Budget presents promising roadmap to strengthen agriculture and dairy sectors, say industry leaders
Agriculture and allied sector players termed the Interim Budget 2024-25 as a promising roadmap for strengthening agriculture, agrochemical, dairy sectors by encouraging investment in research and development, technology and warehousing that will empower farmers and their livelihood.
“The Interim Budget 2024-25 reiterates the government’s commitment to strengthening the ‘Annadata’ and backbone of our nation – our farmers. From direct financial assistance through PM-KISAN SAMMAN Yojana to expanding farmer-centric policies and promoting innovations, the budget paves the way for inclusive, sustainable growth in the agricultural sector,” Godrej Agrovet Managing Director Balram Singh Yadav said.
Parag Milk Foods Chairman Devendra Shah said with the focus on the agriculture sector, the announcement of a comprehensive program for dairy farmers, coupled with efforts to control foot and mouth disease, is a positive step.
“The commitment to promote indigenous breeds and fostering research and development in the dairy sector through government schemes lays the foundation for increased productivity and sustainable growth,” he added.
Warehousing services provider Sohan Lal Commodity Management (SLCM) Group founder and CEO Sandeep Sabharwal said that the impetus given to post-harvest activities in the Interim Budget is a welcome step.
“It is a positive move to encourage private-public partnerships and address the diverse ambit of post-harvest agricultural logistics, including storage, supply chain as well as primary and secondary storage. In addition to the one crore women already coming under the purview of Lakhpati Didis, the government now intends to incorporate 3 crore new Lakhpati Didis under the scheme, and we hope it transforms several lives in the Indian agri space across the rural parts of the country,” he added.
Deloitte India Partner and Consumer, Products and Retail sector Leader, Anand Ramanathan commented that the Interim Budget 2024-25, continues to support growth and productivity in agriculture through interventions in crop insurance, encouraging use of nano fertilisers, promoting self-sufficiency in oilseed production, and increasing investments in micro food processing.
“Also, from a protein standpoint – boosting dairy productivity and supporting sea food exports are some of the big areas of focus. These announcements will provide employment opportunities for the rural economy,” he stated.
Dhanuka Agritech Managing Director MK Dhanuka said, “The announcement to further encourage private and public investment in areas of post-harvest activities including aggregation, modern storage, efficient supply chains, primary and secondary processing and marketing and branding is a laudable step.” “The decision to promote the application of nano DAP on various crops in different agro-climatic zones is in line with the government’s vision of promoting technological advancement in the rural sector.” KC Ravi, Chief Sustainability Officer, Syngenta India and Chairman Crop Life India, said that the robust physical-digital-social infrastructure developed in the last decade has given the economy a good foundation for a Viksit Bharat by 2047.
Digital infrastructure and infusion of technology is imperative to not only sustain the momentum but also to take the agriculture growth story to its logical conclusion. he said.
Agritech start-up Otipy’s founder and CEO Varun Khurana said the encouragement for private and public investment in post-harvest activities is commendable, promising a more resilient and sustainable agricultural ecosystem.
“The commitment to modernise the farm sector, focusing on improved storage, efficient supply chains, and branding, reflects a strategic vision to enhance the overall efficiency and competitiveness of Indian agriculture.
These measures align with the contemporary needs of the sector and are crucial steps towards ensuring long-term prosperity for farmers and fostering growth in the agritech landscape,” he noted.
Insecticides India Managing Director Rajesh Aggarwal said the continuation of flagship schemes such as the PM Kisan Samman Yojana and PM Fasal Bima Yojana, providing direct financial assistance and crop insurance respectively, exemplifies the government’s dedication to safeguarding the livelihoods of our farmers.
“We are particularly encouraged by the emphasis on technology adoption and innovation in agriculture. The integration of 1,361 mandis into the Electronic National Agricultural Market, serving 1.8 crore farmers, is commendable. Furthermore, the budget’s focus on modern storage, supply chains, and branding, will encourage private and public investment in post-harvest activities,” he said.
Arya.ag co-founder and CEO Prasanna Rao commented that the Budget’s commitment to boost both private and public investment in post-harvest infrastructure will go a long way in enhancing the outcomes.
“It will not only lead to a reduction of losses but also elevate productivity. Additionally, the expansion of Nano DAP and the commitment to oilseed self-reliance are pivotal and significant steps in achieving sustainable agricultural advancement,” he added. — PTI