Budget Expectation – focuses on Agri research, fertilizer subsidies, fight against climate change
On June 21, farm organisations and experts met with Finance Minister Nirmala Sitharaman in New Delhi to advocate for increased investment in agricultural research, rationalisation of fertiliser subsidies, and infrastructure development to strengthen the sector’s resilience to climate change.
The two-and-a-half-hour meeting saw calls to increase the Indian Council of Agricultural Research’s (ICAR) budget from ₹ 9,500 crore to ₹ 20,000 crore.
MJ Khan, Chairman of the Indian Chamber of Food and Agriculture (ICFA), emphasized the importance of significant investment in agriculture research and development to promote sector growth and increase farmer incomes.
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Experts at the meeting advocated for the consolidation of all agriculture-related subsidies for transfer through Direct Benefit Transfer (DBT), and proposed an increase in the retail price of urea, which remains unchanged since 2018. They also emphasized the use of subsidies to promote biofertilizers and foliar fertilisers.
The meeting was attended by prominent figures such as former CACP chief and agricultural economist Ashok Gulati, senior agriculture journalist Harish Damodaran, and representatives from the National Institute of Agricultural Economics and Policy Research and the United Planters’ Association of Southern India.
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