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Feb 18, 2010

Union Budget Analysis - Indian Agriculture Sector Needs Core Attention

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Business News This Week: The Union Budget 2010-11 will be presented in Parliament in this month. It's busy time for the Finance Minister, who is preparing the Union Budget for the country and the people. According to the Union Budget 2009-10 "target for agriculture credit flow set at Rs.3,25,000 crore for the year 2009-10, while it was at Rs.2,87,000 crore in 2008-09." The agriculture sector in India needs the attention. The contribution of the agriculture to the Indian economy however may low be but major popular in the rural India depends on.

The reality of the agriculture sectors comes to live whenever a farmer ends life due to loan burden. Many reports of farmers suicide have been reported through out the year. In the budget, farmers are defined as the 'Real Heroes', when it comes to talk over the death of farmers the tag abolished automatically, nobody is going to be blamed for that. It's just like - reality bites!

There are many expectations from the finance minister through the union budget; farmers need the attention to improve their standard of living. The macro economic indicators represent the nation's growth, but real there hardly do any parameter exists the show the improved standard of living of a farmer - the real hero!

In 2009-10 Union Budget, Rs 13,500 cr agricultural revival package was implemented in 25 states in India. This time the finance minister may look for the better procurement policy, which could be the best mechanism to tab the food inflation. In order to develop the Public Distribution System, there is urgent need to have the better procurement policy. This budget may give more relaxation in the farm credit as the previous budget did for the farmers. Hope the coming union budget will bring some big changes for the farmers of India to enjoy a bit.


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