Budget supports agricultural research & farmers, D Narain

16 Mar '12

2 min read

Mr D Narain, India Region Lead of Monsanto India Limited said that Budget proposals for 2012-13 are positive and progressive and it should help generate farmer-led 'inclusive' growth for the agricultural sector.

The provision of a weighted deduction of 150 % on expenditure incurred for agri-extension services will facilitate growth in agricultural sector. With this all stakeholders engaged in extension of research will be encouraged to invest in the up gradation of cultivation/agricultural practices for improved returns to the farmers.

Similarly, an increased allocation of funds to State Agricultural Universities will enhance the level of research currently underway.

Given the challenge of water scarcity, the focus on micro-irrigation and drip irrigation schemes with allocation of Rs. 14,242 crores is a big step forward and we believe if implemented well will give a fillip to yield and will increase farm incomes.

Similarly, the increased targets for farm credit and the continuation of interest subvention to farmers for crop inputs, if operationalized well, will help farmers access easy credit, encouraging them to use the best farm technologies and inputs.

While we are hopeful that the measures announced by the FM will give much needed boost to the agricultural sector, concerted efforts will be required towards sustained policy support, economic incentives and clear regulatory framework to achieve the desired growth rate in agriculture and make Indian agriculture globally competitive.

Monsanto India Limited

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