Budget 2019: From food processing to investment in agriculture, here's what experts told Nirmala Sitharaman

Agriculture experts suggested the Finance Ministry to increase both private and public investments in the sector in order to guarantee a decent rise in the income of the farmers.

The suggestions by the experts came in the first pre-budget consultative committee meeting chaired by Sitharaman herself ahead of the Full Budget. (Image: FinMin/ Twitter)

New Delhi: Weeks ahead of the much-awaited Budget 2019 which is to be presented by the newly appointed Finance Minister Nirmala Sitharaman on July 5, agriculture experts expect the new Narendra Modi government to focus on boosting the income of farmers by promoting food processing and farm exports in the country. According to a report by news agency PTI, agriculture experts suggested the Finance Ministry to increase both private and public investments in the sector in order to guarantee a decent rise in the income of the farmers. The suggestions by the experts came in the first pre-budget consultative committee meeting chaired by Sitharaman herself ahead of the Full Budget. During the meeting, the Finance Minister also assured the committee members that farm sector issues, employment generation, and poverty alleviation are high on the agenda of the government. This was her first pre-budget consultation in the run-up to 2019-20 Budget with representatives of agriculture and rural development sectors. She is also scheduled to meet bankers and economists later.

The Union Minister of Finance & Corporate Affairs, Smt Nirmala Sitharaman @nsitharaman held the First Pre-Budget Consultation on Agriculture and Rural Development Sector in New Delhi today.@nsitharamanoffc

— Ministry of Finance (@FinMinIndia) June 11, 2019

During the meeting, Sitharaman focussed on the measures to boost economic and social infrastructure of rural sector and ways to eradicate unemployment and poverty through development of agriculture and allied sectors as well as non-farm sector. According to the official statement from Ministry of Finance, Sitharaman said that the concerns of agriculture sector are high on the priority of the present government.

The Finance Minister, Smt Sitharaman @nsitharaman reiterated that the concerns of Agriculture Sector are high on the priority of the present Government.

— Ministry of Finance (@FinMinIndia) June 11, 2019

Sitharaman also stressed upon encouraging startups which can help provide remunerative markets for agriculture products and supply it to the final consumers at reasonable prices. "The meeting discussed issues surrounding agriculture research and extension services, rural development, non-farm sector, horticulture, food processing, animal husbandry, fisheries and startups in agricultural sector among others, a ministry statement added further. During the meeting, representatives of the agricultural and rural development sectors suggested ways to boost investment and enhance market access to farmers and improve food processing sector and introduction of technology-intensive processes in non-farm sector. Other suggestions include incentivising organic manure for improving carbon content in soil, resolving Goods and Services Tax (GST) issues related to farmers producers' organisations, incentives for agro processing units in the border districts and enhancing investments in research and development (R&D).

In her Opening Remarks, the Finance Minister, Smt. Sitharaman @nsitharaman said that the Ministry will hold broad based consultations with different stakeholders from fisheries sector to bring about blue revolution by optimally using our maritime resources.@nsitharamanoffc

— Ministry of Finance (@FinMinIndia) June 11, 2019

The farm sector experts also suggested filling up of vacancies in agricultural universities, increasing investment in micro irrigation and solar pumps, financial incentives to states for implementing agricultural market reforms, and promotion of handlooms and handicraft in northeastern states. Suggestions for dairy sector also came in relating to tax and duty structure and improving Prime Minister Krishi Sinchai Yojna.