhary said
tilizer (1520 per cent), saving in time when FDI flows across national borders that so far, 1239persons have been
(2030 per cent), reduction in weed seem to have slowed. arrested and the realisation from

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