Addressing a function here, Modi said the proposed seed bill should have the provisions for protecting farmers interests in the event of the crops not not carrying grains due to use of seeds supplied by the MNCs.
"The farmers be adequately compensated for the loss of crops," he urged.
Stating that the state government was "very" alert in its bid to protect interests of farmers, Modi said it was the reason it had objected to the provisions in the Seed bill 2004 placed in Rajya Sabha.
He recalled that the state government paid compensation of Rs 60 crore following failure of maize crops supplied by MNCs of BT Maize.
Agriculture was the most important property of the state and the Bihar government did not not want that farmers here should follow those in Maharashtra and Andhra Pradesh where farmers are committing suicide, he said.
"We are also trying to promote fishery, hatchery and dairy industries in Bihar," he said.