Government aiming to increase private investment in agriculture sector
Private investment in agriculture sector is the need of the hour and the government is looking at abetting it to elevate farmers from their current distress. The government aims to increase the investment which presently stands at 13 per cent to help farmers across the country to around 30 per cent.
The high-powered committee of chief ministers on transformation of agriculture headed by Maharashtra Chief Minister Devendra Fadnavis deliberated on ways to incentivise states to fully implement the major reforms in agriculture introduced in the past including some key legislations to attract private investments in the sector.
In the first meeting of the group of ministers, a comprehensive time-bound roadmap for implementation of these agriculture reforms by states were laid out.
Going forward, the Government of India will focus on subsidies and provide market access to farmers as deliberations have pointed out that Indian farmers have been struggling. The Essential Commodities Act will be amended by the government to ease the farmers' pain.
Niti Aayog's data highlighted that India's agricultural growth rate is at 4 per cent while food processing growth rate is just 1 per cent. The government will now work on food processing and ways to increase it.
Apart from making changes in the existing practices, the government will make technology available to farmers across the country from sowing till marketing. Plans to use satellites and drones are also being made by the group of ministers. Small farmers will also be added in the fold.
PM Modi is the chairman of the Aayog. The committee was formed after PM Narendra Modi had asked for a committee looking exclusively at agricultural distress. The decision was taken at the recently held governing council meeting of Niti Aayog.