Agriculture industry stakeholders hail budget 2018

The decision on MSP, promoting cluster-model approach, along with the focus on bamboo, food processing, and market development has been lauded by the agriculture stakeholders

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New Delhi: “The Union Budget 2018 is very encouraging for the agriculture sector with several measures to ensure better post-harvest prices to farmers. The laudable intent of the Union Government in doubling farmer’s income in the medium terms is amply expressed through key measures in this budget, mentioned Mr Raju Barwale, Chairman and Managing Director, Mahyco in his reaction on the union budget presented by the Finance Minister, Arun Jaitley on 1st February 2018.

Mr Barwale stated that removing uncertainty in prices of agricultural produce is critical to give impetus to Indian agriculture. Government’s proposal of 1.5x Minimum Support Price (MSP) for all Kharif crops has the potential to provide 50% gross margin to farmers and this will send a positive signal to market.

“The government has shared its plan to fix a structure to ensure that farmers receive MSP when market prices are lower than MSP in consultation with Niti Aayog and state governments, Mr Barwale said adding, “This is another important step. Better price realization will fuel improved investment by farming community in quality inputs and practices to increase crop yield. With these measures, the entire ecosystem will be encouraged to invest in infrastructure and research and development initiatives to bring the best of innovations to Indian farmers.”

Mr Hanmantrao Gaikwad, Chairman and Managing Director, BVG Life Sciences Limited expressed happiness over the emphasis on agriculture, and allied sectors of fisheries and animal husbandry.

“Doubling income of farmers from the same land, by 2022 is an ambitious target. Now this will be within reach thanks to this budget allocation. By linking MSP to production cost, promoting cluster-model approach, along with the focus on bamboo, food processing, and market development, I see that the government is aiming to drive professionalism, standardization, and specialization in the agriculture sector. In the long run, this will strengthen the agriculture and allied sectors, and bring in more jobs into both rural and urban economies,” Mr Gaikwad said.