India is always been a major producing center in the agriculture sector. Also major exporters in various crop productions. But, agricultural infrastructure has always been a major issue. Keeping this in mind the Finance Commission has made an effort for improving the sector in various norms and presented in the budget session 2021.
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During the budget session of 2021, special recommendations have been made with an aim of putting the sector to $ 60 billion by 2022. Also, the points should be mentioned that agricultural exports are performing well in the states to boost agriculture.
On outstanding agricultural export performing state, the Finance Commission is planning to provide special grants to these states by including a section in its performance-linked incentive.
According to Ramesh Chand, the growth of India depends upon the agriculture sector but somehow it lacks due to the increase in the cost of production and losing export competitiveness. The factor that affects more in agriculture sector when farmers demand high prices in the cost of production. This series goes with an increase in yield, the cost of production also increases. Thus, it affects the growth of agriculture.
The report is measured under different factors and presented in the budget. The areas include are trade, education, development of aspirational districts, promotion of tourism, power reforms, mentioned in the interim report and submitted by FC.
Boost Agriculture
The Finance Commission is making an effort for the better production of crop value chains and more usages of 340 commodities that need to be developed. Also, a huge panel has been formed with the accordance of bureaucrats, academicians, and senior industry executives. Agriculture exports have been boosting up from $ 40 billion to over $70 billion.
The FC’s main motive is to improve infrastructure and to Prerequisites 10 million jobs from the investment generated of about $8-10 billion.
It has been noticed that agricultural exports have a boost from $40 billion, whereas in the year 2013-14 the goal was targeted at $60 billion and goes with $43 billion.
If seen the record of investments, then Agri reforms are the major sector to enhance private investments in agriculture. Though government contributes 17-18 % in agriculture investment. Rest 80% investment is completely done by the farmers and a little contribution served by the corporate sector. Also, the information gathered through the sources that chairman Sanjay Kaul is in the view that the MSP that has been implemented in the book is not providing the benefit to the farmers. He stated that the MSP scheme is not actively procurement for the farmers. Though in the book of Kaul, covers several parameters including recent initiatives in technology and innovation in agriculture, the newly emerging areas, and the critical theme of managing commodity risk and the present commodity space.
In the report, the grant amount is not presented by the Commission. It will reveal in the final report of the session.
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