Insights from Agricultural Leaders on the Union Budget 2024-25

Finance Minister Nirmala Sitharaman presented the Union Budget 2024-25 on July 23, 2024. The budget introduces significant economic reforms and development plans, with a strong focus on agriculture. Here are the reactions and insights from key agricultural leaders:

Simon Wiebusch, President of Bayer South Asia and Vice Chairman, MD & CEO of Bayer CropScience Ltd (BCSL)

• Strategy for Viksit Bharat: Emphasized the nine key priorities and the focus on youth, farmers, and the rural population.
• Agricultural Reforms: Praised the inclusion of 6 crore farmers in the registries, establishment of bio-research centers, and expansion of Kisan credit cards.
• Horticulture Trade: Highlighted the FM's plans for large-scale clusters for vegetable production and the role of FPOs and startups.
• Climate Resilient Crops: Commended the focus on climate-resilient crops and new technology for food security and self-reliance.

Dr. Gyanendra Shukla, MD and CEO of Rallis India Limited

• Budget Allocation: Appreciated the ₹1.52 lakh crore for agriculture and ₹2.6 lakh crore for rural development.
• Agricultural Research: Emphasized the importance of research and the commitment to developing high-yielding and climate-resilient seeds.
• Digital Infrastructure: Stressed the need for digital public infrastructure to bridge the urban-rural divide.
• Natural Farming: Supported the budget's focus on natural farming and self-sufficiency in pulses and oilseeds.

Dr. K. C. Ravi, Chairman, CropLife India

• Agricultural Advancements: Praised the release of high-yielding and climate-resilient crop varieties.
• Digital Crop Survey: Welcomed the digital crop survey for Kharif in 400 districts.
• Oilseeds Self-Reliance: Supported the strategy for self-reliance in oilseeds to conserve foreign exchange and boost domestic production.
• Private Sector Role: Highlighted the need for production-linked incentive (PLI) schemes and tax benefits for R&D.

Dr. R G Agarwal, Chairman, Dhanuka Group

• Research and Technology: Emphasized the need for investment in R&D and advanced technologies.
• Digital Public Infrastructure: Supported the creation of digital public infrastructure for agriculture.
• International Market Image: Highlighted the benefits of digitizing land records and crop production estimates.

Sanjiv Kanwar, Managing Director, Yara South Asia

• Productivity and Resilience: Praised the focus on releasing climate-resilient crop varieties and establishing bio-research centers.
• Supply Chain Efficiency: Commended the development of large-scale clusters near FPO centers to reduce carbon footprints.
• Women in Agriculture: Highlighted the positive impact of increasing women's participation in the workforce.
• Ease of Doing Business: Supported the Jan Vishwas bill 2.0 for streamlining regulations and creating a conducive business environment.

Hemant Sikka, Co-Chair, FICCI, National Agriculture Committee and President – Farm Equipment Sector, Mahindra & Mahindra Ltd.

• Growth and Reforms: Appreciated the balance between fiscal prudence and growth, with a focus on youth, farmers, women, and weaker sections.
• Rural Development: Highlighted the increased allocation for rural development and agriculture.
• Support for Farmers: Commended the budget for strengthening farmers, the backbone of the nation.

Narinder Mittal, Country Manager & Managing Director – CNH India & SAARC

• Sustainable Practices: Praised the focus on sustainable practices and boosting productivity.
• Digital and Financial Infrastructure: Highlighted the benefits of digital infrastructure for informed decision-making and better crop management.
• Climate Resilience: Supported the emphasis on agricultural research for developing climate-resilient varieties.

Dr Anish Shah, President, FICCI

• Inclusive Budget: Appreciated the balance between agriculture, manufacturing, and services.
• Policy Continuity: Commended the focus on simplification, ease of doing business, and sustainability.
• Research and Innovation: Supported the budget's focus on research, innovation, and public capex.

Ajai Rana, Chairman, Federation of Seed Industry of India (FSII) & CEO & MD Savannah Seeds

• Agricultural Research: Praised the comprehensive review of agricultural research and the release of climate-resilient crop varieties.
• Self-Sufficiency in Oilseeds and Pulses: Highlighted the strategic move towards self-reliance.
• Digital Public Infrastructure: Supported the initiative to integrate 6 crore farmers into centralized registries.
• Cotton and Tax Benefits: Emphasized the need for a dedicated cotton technology mission and tax benefits for research investments.

