Union Budget 2022: Agriculture sector expectations

India is at the second position worldwide in Agriculture output. Being the biggest employer in the country, the agricultural sector in India employed more than 50% of the Indian workforce and contributed 17–18% to the country’s GDP, as of 2018.

But still, this sector is struggling with supply chain, lack of proper warehousing facilities problems. Thousands of farmers lose their farm output because of natural climate changes like extreme drought, heavy rainfall, or floods.

The farmers continued to borrow money from moneylenders or banks, which may put them under pressure if farm produce fails somehow.

Digitalization and technology are prospering very well in other sectors but not Agriculture is part of it to that extent yet. This is the reason experts are expecting to expand technology at its full potential in the Agriculture sector for its growth. The government must allocate a significant amount for farmers in the budget that paves the way for their economic revival.

Digital India initiative of Govt. of India launched in 2015, must be expanded for integration of technology in the Agriculture or primary sector of the economy. Digital India includes plans to spread digital literacy, connect rural areas with high-speed internet networks.

Experts expect to subsidize crop insurance for farmers. Further, they expect to provide the farmers with additional subsidies from govt. to buy digital assets or accessories that will help them in farming