Agri-experts give thumbs up to the Union Budget 2022-23

Agri-experts give thumbs up to the Union Budget 2022-23

The Budget proposals announced by Finance Minister Nirmala Sitharam has elicited a positive response from the stakeholders in the agriculture sector. The Centre’s moves to increase oilseeds production, encourage millets production and chemical-free farming have been welcomed.

Atul Chaturvedi, President of the Solvent Extractors’ Association (SEA) of India, said the comprehensive scheme to increase domestic production of oilseeds to reduce country’s dependence on import of edible oil is a welcome step. “This initiative should go a long way in helping reduce our dependence on edible oil imports, which are likely to be around Rs 1.5 lakh crore during the current year,” he said.

Amith Agarwal, co-founder and CEO of AgriBazaar (an agritech marketplace), said the announcement of a comprehensive scheme reducing reliance on oilseed imports is a good move as it will focus on changing the crop sowing pattern.

Pravesh Sharma, Director of Samunnati Agro, said the theme of this year’s Budget seems to be incentivising a forward-looking vision for agriculture. “We also expect the Government to come up with practical solutions to address the pending demand of farmers to provide a legal guarantee of MSP,” he said.

Prashant Parameswaran, MD and CEO of Tata Consumer Soulfull, said Tata Consumer Products has been working with the Indian Institute of Millet Research (IIMR) to unlock the full potential of millets as a healthier and more sustainable alternative to traditional grains.

Sheetal Sharad, Vice President and Sector Head Corporate Ratings, ICRA Ltd, said the increased allocation under the Livestock Health and Disease Control programme from Rs 8.86 billion in RE 2021-22 to Rs 20 billion in 2022-23 BE, reiterates the government’s focus on supporting livestock betterment. This is expected to bolster cattle productivity and increase raw milk availability for dairy processors.

AR Shukla, President of Indian Biogas Association, said the emphasis on organic farming should cheer the biogas industry. Allocation of the requested Budget for such development under ‘Biogas Fertilizer Fund’ would make it happen.

Taranjeet Singh Bhamra, CEO and Founder of AgNext Technologies, said the Budget’s focus to increase technological intervention in agriculture value chains will further help to cushion the sector against global uncertainties.

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