Union Finance Minister Nirmala Sitharaman presented the Union Budget on February 1, 2026, with a special focus on the agriculture sector. She announced two major schemes specifically designed to help farmers growing coconut, cashew, and cocoa. The government aims to increase production and productivity while making India self-reliant in these sectors. These initiatives also plan to establish Indian products as premium brands in the global market.
What is the Coconut Promotion Scheme?
The Finance Minister proposed a new ‘Coconut Promotion Scheme’ to increase competition in coconut production. The primary goal of this scheme is to improve productivity through various modern methods. A major part of this plan involves replacing old and unproductive trees with new, high-yielding plant varieties in states that grow coconuts.
This step is crucial as India is one of the largest coconut producers globally, supporting millions of livelihoods. The Coconut Development Board is expected to play a key role in implementing this scheme on the ground. Farmers in major coconut-growing regions will benefit directly from the replantation drive.
Plans for Indian Cashew and Cocoa
A special program has also been proposed for Indian cashew and cocoa crops. The government wants to make the country self-reliant in the production and processing of raw cashew and coconut products. The main target is to turn Indian cashew and cocoa into premium global brands by the year 2030.
This program aims to boost export competitiveness so farmers can get better prices in international markets. The Directorate of Cashew and Cocoa Development will handle the implementation of these plans. While specific subsidy details are yet to be released, the focus remains on branding and increasing local processing capacity.
