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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

Budget 2023 | Nirmala Sitharaman | India's R&D spending

IANS  |  Chennai 

Illustration: Ajay Mohanty
Illustration: Ajay Mohanty

The Union budget to be presented by Finance Minister 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.

"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.



(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.)

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First Published: Wed, January 25 2023. 19:13 IST