Revitalizing India's Agriculture: Policy Shifts for the Future

The pre-budget document for 2024-25 proposes reforms to balance cereal production while boosting pulses and edible oils output to reduce imports. It emphasizes the untapped growth potential of the agriculture sector and suggests policy shifts, including price risk hedging and reduced fertiliser use, to enhance productivity.

The pre-budget document for fiscal year 2024-25 recommends crucial policy reforms aimed at balancing cereal overproduction while increasing the output of pulses and edible oils, commodities currently imported to alleviate domestic shortages.

Presenting the Economic Survey 2024-25 to Parliament on Friday, the government underscored the significant untapped growth potential within India's agriculture sector, despite existing growth initiatives and challenges.

Key policy shifts include establishing market mechanisms for price risk hedging and discouraging the excessive use of fertilizers and water-intensive crops. These reforms aim to lift agricultural productivity by enhancing land and labour efficiency.

(With inputs from agencies.)