Budget 2022: Agriculture experts highlight issues, expectations

New Delhi: The Capital Market & Commodity Market Committee of PHDCCI organized a Webinar on Agriculture Ecosystem: Expectations from Budget 2022 on 25 January 2022.

Mr Pradeep Multani, President, PHDCCI said in his Presidential Address that agriculture continues to be a dominating employment generating sector and contributes a significant proportion to the country’s GDP. He highlighted on identifying areas and crops to integrate the benefit of micro-irrigation with structured governance and execution strategy will help the country climb a newer height of fiscal growth.

Mr B K Sabharwal, Chair, Capital Market & Commodity Market Committee, PHDCCI in his Chair Remarks highlighted that in the Union Budget 2021, the government had a farm credit target of Rs16.5 trillion, which is likely to be revised in Budget 2022 to Rs 18.5 trillion. Union Budget 2022 will be presented against the backdrop of economic revival post covid second wave and the looming danger of possible third wave.

The Webinar was also addressed by Mr Rachit Gupta, Co-Chair, Capital Market and Commodity Market Committee. Mr Rajesh Kumar Dangeti, Regional Director (Northern Regional Office), SEBI was the Chief Guest at the Webinar and  other eminent speakers were Mr R N Bhaskar,  Veteran Journalist; Mr Madan Sabnavis, Chief Economist, Bank of Baroda;  Mr Sandeep Jain, Director, Tradeswift Broking Pvt Ltd; Mr Kapil Dev, Chief Business Officer, NCDEX and Mr Narinder Wadhwa, President, CPAI.

Mr Rajesh Kumar Dangeti said in his Chief Guest Address said that India is one of the highest producers of many agricultural products in the world. He also highlighted some of the problems which the farmers face in relation to inflation in agricultural products, over dependence on climate changes, storage facilities, depletion in ground water, air pollution and environmental sustainability and many others.

Mr R N Bhaskar moderated the Session and laid emphasis on vibrant future markets for agriculture and subsidies in the agriculture sector.

Mr Madan Sabnavis stated that agriculture is the backbone of the economy. He talked about the NREGA project, capital expenditure on agriculture including warehousing, transportation & irrigation facilities.

Mr Sandeep Jain focused on improving agriculture GDP so that the country can witness consumption revolution.

Mr Kapil Dev talked about the MSP, measures to bring down cost of production and government long term approach on improving infrastructure in agriculture sector.