Budget 2023/2024- Agricultural Sector

The Mauritius budget 2023-2024 took place on Friday 2nd June 2023. Accordingly, Dr. Padayachy, the financial minister who claims "Agriculture is crucial to our economic strategy" amended various measures which can be advantageous to the plant industry. Firstly, they will provide Rs 2 billion to support existing and new developments in the sector. Some grants are being extended furthermore to boost up the agricultural sector in Mauritius. These grants are: -50 percent, up to a maximum of Rs 500,000 for the construction of up to two sheltered farms-50 percent subsidy for purchase of fertilisers; and-75 percent subsidy on potato seeds to SMEs and cooperatives. Moreover, grants such as equipment purchase by small planters are increasing from Rs 150,000 to Rs 250,000 to encourage them in their bad days of agriculture. The grant to cooperatives for acquisition of equipment to boost local production from Rs 250,000 to Rs 300,000. Besides, new measures are taken for small planters and they are:- 75 percent subsidy on seeds for Cabbage, Calabash, Pumpkin, Cucumber and Carrot- 50 percent grant up to a maximum of Rs 300,000 for SMEs and cooperatives engaged in potato processing- Rs 200,000 grant for the setting up of a seedling production unit by cooperative societies The government is taking good care for households' plantations as well. They are increasing the maximum grant for micro gardens from Rs 15,000 to Rs 25,000.To sustain the dynamism in the tea sector, they will increase the winter allowance to tea growers by 25 percent to Rs 2.50 per kg. Through the budget, the government has come up with more agricultural measures. Source: chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/

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