Budget for agriculture research likely to go up 15% in 2018-19
New Delhi: The government is likely to increase the budget allocation for farm education, research and extension by up to 15% to around Rs8,000 crore in 2018-19 fiscal as focus will on making rapid strides in doubling farmers' income, people in the know said.
The union budget for 2018-19 will be presented on 1 February. "There has been a minimum 10% annual increase in the budget allocation for agri-education, research and extension purpose in last few years. We hope 15% higher budget allocation would be made available for the DARE (Department of Agricultural Research and Education) for the next financial year," the people in the know said.
The funds will used on priority areas with an aim to address the country's key farm sector problem and make rapid strides in the direction of doubling farmers' income through use of technology and innovation, the people familiar with the matter added. In the next fiscal, DARE is planning to focus on using technology and agri-innovations in particularly 150 backward districts and build capacity of farmers in tribal areas.
It is also considering initiating programmes on use of sensors in agriculture, build and transfer post-harvest technology, use of animal cloning for commercial application, genome editing in select crops and bio-fortification.
For 2017-18 fiscal, the government had initially made an allocation of Rs6,800 crore for DARE that functions under the agriculture ministry. Additional funds has also been sanctioned through supplementary demand, taking the total budget to around Rs7,000 crore for agri-research and extension activities for this year.
Already, 90% of the budget allocation released till third quarter of 2017-18 fiscal has been spent by the DARE, the rest will be done in the remaining period.
- Brent oil hits highest since late 2014 as supplies tighten amid strong demand
- Trump administration plans to end work permits for H-1B visa holders’ spouses
- Deals Buzz: Fresh hurdles for Numetal, ArcelorMittal in Essar Steel sale
- Proxy advisor questions legitimacy of Fortis Healthcare sale process; warns of class action suit
- USFDA finishes inspection at Alembic Pharma’s Panelav plant, shares rise on BSE