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Union Budget 2018: ‘Govt’s intent of doubling farmer income laudable’

By Vicky
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    The Union Budget 2018 is very encouraging for the agriculture sector, Raju Barwale, Chairman and Managing Director, Mahyco said.

    Union Budget 2018: ‘Govt’s intent of doubling farmer income laudable’

    Several measures to ensure better post-harvest prices to farmers have been introduced in the Budget, he also said.

    Read | Budget 2018: Full text of Finance Minister Arun Jaitley's speech

    The laudable intent of the Union Government in doubling farmer's income in the medium terms is amply expressed through key measures in this budget.

    Removing uncertainty in prices of agricultural produce is critical to give impetus to Indian agriculture. Government's proposal of 1.5x Minimum Support Price (MSP) for all Kharif crops has the potential to provide 50% gross margin to farmers and this will send positive signal to market, Barwale also added.

    Read | Key highlights of Budget 2018: Joy for agri sector, heartbreak for middle class

    The Government has shared its plan to fix a structure to ensure that farmers receive MSP when market prices are lower than MSP in consultation with Niti Aayog and state governments. This is another important step. Better price realization will fuel improved investment by farming community in quality inputs and practices to increase crop yield. With these measures, the entire ecosystem will be encouraged to invest in infrastructure and research & development initiatives to bring the best of innovations to Indian farmers, he further said.

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