Harsh Vardhan Bhagchandka, President IPL Biologicals

• Agriculture Focus: Supported the PM's Vision-2047 for a developed India with agriculture as a priority.
• R&D and Innovation: Highlighted the importance of R&D and innovation in increasing productivity and developing climate-resilient varieties.
• Sustainable Farming: Supported the initiatives for natural farming and bio-input resource centers.

Arun Alagappan, Executive Chairman, Coromandel International Limited

• Food Security and Rural Economy: Welcomed the focus on food security and strengthening the rural economy.
• Productivity and Resilience: Supported the review of agricultural research for improving productivity and developing climate-resilient crops.
• Natural Farming: Praised the commitment to organic farming and large-scale horticulture production.
• Technology and Efficiency: Highlighted the importance of digital crop surveys and weather-resistant seeds.

Amit Patjoshi, CEO, Palladium India

• Revolutionary Budget: Praised the comprehensive focus on productivity, resilience, and sustainable practices.
• Natural Farming: Supported the promotion of natural farming techniques and certification.
• Self-Sufficiency in Pulses and Oilseeds: Highlighted the strategic move towards reducing dependency on imports.
• BioResource Centres: Commended the establishment of 10,000 need-based BioResource Centres for innovation and support services.

Raju Kapoor, Director, Industry & Public Affairs, FMC India

• Transformation and Growth: Praised the budget for prioritizing agricultural transformation and growth.
• Agricultural Research: Supported the focus on productivity and climate resilience.
• Digital Infrastructure: Highlighted the benefits of digital public infrastructure and precision agriculture.
• Ease of Doing Business: Welcomed the Jan Vishwas bill 2.0 for improving business regulations and FDI in agriculture.

Kishan Karunakaran, CEO of Buyofuel

• Energy Transition Priority: Emphasis on achieving Vikisit Bharat 2047 with energy transition.
• Biofuel Industry Support: Financial assistance has simplified the biofuel supply chain.
• Clean Energy Focus: Budget highlights India's dedication to environmental sustainability.
• Regulations and Support: Anticipation of substantial government support for energy transition efforts.
• Policies for Energy Independence: Focus on rooftop solar, nuclear R&D, and AUSE technology in thermal power plants.

Sanjeev Agrawal, President, PHDCCI

• Agriculture Sector Focus: The allocation of Rs 1.52 lakh crore aims to enhance farmers' income, rural demand, and agricultural productivity.

Hiren Doshi, General Manager at SatSure

• Digital Public Infrastructure (DPI): Significant focus on DPI and Kisan Credit Cards.
• Crop Surveys and Financial Support: Digitizing crop surveys across 400 districts to enhance financial inclusion.
• Transformative Step: Government’s commitment to modernizing agricultural financing and integrating farmer details into registries.

Deepak Bharadwaj, Co-Founder and Director of IoTechWorld Avigation

• Agricultural Research and Innovation: Focus on developing climate-resilient crop varieties.
• Natural Farming Push: Initiating one crore farmers into eco-friendly practices.
• Digital Crop Survey: Leveraging technology for precision farming through Agribot drones.

Dr. Ashish Agarwal, Co-Founder & CTO, WRMS

• Climate Resilience and Adaptation: Emphasis on high-yielding, climate-resilient crop varieties.
• Rural Development: Allocation of Rs 2.66 lakh crore for rural development aligns with climate adaptation strategies.
• Technology Investments: Importance of IoT, AI, and data analytics for climate risk assessment.

Dr. Aman Mittal, Vice President, LPU

• Significant Allocation: ₹1.52 lakh crore for agriculture and allied sectors.
• Bio-Research Centers: Establishment of 10,000 centers and engagement of 1 crore farmers in natural farming.
• Supply Chain Strengthening: Financial support for shrimp breeding and large vegetable production clusters.

Anoop Kumar Upadhyay, Co-founder and Director of IoTechWorld Avigation

• Sustainable Agricultural Infrastructure: Focus on agricultural research and climate-resilient crop varieties.
• Extension of Welfare Schemes: Extension of Pradhan Mantri Garib Kalyan Anna Yojana for five years.
• Advanced Agritech Solutions: Support for Agribot drones to enhance farm productivity and sustainable practices.

Vimal Kumar Alawadi, Managing Director, Best Agrolife Ltd

• Productivity and Resilience: Emphasis on productivity and resilience in agriculture.
• Climate-Resilient Seeds: Release of 109 high-yielding, climate-resilient seeds for various crops.
• Natural Farming Initiatives: Push for natural farming and collaboration for digital public infrastructure.

