Union minister Narendra Singh Tomar emphasises on raising private investment in farm sector
NEW DELHI: Union Agriculture minister Narendra Singh Tomar on Friday stressed the need to increase private investment in the farm sector and asked entrepreneurs to set up food processing units.
The minister was addressing a summit on 'Agriculture and Food Processing Opportunities in Madhya Pradesh' organised by the Ministry of Food Processing, in partnership with ASSOCHAM and Invest India through video conference, according to an official statement.
Tomar, who is also the food processing minister, encouraged entrepreneurs to set up food processing units in the country, and assured them that the government will provide all possible help. He informed that the government is granting speedy approvals to the food processing projects. "The Union minister also stressed on the need to bring private investment and latest technology in the field of farming," the statement said.
Tomar stated that the government is making continuous efforts to increase the income of the small farmers. Stating that 86 per cent of farmers in the country are small farmers, the minister said self-sufficiency of villages and growth of agriculture sector cannot be imagined without their empowerment.
Tomar said that the central government is making efforts so that small and medium farmers could also cultivate expensive crops, and get the benefit of agro-technology to produce crops of global quality standards.
Under the Aatmanirbhar Bharat Package, Rs 1 lakh crore has been allotted for agricultural infrastructure which will help in bringing infrastructure such as cold storage and warehouses to villages. He further stated that the central government is setting up 10,000 new farmer producer organisations (FPOs) in the country with an estimated spending of Rs 6,865 crore.
Farmers can get the benefit of reduced costs, better market and integrated irrigation facility by joining FPOs. FPOs will be given a three per cent rebate in interest for loans.