Union Budget 2008 | Govt to ensure 4% farm growth: Chidambaram

Union Budget 2008 | Govt to ensure 4% farm growth: Chidambaram
PTI
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First Published: Fri, Feb 08 2008. 01 03 PM IST
Updated: Fri, Feb 08 2008. 01 03 PM IST
New Delhi: A day after the Central Statistical Organisation projected sluggish agricultural growth for the current fiscal, Finance Minister P Chidambaram said on 8 February the government will take all steps to ensure 4% expansion in the farm sector for next 10-20 years.
“The first charge on our resources is for agriculture, so that it grows at 4% or more for next 10-20 years” Chidambaram said at a Nabard function here.
“Everything can wait except agriculture,” he said, adding that the government was committed to take all measures for growth of the farm sector, and was ready to set up a technology fund for it.
The Finance Minister was confident that despite external factor agriculture was capable of achieving and sustaining the stated growth rate through human intervention and technology.
Referring to CSO’s advance estimates of GDP for the current year, he said, “We are confident that agricultural growth would be higher than the advance estimates”.
CSO has estimated that agriculture output would grow at 2.6% this year, against 3.8% last year.
The Finance Minister said, “The Agriculture Ministry has reported yesterday that maize and soyabean production would be all time high this year, that is not reflected in advance estimates.”
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First Published: Fri, Feb 08 2008. 01 03 PM IST