NABARD expects dairy sector boost from Rs 8,000 cr fund

The National Bank for Agriculture and Rural Development (NABARD) Chairman Harsh Kumar Bhanwala today said the union budget proposal to form a Rs 8,000 crore fund will strengthen the dairy infrastructure in the country.
Besides, Rs 10,000 crore has also been allocated for the development of fisheries and aquaculture.
Bhanwala was speaking at inaugural session of 9th Asian Buffalo Congress held at ICAR-Central Institute for Research on Buffaloes in Hisar today, said an official release.
The seminar was held on the topic of "Climate resilient Buffalo Production for Sustainable Livelihood".
Bhanwala emphasized upon enhancing food security and improving the income of the dairy farmers on a sustainable basis, as dairy is a secondary occupation for about 69 per cent of India's farming community.

He said dairy contributes about a third of the gross income of rural households and about half of the gross income of landless rural households. Further, one fourth share of agriculture GDP comes from livestock sector and this sector is also considered as a major drought proofing measure in rural areas, as it provides regular income to the farmers by gainfully utilizing locally produced crop residues.
Bhanwala also underlined the adverse effects of climate change on livestock productivity and said it would ultimately lead to low returns from the production systems and therefore, low sustainability of the dependent livelihoods.
"Similarly, the productivity of buffaloes may get affected adversely because of inadequate availability of fresh water, which is going to be the most vulnerable commodity in the coming years because of climate change," the NABARD Chairman said.