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Fin Min urges start-ups to help market & distribute agri products

Published: Jun 11, 2019

By TIOLCORPLAWS News Service

NEW DELHI, JUNE 11, 2019: The Union Minister of Finance & Corporate Affairs, Ms Nirmala Sitharaman, started her Pre-Budget Consultations with different stakeholder Groups in connection with the forthcoming General Budget 2019-20 here today. Her First Meeting was with the stakeholder Groups from Agriculture and Rural Development Sectors. In her opening remarks, she 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. She stated that the concerns of Agriculture Sector are high on the priority of the incumbent Government. She stressed on the representation of the different Regions of the country so that their specific needs relating to these sectors can also be considered.

The Finance Minister mentioned that the Ministry would also hold broad based consultations with different stakeholders from fisheries sector to bring about blue revolution by optimally using Indian maritime resources. Ms Sitharaman also stressed upon encouraging start-ups which can remove the segmentation in agriculture market and help in providing remunerative markets for agriculture products and supplying it to the final consumers at reasonable prices. The main areas of discussion during the meeting included agriculture research & extension services, rural development, non-farm sector, horticulture, food processing, animal husbandry, fisheries and start-ups in agricultural sector among others.

During the meeting representatives of the Agricultural and Rural Development sectors submitted various suggestions to boost investment in agricultural sector and enhance market access to farmers. Suggestions were given to improve food processing sector and introduction of technology-intensive processes in non-farm sector. It was also suggested that solar energy may be treated as third crop to augment income of farmers. Incentivising and popularising usage of organic manure for improving carbon content in soil, resolving GST issues related to Farmers Producers Organisations (FPO), incentive for agro processing units in the border districts and enhancing investments in R&D in agriculture centre. Other suggestions include, filling up of vacancies in agricultural universities, increasing investment in micro irrigation and solar pumps, financial incentives to the states for implementing agricultural market reforms, promotion of handlooms and handicrafts in the North Eastern states for employment generation and enhancing rural income, creating of aggregators for farm equipment and promotion of non-IT related rural start-ups. Few suggestions for dairy sector were also submitted related to tax and duty structure and improving Prime Minister Krishi Sinchai Yojna (PMKSY).

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