3 key things that Indian agriculture industry is expecting in Budget 2015
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It is a known fact that India is an agrarian economy. No wonder, agriculture remains one of the key focus areas for the Indian Finance Minister while drafting the yearly budget. Do you know what his plans for this industry are this year? Well, the industry doesn’t know that either. We got in touch with few industry experts to know what their expectations are from the
Reforms
People in this industry are hoping that with an increasing focus on developing agriculture sector to meet the food security demand in the country, the government will also introduce reforms in agricultural practices.
MK Dhanuka, managing director,
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Financial assistance
The sector has been facing severe credit crunch since the beginning and players in this industry have time and again emphasized on the need for more pro-active measure to boost financial assistance to the farmers. “Agricultural credit is another area of concern. Rural areas have very low penetration of institutional financial credit,” stated Dhanuka.
Besides, the sector has also failed to attract any substantial investments in recent times. Even Sandeep Sabharwal, CEO of
Cut in excise duty
The industry has also demanded a cut in the excise duty for agrochemicals in order to support better yield and make it more accessible for the farmers. “Current government’s commitment towards GST implementation and improving overall infrastructure will have far reaching impact on the agriculture industry. These steps will not only help in creating a better business environment, but also improve the profitability from the farm produces.
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Image: Indiatimes.comAdvertisement
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