Official group moots Rs 7,000 cr investment in agriculture

Official group moots Rs 7,000 cr investment in agriculture
Bangalore (PTI): An Official Group set by Karnataka Government has recommended setting up of a "Karnataka Agriculture Mission" and an investment of Rs 7,000 crore to promote development of agriculture and allied activities in the state.
The Group in its report submitted to Governor Rameshwar Thakur today, has called for implementation of a multi-pronged strategy for improving the economic condition of farmers.
The 12-member official group headed by Principal Secretary, Finance Department, M R Srinivasa Murthy, was constituted in June last year by the then Chief Minister H D Kumaraswamy to suggest measures to improve farmers economic conditions after the state witnessed a spate of suicides by farmers.
The Group has recommended implementation of "The Group Approach to farming" by organizing farmers into groups in every village for taking up cultivation of commonly agreed crops, dairy farming, horticulture etc.
This would enable the farmers' group to obtain loans from financial institutions and technical advice from various extension agencies more easily.
Diversification of farming is another strategy advocated by the group to reduce risks and increase incomes of farmers.
The group has recommended adoption of the motto "no field with one crop and no farmer with a single income" to create multiple sources of farm income, official sourcrces said.
The Group in its report had recommended that each farmer's household should be enabled to create for itself at least two or three sources of sustainable income so that the risk of crop failures with the resultant distress is avoided.
It has strongly advocated that as part of the financial inclusion programme being pursued by Banks, the credit needs of every household of farmers should be fully addressed by the Banks.
"Only universal access to agricultural credit will enable small farmers to modernize their agricultural practices and derive higher incomes", it suggested.
Recognizing the need for making huge investments in the sector of processing and marketing infrastructure, the Group has recommended that private enterprise must be supported in developing marketing and processing infrastructure.
It suggested that the funds available to the state under the National Agricultural Development Programme along with state's own resources should be used over the next five years to invest about Rs 7,000 crore for developing the agricultural sector. A provision of revolving fund should be made to enable farmers' groups to meet their emergency cash needs for urgent medical expenses among others.