Policy Reforms: Boosting Pulses and Edible Oils in India’s Agriculture
India’s pre-budget proposal for 2024-25 advocates policy reforms to boost pulses and edible oil production while curbing excessive cereal cultivation. Key recommendations include market-based price risk hedging, reducing fertilizer overuse, and discouraging water-intensive crops. The proposal emphasizes climate-resilient research, expanding pulse cultivation in rice-fallow regions, and increasing private sector investment in modern grain storage and rural infrastructure.
he pre-budget proposal for the 2024-25 fiscal year advocates for crucial policy reforms in India’s agricultural sector, aiming to enhance the production of pulses and edible oils while curbing the overproduction of cereals. The Economic Survey 2024-25, presented in Parliament, underscores the significant untapped growth potential within the sector.
Central to the recommendations are policy shifts such as implementing market mechanisms for price risk hedging, addressing excessive fertilizer use, and discouraging the cultivation of water and power-intensive crops. These changes aim to increase agricultural productivity by enhancing land and labor efficiency.
Further, the document suggests investing in climate-resilient crop research, promoting best practices among farmers, and expanding the growth area of pulses in rice-fallow regions. It also highlights the importance of private sector investment to support small farmers and modernize grain storage systems, particularly in rural locales.
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Source : Devdicourse
