The Union Budget for 2023-24 presented by Finance Minister Nirmala Sitharaman on Wednesday has portrayed a positive outlook for the agriculture and animal husbandry, dairy and fisheries sectors and the proposals will result in long-term growth that will give greater results in the coming years, industry officials said.
"The Budget has proven to showcase that the future of the agriculture sector in the country is bright, with its well-researched, and nuanced focus towards the sector," said Karthik Jayaraman, Co-Founder and Managing Director, WayCool Foods and Products Ltd, a food and agri-tech platform.
Welcoming Sitharaman's announcement on the government providing digital public infrastructure for agriculture, enabling an open-source, open-standard, and inter-operable public good encompassing farmer-centric solutions, Jayaraman said the move will improve access to farm inputs for the farmers whilst also boosting market intelligence, thereby, also providing support to agri-tech and start-up growth.
He said the launch of the Agriculture Accelerator Fund will provide ample relief to the industry, in terms of encouraging young entrepreneurs towards the sector while also bringing in innovative and affordable solutions to address the challenges faced by farmers, especially in terms of enhancing profitability and equipping modern technology.
Moreover, disease infestation has been a dire problem affecting 35 per cent of total crop productivity, the Atmanirbhar clean plant programme with a budget allocation of Rs 2,200 crore will offer farmers access to the availability of disease-free, clean planting materials, benefitting crop yield in large numbers, Jayaraman added.
"We are glad to hear a number of farmer-friendly initiatives by Finance Minister Nirmala Sitharaman which undoubtedly will support our agricultural economy and accelerate growth amongst other sectors such as animal husbandry, dairy and fisheries," said B. Soundararajan, Chairman, Suguna Group.
He said the Agriculture Acceleration Fund would be extremely useful in stimulating agricultural start-ups in rural areas through a collaboration between the farmers, state, and the sector.
"Overall, investment in resources and modern technology in these domains will surely contribute in the formation of long-term growth that will give greater results in the coming years," Soundararajan said.
Mistake that benefits no one: World leaders react to Trump's 'reciprocal tariffs'
As US President Donald Trump signed an executive order on the so-called "reciprocal tariffs," the world reacted sharply against the decision, with some calling it a "mistake that benefits no one" while others called it a violation of Washington's obligations under the World Trade Organization (WTO).
Indian pharmaceutical exports get reprieve from Trump’s reciprocal tariffs
Because of the importance of India’s pharmaceuticals to US healthcare, those exports will get a reprieve from President Donald Trump’s reciprocal tariffs, according to the White House.
India stands less impacted by Trump tariffs than global peers: Industry
As US President Donald Trump announced reciprocal tariffs on dozens of countries, including India, industry experts said on Thursday that it appears India's export competitiveness to the US market stands far less impacted on a relative basis compared to global peers.
IAF pilot killed, another critical as Jaguar fighter jet crashes in Gujarat
An Indian Air Force (IAF) pilot lost his life, while another sustained critical injuries after their two-seater Jaguar fighter jet crashed near Gujarat's Jamnagar Airfield, the IAF confirmed on Thursday.
PM Modi emplanes for Thailand; to attend BIMSTEC summit
Prime Minister Narendra Modi on Thursday emplaned for Thailand on a state visit to attend the 6th BIMSTEC Summit, with his visit also set to bolster bilateral relations between New Delhi and Bangkok.
Tripura CM stresses promoting NE states' potential to attract investment
Tripura Chief Minister Manik Saha on Wednesday said that the development of the communication process and system has generated a lot of investment potential, and therefore, more emphasis should be placed on promotion to attract investors in all the northeastern states.
Tripura has 94,723 Lakhpati Didis; 93,425 women to get similar status soon: Minister
Among the 4,75,582 Self Help Group (SHGs) members in Tripura, 94,723 women emerged as ‘Lakhpati Didis’ through their engagement in various enterprising units and 93,425 more women would be ‘Lakhpati Didis’ soon, Social Welfare and Labour Minister Tinku Roy said.
Bhavan’s Little Learners celebrate annual programme
The Bhavan’s Little Learners, Bordowali celebrated annual programme and organised prize distribution ceremony here at Agartala Rabindra Satabarshiki Bhavan on Wednesday.