Pallavi Dinodia, Co-Chair of Direct Tax Committee, PHDCCI

• Digitizing Land Records: Aims to streamline property transactions, reduce fraud, and enhance transparency.
• Economic Growth: Modernization will promote economic growth and empower landowners.

Ankur Aggarwal, Managing Director of Crystal Crop Protection Limited

• Significant Allocation: Rs. 1.52 lakh crore for agri and allied sectors.
• High-Yielding Crop Varieties: Introduction of 109 high-yielding, climate-resilient varieties.
• Digital Infrastructure: Promotion of digital public infrastructure for agriculture.

Madhur Singhal, Managing Partner, Chemical and Agriculture, Praxis Global Alliance

• Climate-Resilient Crop Varieties: Introduction of 109 new varieties for productivity and sustainability.
• Natural Farming Support: Engagement of 1 crore farmers in natural farming practices.
• Bio-Input Resource Centers: Establishment of 10,000 centers for organic and sustainable farming.

SK Chaudhary, Founder Director, Safex Chemicals Ltd

• Visionary Budget: Abolition of Angel Tax to empower startups.
• Comprehensive Agricultural Research: Review of agricultural research for climate resilience.
• Digital Public Infrastructure: Focus on digital crop surveys and issuance of Kisan Credit Cards.

Sneha Singh, Acting Managing Director, GFI India

• Focus on Sustainable Practices: Raising productivity and developing climate-resilient crop varieties.
• Self-Sufficiency in Pulses and Oilseeds: Emphasis on reducing dependence on imports.
• Skilling and Employment: Allocation of funds for skilling in agri-tech and food-tech sectors.

Shashi Kant Singh, Partner - Agriculture, PwC India

• Sustainable Growth: Allocation of over INR 1.5 lakh crore for the agriculture sector.
• Climate-Responsive Research: Emphasis on climate-smart seeds and collaborative research.
• Self-Sufficiency Mission: Strategic approach to strengthen pulses and oilseeds sector.

Maninder Singh Nayyar, CEO and Founder, CEF Group

• Productivity and Resilience Focus: Review of agricultural research for climate-resilient varieties.
• Natural Farming Initiatives: Certification and branding for natural farming practices.
• Supporting Initiatives: Commitment to building a stronger agricultural ecosystem.

Priyam Patel, MD, NK Proteins Pvt Ltd

• Focus on Productivity and Resilience: Allocation of Rs 1.52 lakh crore for agriculture and allied sectors.
• Self-Sufficiency in Oilseeds: Emphasis on groundnut, sesame, and sunflower.
• Digital Crop Surveys: Strengthening storage and marketing infrastructure.

Suhas Baxi, Co-founder and CEO of BioFuelCircle

• Investment in Renewable Energy: INR 30.5 lakh crore investment by 2030.
• Green Energy Focus: Support for rural enterprises and green fuels.
• Sustainability Goals: Aligning with India's energy security and sustainability objectives.

Dr. Sat Kumar Tomer, Founder & CEO, Satyukt Analytics

• Modernizing Agriculture: Development of digital public infrastructure.
• Climate-Resilient Varieties: Focus on productivity and climate resilience.
• Innovative Solutions: Private sector-driven innovation and research.

Atul Chaturvedi, Executive Chairman, Shree Renuka Sugars Ltd

• Focus on Agriculture and Growth: Allocation of Rs 1.52 lakh crore to agriculture.
• Energy Transition: Commitment to energy transition for climate change mitigation.
• Skills Development: Emphasis on employment and skills development.

Mahesh Girdhar, Managing Director and CEO, EverEnviro Resource Management

• Natural Farming and Resilience: Significant allocation for agriculture and allied sectors.
• Compressed Biogas Sector: Focus on sustainable agriculture and energy security.
• Circular Economic Practices: Strengthening contribution to economic development.

Priyam Patel, MD, NK Proteins Pvt Ltd (Repeated Entry)

• Focus on Productivity and Resilience: Allocation of Rs 1.52 lakh crore for agriculture and allied sectors.
• Self-Sufficiency in Oilseeds: Emphasis on groundnut, sesame, and sunflower.
• Digital Crop Surveys: Strengthening storage and marketing infrastructure.

Also Read: Highlights from Nirmala Sitharaman's Union Budget 2024-25 Presentation

These insights highlight the comprehensive and forward-looking approach of the Union Budget 2024-25, aimed at fostering a resilient, productive, and sustainable agricultural sector.