To be attributed to:

Ajai Rana, Chairman, FSII, CEO and Managing Director, Savannah Seeds Pvt Ltd

Having steered the economy to a glorious path in the last one decade with progressive reforms in agriculture, it is heartening to see the Finance Minister spell out the vision for making India Viksit by 2047 that relies on continued momentum on advances made so far. The Seed Industry is particularly happy to see the emphasis given on oilseeds and the imperative to make the sector self-reliant in this interim Budget.

We welcome the Finance Minister’s announcement on Atmanirbhar Oilseeds Abhiyan with a focused strategy on achieving self-reliance in oilseeds, such as mustard, groundnut, soyabean, sesame and sunflower. This is a timely and effective step that shall augment our aspirations to become self-reliant in this critical sector. As India continues to make rapid strides towards being a world leader, it is vital that we embrace globally approved technologies. The industry applauds Government’s focus on high yielding varieties of seeds, adoption of modern farming techniques, market linkages, procurement, value addition and crop insurance.

The Rs 1 lakh crore R&D corpus allocation for 50 years with low or nil interest is a visionary move guided by Hon PM's focus on Jai Jawan, Jai Kisan, Jai Vigyan & Jai Anusandhan.

The focus on reform, perform and transform has been evident in the Government’s work in the last one decade. We sincerely hope in the Full Budget after the new government, we shall see the spirit reflected in aspirations of the seeds industry by way of GST rationalizations on seeds raw materials and services, deductions on R&D expenses, progressive environment for enabling more investments in the sector.

Budget Reaction by

Dr KC Ravi, Chief Sustainability Officer, Syngenta India Pvt Ltd & Chairman, CropLife India

The robust physical-digital-social infrastructure developed in the last decade has given the economy a good foundation for a Viksit Bharat by 2047. Digital infrastructure and infusion of technology is imperative to not only sustain the momentum but also to take the agriculture growth story to its logical conclusion. The focus on self-reliance in edible oils and investment in post-harvest activities are some of the measures that can make this happen.

The full Budget has to address some pending reforms needed to further boost the impressive growth of India's agrochemical sector. An enabling predictable science based policy environment is absolutely essential to provide farmers cutting edge technologies to fight against climate threats besides the ever increasing complex pests and diseases threatening crop yields. It is important that the industry is encouraged to invest in R&D for bringing newer molecules and technologies complemented by AI and digital technologies. Rationalising GST on agrochemicals to 12% (from current 16%) and allocating sufficient budgetary resources to introduce performance-linked incentives (PLI) will go a long way in consolidating and strengthening the agrochemical sector. Strategic policy decisions will propel India towards this growth, ultimately leading to a significant positive impact on further enhancing farmers' income. These would give a decisive push for making Atmanirbhar Bharat.

Reaction on the Budget by Siba P Mohanty, Managing Director, Hindustan Urvarak & Rasayan Limited

The country has witnessed historic transformation and substantial economic gains in the last one decade, as we march ahead with determination to achieve the Viksit Bharat dream of Honorable PM Shri Narendra Modi by 2047. The budget has made substantive progress through our humane and inclusive approach to development by targeting individual households. The direct financial assistance to 11.8 crore farmers through PM Kisan Samman Yojana, crop insurance to 4 crore farmers under PM Fasal Bima Yojana, and a series of other transformative policies have created enduring impacts in the lives of our Annadata.

I am particularly delighted to see Honorable Finance Minister Smt Nirmala Sitharaman highlighting the successful adoption of Nano Urea and announcing that the application of Nano DAP on various crops will be expanded in all agro climatic zones. The emphasis on Atmanirbharta, for oil seeds such as Mustard, Groundnut, Sesame, Soybean, and Sunflower is also timely and pertinent.