close

Budget should allocate funds on R&D to develop pesticides, organic manure

The Budget to be presented by Finance Minister Nirmala Sitharaman on Feb 1 should look forward to allocating funds on research and development (R&D), said a top official of Insecticides India Limited

IANS Chennai
Illustration: Ajay Mohanty

Illustration: Ajay Mohanty

The Union budget to be presented by Finance Minister Nirmala Sitharaman on February 1 should look forward to allocating funds on research and development (R&D), said a top official of Insecticides India Limited.

"The upcoming budget should look forward to allocate funds on research and development activities to develop new more effective and safer solutions for the control of pests, diseases and weeds for chemical and as well as biological streams," said Rajesh Aggarwal, Managing Director, Insecticides India Limited.

"Different forms of incentive to the companies engaged in such R&D activities can be a motivating factor for them to invest more in the same," he added.

According to him, the government should also make budgetary allocations and develop more aggressive awareness missions for the new technology and new crop avenues, so that input cost can be reduced and output value can be maximised.

The budget needs to take this into account and provide higher allocation to horticulture.

Government subsidies and initiatives are required for safe farming, enhanced focus on sustainable development, and expanding crop supplier and manufacturing base network.

Also Read

Budget 2023-24: Manufacturing sector eyes revised taxations, new PLIs

Union Budget 2023: Experts don't expect surprises in social sector outlay

Budget 2023: A look back at some major announcements in previous Budget

Crypto industry wants 0.1% TDS, Sebi-like regulator in Budget 2023

NTA JEE Main 2023 application process to start in November; check details

Parliament's Budget session to begin Jan 31; Here's what you need to know

15 important terms you should know ahead of Union Budget presentation

Indian gaming industry seeks clear tax regime, duty credit scrips in Budget

Budget 2023-24: Manufacturing sector eyes revised taxations, new PLIs

Union Budget 2023 likely to focus on deficit reduction, say experts

"To facilitate the growth of agri-exports, the government should speed up and ease the documentation process for registrations, incentivise global collaborations, and educate stakeholders," Aggarwal added.

On the manure side, the government should subsidise organic manure so that it could be promoted among the farmers, said Maninder Singh, Founder & CEO, CEF Group.

Stressing on the importance of urban farming, Singh also said separate budgets should be allocated for the promotion and implementation of urban farming on a larger scale.

"Government must devise some schemes to promote urban farming such as rooftop or balcony farms, community gardens, etc. This will not only help in reducing pollution but also in inculcating environment-friendly practices among the general public," he added.

--IANS

vj/uk/

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Jan 25 2023 | 7:13 PM IST

Explore News