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Budget 2021: What agriculture, edible oil and food processing sectors expect

economy | Jan 29, 2021 7:06 PM IST

Budget 2021: What agriculture, edible oil and food processing sectors expect

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The economic survey presented in the parliament today found that despite the pandemic, agriculture has remained the economy's silver lining. Meanwhile, contact based services, manufacturing, and construction sectors were the worst hit. The survey also noted that Centre’s recent reforms in the agriculture markets will enable the creation of ‘One India, One Market’ and offer more opportunities to the farmers.

The economic survey presented in the parliament today found that despite the pandemic, agriculture has remained the economy's silver lining. Meanwhile, contact based services, manufacturing, and construction sectors were the worst hit. The survey also noted that Centre’s recent reforms in the agriculture markets will enable the creation of ‘One India, One Market’ and offer more opportunities to the farmers.

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According to the survey, the agricultural reforms would enable farmers to sell where they get the best deal and thereby allow competition.
So what does the sector expects on Monday? To discuss this Rajat Wahi, Senior Director at Deloitte India, spoke to CNBC-TV18.
Wahi said, “Close to about $ 14 billion of food wastage that happens in our food and agri value chain. So even if you look at saving 50 percent of that through efficiencies, through automation, through improving the infrastructure, through connecting the farmers to mandis to better markets I think all of that will help to really put more money in the hand of farmers and less wastage in the value chain and hopefully better value to the end consumers as well. So it is required to have a better infrastructure.”
Also Dorab Mistry, Director of Godrej International and Tarun Arora of IG Group of companies, spoke to CNBC-TV18’s Manisha Gupta to discuss what the edible oil and food processing space expects from this budget.
Watch this video for more.
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