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Below the Budget Day Input Announcement on Agriculture By Soumyak Biswas, Partner, Food and Agribusiness, Management Consulting, BDO India

“The budget has emphasized structural changes in unlocking the value chain in the agriculture and allied areas. Thrust on R&D in collaboration with industry in PPP mode can significantly enhance productivity and bring much-needed innovation to the sector. Secondly, a marked difference in this budget is the clear focus on sustainable production driven by the promotion of natural farming in the sector. Despite being the leading producer of several crops, India lags in Agri exports globally. To harness the potential, the budget has laid significant thrust on promoting cluster development in horticulture products which can significantly boost the contribution of the sector to the national economy.
Given the predominance of small and marginal farmers in the country who lack scale, the announcement of the formulation of a National Cooperative Policy is expected to address issues related to scaling up, collectivisation and streamlining the value chain. Thrust on increasing self-sufficiency is reflected in the announcement for pulses and oilseeds which can help reduce the import bills.
Last but not least, the enablement of Digital Public Infrastructure can bring in much-needed efficiency in the value chain – which will give the Annadatas of the country access to resources, advisory and financial support, in the process creating a globally competitive food industry.”

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