Agriculture and consumer goods sectors are looking for better technological infrastructure to help farmers

The agricultural sector is facing multi-faceted challenges that require immediate attention.

Union Budget 2024 Agriculture and Farmers: As India gears up for the upcoming Union Budget 2024, key stakeholders from the agriculture and FMCG sectors have urged the government to address the pressing challenges compounded by drought, climate change and inflation. These are sectors that play a crucial role in the Indian economy as agriculture not only provides livelihood to millions but also contributes significantly to exports and GDP.

The agriculture sector in particular faces multi-faceted challenges that require immediate attention. Ashok Kumar of Transform Rural India (TRI) stresses the critical need for a robust crop insurance mechanism. This is essential as climate change increasingly exposes farmers to unpredictable weather patterns, threatening crop yields and livelihoods.

In addition, ensuring safe food production practices and promoting chemical-free products is crucial for both consumer health and export competitiveness. Investments in renewable energy solutions, such as photovoltaic systems, can further strengthen the sustainability and productivity of agriculture.

Rajesh Aggarwal of Insecticides (India) emphasizes the importance of investing in rural infrastructure. Strengthening the road network, irrigation facilities and storage infrastructure is crucial to minimize post-harvest losses and improve farmers’ access to market. Such improvements not only increase productivity but also stimulate the rural economy by generating employment and integrating advanced agricultural technologies.

The call for climate-smart agriculture funding is resonating with industry experts, who are championing innovations like solar-powered irrigation and rainwater harvesting, which not only mitigate environmental impacts but also make agriculture more resilient in the face of climate variability.

At the same time, the FMCG sector, heavily dependent on agriculture, is envisioning policies that encourage rural consumption and ensure market stability. Manish Aggarwal of Bikano, Bikanervala Foods, stresses the need for programmes that protect farmers growing oilseeds and create an environment conducive to the oleochemical industry.

Amidst these demands, the role of the government in facilitating agri exports remains crucial. Despite India’s significant agricultural production, challenges like meeting international standards like minimum residue levels (MRLs) persist. Anand Ramanathan of Deloitte India stresses the need for effective policies and strong government support to tap the global agri export market.

(For more information apart from Union Budget 2024 Agriculture and Farmers, stay updated with Rozana Advocate)

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