Needed, a second green revolution

For the first time, the government seems to be acknowledging that there is need for a second revolution in agriculture. But it does not go b...

For the first time, the government seems to be acknowledging that there is need for a second revolution in agriculture. But it does not go beyond to show the way of achieving it. Apart from setting up an expert advisory council, there is little indication of the changes it wishes to bring about.

‘‘Agriculture is the life blood of our economy’’, Finance Minister Jaswant Singh said while presenting the Budget recognising it as one of the ‘panch priorities’.

Hike in urea prices ‘improper’: Ajit Singh
NEW DELHI: Agriculture Minister Ajit Singh termed the Budget ‘improper and inappropriate’. ‘‘The increase in fertiliser prices is improper and inappropriate, particularly when the farmers have been badly affected by severe drought. The price hike would place additional burden on the farmers groaning under the impact of crop loss during the last kharif. Rabi crop prospects also appear to be bleak.’’ (PTI) Story continues below this ad

One positive indicator for the farmers is a fillip to their credit needs. After the success of the kisan credit cards, FM said ‘‘We should not have a system wherein credit for cars is more easily available than farm equipment or tractors.’’ Private banks are to be encouraged to open branches. The post office has been identified as another franchise for agriculture credit.

The line on ‘de-bureaucratisation beyond regulation’ is what the farmers have been demanding which would mean that farmers would have better access to technological innovations in the sector.

This Budget addresses diversification, swift adoption of sunrise technologies and addresses the problems of land degradation and water logging.

For diversification, he has announced Rs 50 crore central sector scheme on hi-tech horticulture and precision farming. Various components of this scheme are for the use of hi-tech interventions like fertigation, use of bio-technological tools, green food production and hi-tech green houses. Precision farming technology aimed at judicious utilisation of land, water as well as time and the demonstration of these technologies will also be a part of this scheme.

Story continues below this ad

Custom duty on refrigerated trucks reduced from 25 per cent to 20 per cent for promoting food processing and transporting agricultural products. According to experts, these are not very substantial steps but will only help in the improvement of the working of the Agriculture Export Zones.

A price stabilisation fund of Rs 500 crore will become operational in 2003-04 for the plantation sector for the benefit of tea, coffee, and natural rubber growers. In addition, excise duty of Re 1 per kg of tea to be replaced by a cess of Re 1 per kg for a separate fund to develop, modernise and rehabilitate the tea sector.

Apart from this, what the sector urgently needs is international buyers and sellers which has not been indicated. There is also lack of clarity on who is going to bail-out the private sugar industries where the Budget talks of measures to be taken by the cooperatives and RBI to give some credit relief.

To give a fillip to animal husbandry and dairying, the basic custom duty on specified veterinary drugs has been reduced from 15 per cent to ten per cent. To promote marine industry, the custom duty on shrimp larvae feed has been reduced from 15 percent to 5 per cent with exemption from CVD.

India dismisses NATO chief’s claim of ‘Delhi now on phone with Moscow’ as ‘baseless’

India33 min ago

India denies NATO chief's claim that US tariffs on Russian oil are pushing PM Modi to seek clarification from Putin on Ukraine strategy. MEA calls statement "factually incorrect and baseless," urges NATO to take more responsibility. Trump's tariffs on India have led to Modi seeking clarification from Putin, says Rutte. Modi and Putin have discussed resolving the conflict peacefully.

View all shorts

Live Blog