Budget 2019: Innovation and new age farming is the future

The agriculture sector is one of the mainstays of the Indian economy. Therefore, there are great expectations of the sector from the new finance minister for the upcoming Budget. There are several issues to be addressed right from doubling farmer’s income, to structural reforms to make it a profitable business.

New age farming practices has to be at the center of all agricultural reforms. In most of the cases, farmers do not get beyond 20-30 % share in the profits, due to commoditised approach to farm produce. Organic farming has the potential to change the face of agriculture in India today. Currently, we have 1.2 million ha of land under organic production, which comprises only 0.7% of total area under cultivation. This produces around 1.24 million tons of organic produce. The global organic production market is currently valued at $82 billion.