Policy Reforms: Boosting Pulses and Edible Oils in India's Agriculture

The pre-budget document for the 2024-25 fiscal highlights required policy reforms to enhance pulses and edible oil production while discouraging surplus cereal output. It emphasizes the need for market mechanisms, research on climate-resilient crops, judicious fertilizer use, and private investments to uplift agricultural productivity and support small farmers.

The pre-budget proposal for the 2024-25 fiscal year advocates for crucial policy reforms in India's agricultural sector, aiming to enhance the production of pulses and edible oils while curbing the overproduction of cereals. The Economic Survey 2024-25, presented in Parliament, underscores the significant untapped growth potential within the sector.

Central to the recommendations are policy shifts such as implementing market mechanisms for price risk hedging, addressing excessive fertilizer use, and discouraging the cultivation of water and power-intensive crops. These changes aim to increase agricultural productivity by enhancing land and labor efficiency.

Further, the document suggests investing in climate-resilient crop research, promoting best practices among farmers, and expanding the growth area of pulses in rice-fallow regions. It also highlights the importance of private sector investment to support small farmers and modernize grain storage systems, particularly in rural locales.

(With inputs from agencies.)