Farm Experts Push for Mega Reforms in Pre-Budget Consultation

In a pre-budget consultation with Finance Minister Nirmala Sitharaman, farm organisations and experts advocated for higher investment in agricultural research, rationalisation of fertiliser subsidies, and infrastructure development to enhance the sector's resilience against climate change. Key demands included increasing ICAR's budget and promoting bio-fertilisers.

In a crucial pre-budget consultation with Finance Minister Nirmala Sitharaman, farm organisations and experts have put forth a compelling case for higher investment in agricultural research and infrastructure to fortify the sector against climate change.

During the two-and-a-half-hour meeting, stakeholders urged for a substantial hike in the budget allocation for the Indian Council of Agricultural Research (ICAR) from Rs 9,500 crore to Rs 20,000 crore. Chairman of the Indian Chamber of Food and Agriculture (ICFA), MJ Khan, emphasized the need for significant investment in agriculture R&D to drive growth and elevate farmers' incomes.

Experts also recommended transferring all agriculture-related subsidies through Direct Benefit Transfer (DBT), revising the retail price of urea, and promoting bio-fertilisers and foliar fertilisers via subsidies. They also suggested an overhaul of the agricultural policy, disbanding the MSP committee, and increasing the funding ratio for human resource development in centrally sponsored schemes from 60:40 to 90:10.

In the lead-up to the government's annual Budget for 2024-25 next month, these recommendations underscore the urgent need for reforms and enhanced investment in agriculture to tackle climate change and achieve the goal of doubling farmers' income.

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