May 27, 2024


Imagination at work

Status quo budget for agriculture and seed industry: FSII

Ram Kaundinya, Director Normal, Federation of Seed Sector of India (FSII) commenting on the funds reported that 2021-22 funds was “ status quo budget” for agriculture in basic and the seed market.

He reported that agriculture contributed appreciably to the successful struggle against Covid-19 but did not get the needed notice in the funds. No transformative measures have been proposed.

He reported, “ Investments in research in agriculture are not tackled, especially, given that research and innovation is a single of the six pillars of Aatma Nirbhar Bharat and there is a need to scale up non-public sector investments in agricultural research. There is an urgent need to move up investments in research into agri biotechnology, seed engineering and modern systems for farmers. Seed market was anticipating the restoration of two hundred per cent tax deduction of research costs, but it has not been met”.

Kaundinya additional that the market envisioned a major challenge to spend in scaling up domestic oilseeds creation via incentives for farmers, use of modern systems in crops like mustard, soybean and ground nut, and so on with an eye on lowering big imports of edible oils. “The market also envisioned some major announcement of financial investment to thrust up agricultural exports to 100B$ in the up coming 4-five yrs. A specific financial corridor and cluster solution investments would have been in order” he reported.

“ Enhance in agricultural credit to Rs. sixteen.54 lakh crores. Will enable farmers in accessing more credit. Infrastructure oriented funds. Rs. forty,000 cr for rural infrastructure is a good evaluate. Will enable villages and will indirectly profit farmers” Kaundinya additional. He welcomed move to raise import responsibility on cotton as a handy evaluate to enhance domestic selling prices.