Outcome-based subsidies are vital for innovation: Experts
Subsidies based on outcomes rather than input-oriented would be the best way to go forward for promoting innovation, experts said, while participating in a panel discussion at the BusinessLine Agri Summit here on Friday.
“Outcome-based subsidies can be a driver for bringing in technology into Indian farming. For example, Nabard earlier used to give projects which are input-oriented. Now, Nabard changed it. Now, its projects insist on outcomes and the renumeration is now linked to the outcome,” said M L Jat, Principal Scientist and Systems Agronomist at the International Maize and Wheat Improverment Center.
How to risk-proof agriculture
What are the major risks that confront farmers and the farm sector? There are a whole lot of them — droughts, floods, pests and diseases, access to markets and return on investment.
Himanshu Goyal, Sales and Alliances Leader of the Weather Company, an IBM Business, said crunching of weather data can help farmers take decisions. It will also help input manufacturers plan their production strategies.
Spark Yellow Revolution to boost cultivation of oilseeds: Nasim Ali
The government should set in motion a yellow revolution to boost oilseeds cultivation in the country to meet the growing edible oils demand, said Nasim Ali, CEO, Oil Palm Plantations Business, Godrej Agrovet.
“Since we already have a green, white, blue revolutions, it is high time to go for a yellow revolution to enable the country to become self-sustainable in edible oil production”, he said while addressing a panel discussion on “Balancing farm productivity and sustainable agriculture” in the BusinessLine Agri Summit here on Friday.
“We are now importing around 150 lakh tonnes of edible oil valued at around ₹77,000 crore, which is causing a severe drain to the exchequer,” he said.
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