Government think-tank NITI Aayog member Ramesh Chand has said that India’s farm sector growth is likely to remain higher at 3.1 percent in the current fiscal (FY20) as compared to 2.9 percent in previous fiscal year. He noted that farm sector growth was 2 percent and 2.1 percent in the first and second quarter of the 2019-20, respectively. He felt that more competition and private investment is the need of the hour and the role of private sector in Indian agriculture sector has to come in a big way.
Emphasizing on private investment, NITI Aayog member said the face of agriculture from traditional to modern, and movement of agriculture from present stage to higher evolution will not happen without active involvement of private sector. He also said ‘unless we increase corporate sector's investment and involve them from seed and continuing it up to sale, it would be difficult to cause a breakthrough in growth of agriculture and doubling farmers' income.’
Chand further said that the NITI Aayog was trying to convince the central government to make up its mind in drafting a Model Land Lease Act. With regard to the implementation of the model Agriculture Produce and Livestock Marketing (Promotion and Facilitation) Act and contract farming law, he said, ‘I think we need to persuade the states, we are already trying to do it that those two acts are adopted by the states.’
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