New Delhi: The government on Tuesday said there is a need to enhance investment in the agriculture sector to achieve 4% growth during 11th Five Year Plan.
“For the Eleventh Plan, it has been recognised that there is need to enhance investment in agriculture sector to achieve 4% growth,” agriculture minister Sharad Pawar said in a written reply in Lok Sabha.
The farm sector attracted Rs67,864 crore investment in 2007-08. Out of it, Rs46,837 crore was invested from private firms and Rs21,027 crore from public sector, according to data submitted in Parliament.
Interestingly, private investment exceeded the public sector in the last four years, it said.
Pawar said, “Investment in agriculture sector has increased over the years. The government has launched several schemes to increase investments in agriculture sector and to encourage private investment.”
He said schemes such as Rashtriya Krishi Vikas Yojana, Gramin Bhadaran Yojana and National Horticulture Mission have been implemented to boost private investment.
Besides this, the government has announced in the 2009-10 Budget investment-linked tax incentives for setting up cold chains and warehousing facilities, he added.