Farmers, MSMEs urge finance minister for higher allocations for flagship schemes
have urged the government to reduce taxes on farm equipment and increase allocations for agricultural research and development and a flagship programme meant to support farmers.In a meeting with Union finance minister Nirmala Sitharaman on Friday as part of consultations ahead of the annual budget for 2024-25, they also urged higher allocations to strengthen the Agricultural and Processed Food Products Export Development Authority (APEDA), a government export trade promotion body.The upcoming full-year budget is expected to be presented in July.India’s agriculture sector grew at a mere 1.4% in financial year 2023-24, much below its pre-pandemic decadal average of 4.4%, due to erratic monsoons. The sector is expected to improve in the current fiscal year because of anticipated normal monsoons and a favourable base effect.Agricultural stakeholders at the meeting on Friday also urged the government to strengthen trade and exports post-harvest management, develop districts as export hubs, establish boards for each agri-commodity under the private sector, and fund global market access programmes.“We have suggested an acceleration of agriculture growth rate through a substantial increase in agricultural R&D up to ₹20,000 crore from ₹9,500 crore," said M.J.
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