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Pro-farmer, inclusive, Positive

Pro-farmer: “It was a delight to learn that the new Government continues to be committed to double farmers’ income by 2022, focus on developing rural entrepreneurship and green economy. The measures announced by the Government like investing significantly inagriculture infrastructure and aim to form 10,000 new Farmer Producers Organizations(FPOs), will boost the agrarian economy,” said AsitavaSen, Chief Executive Officer, CropLife India.

With a view to reducing cost to farmers, he said, GST on crop protection products could be reduced from current 18% to 5%, which is in line with other input industries such as fertilizers.

Favourable policies and incentives for promotion of recycling of used crop protection containers (after cleaning), as per global best practices may be considered. Recycled Plastic Containers can have various end-use applications including road surfacing, toilets, fences, outdoor furniture etc. This will be in line with UN Sustainable Development Goals (SDGs) for adopting a circular economy approach and also prevent environment degradation from waste plastic disposal.

Precision Agriculture and New Technology - Satellite driven big data analytics and digital solutions are helping farmers globally to make better and more informed decisions with regards to weather, soil nutrients, pest and diseases and crop management. One of the areas, which we believe will have a major impact and needs government intervention is “Use of Drones” for spraying Crop Protection Chemicals, which can have several benefits for the farmer and the environment.

Push to start-ups: The overall intent of the government to provide impetus to startups in the budget is heartening. Finally, a strong

message on the scrutiny on Angel Tax is a welcome move which will open up capital source for early-stage ventures. However, the implementation part including the details of the verification mechanism will be the key to its effectiveness, said Deena Jacob, Co-founder, CFO & Head (Revenue and Growth), Open - Asia’s first Neo-banking platform for SMBs and Startups. (Recently funded by Tiger Global.)

Towards global leadership: “The Budget confirms the government’s continuous focus on digital payments and will aid to create a

robust payment infrastructure in the country, Dilip Asbe, MD & CEO, National Payments Corporation of India (NPCI), said. Adoption of RuPay National Common Mobility card (NCMC) shall trigger the consumer behaviour change for all the transit use cases. The budget facilitates the transformation of Indian economy from Cash driven to less-cash. We believe, with all the efforts from the government and RBI, India could emerge as world leader and innovation hub for digital payments in next 5 years.”

There’s meat in what they say: The Government’s vision of building a $5 trillion economy by 2024 and $3 trillion by the end of this year, encourages positive sentiment, said Vivek Gupta, Co-Founder, Licious,  one-stop fresh meat delivery shop. The aim of making Indian economy more investor friendly, improving infrastructure and increasing impetus on developing industry relevant talents are all encouraging developments.

India is the 2nd largest fish and seafood exporter in the world. The country’s 7000km long coastline and diverse produce, contributes significantly to our Forex reserves. The Government’s initiative for developing fisheries management network is truly a long-term vision. This coupled with the schemes supporting agro-rural entrepreneurship will  help upgrade the ecosystem. Indian consumers should get better quality fish & meat products; which is a strong imperative for our business.