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Budget 2022 : Govt may incentivize value addition of agricultural produce

18 Jan 2022 1:47 pm
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New Delhi, January 18 (Commoditiescontrol) In a bid to increase income of the farmers, the Central government is mulling a plan to boost agriculture sector through incentivizing value addition and such a plan may be announced in the upcoming budget, said a source.

It may be recalled that Prime Minister Narendra Modi had announced for doubling farmers' incomes by 2022-23 in his first term, but it has become difficult to achieve the target due to COVID-19 pandemic.

However, agriculture sector performed well during the pandemic and it gave impetus to the Indian economy to fight against COVID-19.

As per the source, the strategy of the government will be to support backward linkages to the farm which will also involve support for exports to encourage farmers establish markets for their products.

The government is also eyeing incentives over and above the ₹10,900 crore production-linked incentive (PLI) scheme for food processing to promote the creation of relevant storage and logistics infrastructure.

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