More investments needed in farm sector: Gulati

More investments, including private ones, are needed in the agriculture sector so as to achieve 5 per cent farm growth, Commission for Agricultural Costs and Prices (CACP) Chairman Ashok Gulati said today.
He stated this at a seminar on 'Accelerating Agricultural Growth-Role of Policy and Technology' at the Punjab Agricultural University here.
"We need to bring changes in farming to accelerate growth and reduce rural poverty," he added.
At present, the agriculture growth rate is nearly 4 per cent and in 2013-14, it is likely to be 4.6 per cent, Gulati said.
Stating that farm technology alone could not do wonders, Gulati said high-value produce like fruits, vegetables, poultry and fish would govern the country's farm sector in future.

"In 2012-13, India exported 22 million tonnes (MT) of cereals and we are likely to export 18 MT of wheat, rice and maize in 2013-14," he said.

In 2007-08, when global food prices went up, India had banned the export of wheat and rice.
During the period of five years from 2006-07 to 2011-12, food production increased by 42 MT. As the production was going up and export was banned, the surplus touched 80 MT in 2011-12, he said.
In September 2011, the central government opened up the export of wheat and rice.
Stating that the country has witnessed cotton revolution in the past few years, Gulati said India is producing 36 million bales of cotton and exporting 10-13 million bales and has become the second largest exporter of the commodity.