Budget 2022 Latest News

Livestock sector believes this budget will boost shrimp & milk output

Livestock sector believes this budget will boost shrimp & milk output

Livestock sector believes that the 2022 budget will boost the shrimp and milk production.

‘Reduced tariffs on certain shrimp aquaculture inputs to promote exports is a positive step that will assist to foster an entrepreneurial spirit and create jobs. Shrimp hatchery and feed production costs will be reduced, promoting sector expansion. The fisheries and aquaculture industries have enormous potential for providing employment and income’ According to Amit Saraogi, chairman of the CII Eastern Regional Council’s Livestock Taskforce.

The Confederation of Indian Industry Eastern Regional (CII ER) comprises of the states of Orissa, Chhattisgarh, Bihar, Jharkhand, and West Bengal. Also Read | Aquaculture technology start-up, selected for Google Startups Accelerator.

‘The increase in Livestock Health and Disease Control programme budget from ₹ 8.86 billion in RE (Revised Estimates) 2021-22 to ₹ 20.00 billion in BE (Budget Estimates) 2022-23 reaffirms the Government of India’s commitment to supporting livestock improvement. Reduction in alternative minimum tax rates for cooperative societies will favourably effect dairy cooperatives’ profitability, giving buffer for more Capital expenditures (CapEx) in dairy processing and passing on benefits to dairy producers,’ Sharad said.

However, although contributing 4.11 percent to GDP and 25.6 percent to overall farm GDP, cattle industry leaders believe the budget paid insufficient attention to the sector. Also Read | Dairy farming ever ending business opportunity!

‘We asked the government to set a minimum support price (MSP) for chicken, which would have benefited poultry farmers greatly. The sector also expected a feasible solution to reduce the ever-increasing raw material prices, which has plagued the already overburdened industry,’ Saraogi stated.

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