Budget will give a boost to the economy: Cargill India

Budget 2020 will give a boost to the economy: Cargill India

Simon George, President, Cargill India (DH Photo)

By Simon George

"Budget with “Aspirational India”, “Economic Development” and “Caring Society” themes is balanced in its approach and would give a necessary boost to the economy.

Government reiterated its commitment to doubling the farmer’s income by 2022, and announced a 16-point action plan to boost agriculture and farmers welfare, and Cargill India is committed to contributing towards the goal. Having said so, the government allocated 15 lakh crore for farmer’s credit pushing for their upliftment. Agriculture being the backbone of the nation it would be significant to see how the government would push the Krishi Udaan on not just national but international routes and enabling agri and farmers to be part of the global value chains, providing enormous value addition for farmers and the economy. In order to sustain a national cold supply chain for perishables, government announced that Indian Railways will implement Kisan Rail, which will be undertaken through the PPP model for rapid transport of perishable goods. Mapping and geo-tagging of agri-warehousing and setting up warehousing at the taluk level along with integrating warehousing receipts with the e-NAM will provide a great boost to the sector.

Agriculture amalgamated with rural development will see an allocation of Rs. 2.83 lakh crores. This budget allocation will aid in enhancing productivity, improving the income of the farmers with access to markets that would eventually help in reducing farm distress; helping the sector to achieve the aspirational growth rate. With the renewed focus on job opportunities specifically for the rural youth, the budget ensures to boost the marine fishery for creating an optimistic future with a business outlook as well. On the other hand, teaching entrepreneurial skills to the youth is required in understanding what the potential markets holds for the farm sector.

Government’s initiative to encourage the states to adopt the 3 central model laws on agricultural land leasing, agricultural produce & livestock marketing and contract farming should go a long way to get these laws implemented on ground. The government’s plan to boost horticulture at the district level would surely result in a focused approach and the strengthening of Jaivik Kheti through incorporation of digital platforms is a much awaited reform. Renewable energy is the future and now the farmers can avail the technological advancement for their livelihood through establishing of solar grids and pumps. There is a need to educate the farmers to use the required technology to show desirable results."

Simon George, President, Cargill India