Expert view on Budget FY24-25: Focus on agri to boost efficiency, competitiveness of sector, increase employment
SECTIONSExpert view on Budget FY24-25: Focus on agri to boost efficiency, competitiveness of sector, increase employmentBy Shambhavi Anand, ET BureauRate StoryFollow usShareFont SizeAbcSmallAbcMediumAbcLargeSavePrintCommentSynopsis
The emphasis on modernizing the agricultural sector through heightened investments in upgraded storage, streamlined supply chains and branding is poised to elevate the overall efficiency and competitiveness of Indian agriculture.
BudgET 2024: FY25’s fiscal deficit budgeted at 5.1% of GDP; nominal GDP growth seen at 10.5%The emphasis on modernizing the agricultural sector through heightened investments in upgraded storage, streamlined supply chains and branding is poised to elevate the overall efficiency and competitiveness of Indian agriculture.
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This approach is set to secure the long-term prosperity of farmers and stimulate employment opportunities, said experts from the agricultural sector.
“The focus on post-harvest activities and the promotion of private and public investments demonstrate a holistic approach to the agricultural sector's development,” said Atul Garg, MD, GRM Overseas adding that the expansion of Nano DAP application and the Aatma Nirbhar Oilseeds Abhiyan will instill confidence, aligning with the aspirations for a self-reliant and thriving agricultural landscape in the company.
The boost given to dairy productivity and supporting sea food exports will provide employment opportunities for the rural economy, according to Anand Ramanathan, Partner and Consumer, Products and Retail sector Leader, Deloitte India.
Finance Minister Nirmala Sitharaman, in her Budget speech said that for ensuring faster growth of the sector, the government will promote private and public investment in post-harvest activities including aggregation, modern storage, efficient supply chains, primary and secondary processing and marketing and branding.
(You can now subscribe to our Economic Times WhatsApp channel) In Video: BudgET 2024: FY25’s fiscal deficit budgeted at 5.1% of GDP; nominal GDP growth seen at 10.5%
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