Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Politics / News/  Over Rs25,000 crore to be invested in the farm sector
BackBack

Over Rs25,000 crore to be invested in the farm sector

Over Rs25,000 crore to be invested in the farm sector

Premium

By KM

New Delhi: The Prime Minister, in his Independence Day address, said 25,000 crore would be invested in the farm sector to enhance agriculture production and livelihood of farmers. Revolution initiated during the mid-sixties, which made the country self sufficient in foodgrain.

The high yielding wheat varieties brought from Brazil worked wonders on Indian soil, raising the production to 17 million tons in 1967-68 from 12 million tons earlier. Nobel laureate Norman E Borlaug, C Subramaniam, M S Swaminathan and B P Pal are some of the pillars of the Green Revolution.

On the present state of affairs in agriculture, Chopra said adequate stock of food to feed its population has given India the security and dignity internationally.

The country produced a record 216.13 million tons of foodgrains in the 2006-07 crop year. The stock positions of wheat and rice as on 31 July stood at 12.02 million tons and 9.16 million tons respectively.

India, today, is the second largest producer of fruits with 45.5 MT and vegetables at 90.8 MT in the world, having a share of 10.23% and 14.45% in the total world production of fruits and vegetables respectively.

However, the import of wheat for the second year running has put a question mark on the country’s self-sufficiency in foodgrain production.

He said food self-sufficiency was based upon a narrow technology base, which has reached its climax.

“Now, India needs major investment in agriculture. It cannot progress unless the country makes huge investment in the sector," he said, adding that total change is required in outlook to address inadequacies in different pockets.

The Prime Minister, in his Independence Day address, said 25,000 crore would be invested in the farm sector to enhance agriculture production and livelihood of farmers.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Politics News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 15 Aug 2007, 11:24 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App