PM’s address at post-budget webinar on ‘Agriculture and Cooperatives’
Speaker: Narendra Modi
Date: 24 Feb, 2023

A warm welcome to all of you to this crucial budget-related webinar. Just like in the last 8-9 years, this time too agriculture has been given a lot of importance in the budget. For the last few years, if you have been looking at the newspapers the very next day of the budget, you would have realized that every budget has been called a ‘Gaon, Garib aur Kisan wala budget’ (A budget for the village, poor and farmers). In 2014, the agriculture budget was less than Rs 25 thousand crore, before our regime began. Today the agriculture budget of the country has increased to more than Rs 1 lakh 25 thousand crore. Friends, After independence, our agriculture sector remained under scarcity for a long time. We depended on the world for our food security. But our farmers not only made us self-reliant, but also made exports possible today. It’s because of them that today India is exporting various types of agricultural products. We have made it easier for our farmers to access domestic and international markets. But we also have to keep in mind that whether it is self-reliance or exports, our aim should not be limited to rice and wheat only. For example, in 2021-22, Rs 17 thousand crore had to be spent on the import of pulses. Rs 25 thousand crore was spent on the import of value-added food products. Similarly, in 2021-22, Rs 1.5 lakh crore was spent on the import of edible oil. About Rs 2 lakh crore was spent on the import of these products, which means this money went out of the country. However, this money can reach our farmers, if we become self-reliant in these agricultural products as well. For the last few years, decisions have been taken in the budget to take these sectors forward. We increased MSP, promoted pulses production, and increased the number of food processing food parks. Besides, work is going on in mission mode to become completely self-reliant in terms of edible oil. Friends, Unless we address the challenges related to the agriculture sector, the goal of holistic development cannot be achieved. Today, many sectors of India are progressing rapidly and our zealous youth are actively participating in it but their participation in agriculture is less even though they are well aware of its importance and possibilities to move forward in it. Private innovation and investment are still away from this sector. To fill this void, several announcements have been made in this year’s budget. For example, the promotion of open source-based platforms in the agriculture sector. We have put forward digital public infrastructure as an open-source platform. This is exactly the same as the open platform of UPI, through which digital transactions are taking place today. Today, just as revolution is taking place in digital transactions, similarly immense possibilities of investment and innovation are being created in the Agri-tech domain. There is a possibility to improve logistics; there is an opportunity to facilitate reaching the bigger markets; there is an opportunity to promote drip irrigation through technology, as well as to reach the right person on time with the right advice. Our youth can work in these areas on these possibilities. Private soil testing labs can be established in the same way as labs work in the medical sector. Our youngsters can become a bridge of information between the government and the farmer with their innovation. They can tell which crops can give more profit. They can use drones for crop estimation. They can help in policy making. You can also provide real time information about the changes in the weather at any place. That is, there is a lot for our youth to do in this sector. By actively participating in this sector, they can help the farmers and will get an opportunity to move forward. Friends, Another important announcement has been made in this year’s budget. Accelerator fund will be set up for Agri-tech startups. So, we are not just building digital infrastructure, but also creating funding avenues for you. So now it is for our young entrepreneurs to move forward with enthusiasm and achieve their goals. We also have to keep in mind that 9 years ago Agri startups were negligible in the country, but today there are more than 3000 Agri-startups. But we still need to move forward at a faster pace. Friends, You all are aware that on the initiative of India, this year has been declared as the International Year of Millets. Millets getting internationally recognized means that a global market is getting ready for our small farmers. The country has now given the identity of ‘Shri Anna’ to coarse grains in this budget itself. The way ‘Shri Anna’ is being promoted today will benefit our small farmers immensely. The possibility of growth of such startups has also increased in this area, which will make it easier for the farmers to access the global market. Friends, A new revolution is taking place in the cooperative sector of India. Till now it has been limited to some states and some regions of the country. But now it is being expanded to the whole country. Tax benefits have been given to the cooperative sector in this budget. New cooperative societies engaged in manufacturing will get the benefit of a lower tax rate. TDS will not be levied on cash withdrawals up to Rs 3 crore by co-operative societies. Earlier the cooperative sector had this feeling that they were being discriminated against in comparison to other companies. This injustice has also been done away with in this budget. Under an important decision, tax exemption has been given on the payments made by the sugar cooperatives before 2016-17. This will benefit the sugar cooperatives to the tune of Rs 10,000 crore. Friends, In areas where cooperatives do not already exist, cooperatives related to dairy and fisheries will greatly benefit small farmers. In particular, there are huge opportunities for those engaged in fisheries. Fish production in the country has increased by about 70 lakh metric tonnes in the last 8-9 years. Before 2014, it took almost thirty years to increase production by that much. In this year’s budget, a new sub-component worth Rs 6000 crores has been announced under the PM Matsya Sampada Yojana. This will give a boost to the fisheries value chain as well as the market. This will create new opportunities for fishermen and small entrepreneurs. Friends, We are also working fast towards promoting organic farming and reducing chemical-based farming. PM-PRANAM Yojana and Gobardhan Yojana will be of great help in this direction. I hope we all as a team will take forward these matters. I once again wish you all the best for today’s webinar. I am sure that together all stakeholders like you will find ways to ensure how to take the maximum benefit of this budget to the maximum number of people as soon as possible by combining your strength with the provisions of this budget and your resolutions. I am sure that you will definitely take the agriculture sector and the fisheries industry to the desired heights. Contemplate, contribute original ideas, prepare a roadmap, and I am sure that this webinar will be successful in preparing a complete roadmap for one year. Best wishes, and my heartiest thanks!