TIL Desk/Business/New Delhi/ The government should provide additional funds as well as incentives in the upcoming Budget to promote indigenous farm research, oilseeds production, food processing and organic farming for the overall growth of the agriculture sector, according to industry experts. The direct benefit transfer (DBT) scheme should be utilised more to support farmers instead of giving subsidies, they added.
“Food processing industry has played an important role in better price realisation for the farmer and reducing the cost of intermediaries. The budget must provide special incentives to food processing through incentives such as interest subvention, lower taxes, access to technology and so on,” DCM Shriram Chairman and Senior MD Ajay Shriram said.
Referring to the successful PM-KISAN scheme under which Rs 6,000 is paid annually directly into farmers bank accounts, he said the DBT mechanism should be fine-tuned and gradually should be utilized to support farmers in lieu of other subsidies.
