Eco Survey pitches for policy shift to cut cereal output, boost pulses, edible oils

New Delhi: The pre-budget document for the 2024-25 fiscal has suggested policy reforms to discourage overproduction of cereals while boosting output of pulses and edible oils, which the country currently imports to meet domestic shortages.
 The Economic Survey 2024-25, tabled in Parliament on Friday, stressed that India’s agriculture sector has “significant untapped growth potential” despite various growth initiatives.
 Farmers must be allowed to receive unimpeded price signals from the market, with separate mechanisms to protect vulnerable households, it added.
 The document outlined three key policy shifts needed – establishing market mechanisms for price risk hedging, preventing excessive fertiliser use, and discouraging production of water and power-intensive crops that are already in surplus.
 “These policy shifts will help lift agricultural productivity in the economy by boosting land and labour productivity in the sector,” the survey said.
 Stating that India faces a persistent deficit in the production of pulses and oilseeds, the document said the slower growth rate of oilseeds at 1.9 per cent raises concerns, especially considering India’s heavy reliance on imports to satisfy domestic edible oil demands.
 To address this, the document suggested focused research to develop climate-resilient crop varieties, enhancing yield and reducing crop damage. Efforts to expand the area under pulses in rice-fallow regions are likely to help.
 It also called for the promotion of extension activities and training for farmers on the best practices, the use of high-yield and disease-resistant seed varieties, and targeted interventions to improve agricultural practices in the major growing regions for pulses and oilseeds.

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