New Delhi, Jan 4 : Union Finance Minister Arun Jaitley on Monday said that the key challenges faced by the Indian agriculture are the need to increase productivity by leveraging technology-especially for high yielding and resistant variety seeds and efficient utilization of water, adapt latest IT to increase resilience to nature by phasing sowing, watering and harvesting and to increase the price benefits to the farmer by providing timely market information.
Jaitley said that these challenges can be addressed by revisiting the incentive structure of farming, use latest technology to raise productivity, reduce wastages and enhance earnings as well as to improve marketing of farm produce.
While speaking during his first Pre -Budget Consultative Meeting with the representatives of Agriculture Groups here on Monday, Jaitley said there is a need for more investment in agriculture sector.
Jaitley further said that the performance of Agriculture Sector during three out of the last four years (2015-16, 2014-15, 2012-13) has not been good mainly due to inadequate monsoons. As per the estimates of GDP for the second quarter (July-September) of 2015-16, the Minister said that agriculture, forestry and fishing sector grew by 2.2 percent as compared to growth of 2.1 percent in the corresponding period of 2014-15.