Call for MSME Export Fund

 

PIB.
Finance Minister Nirmala Sitharaman at one of the two Pre-Budget meetings on 17 Dec 2019.

 

Representatives of the Agro-processing and Rural Development sectors have told Finance Minister Nirmala Sitharaman to boost investment in agricultural sector and enhance market access to farmers.

The suggestions were made to Finance Minister Nirmal Sitharaman for the forthcoming General Budget 2020-21 on 17 Dec 2019 in Delhi.

The Minister also received suggestions on regulatory environment impacting private investment, measures for promotion of exports amidst rising protectionist tendencies, Industrial production, logistics, Media & Entertainment services as well as IT & IT enabled services among others.

These suggestions came from Pre-Budget Consultations with stakeholder Groups from Industry, Trade and Services Sectors in connection with the forthcoming Budget 2020-21.

The representatives of Industry, Services and Trade Sectors called for Export Development Funds for helping MSME exporters and ease of investment flow into manufacturing sector among others.

Significant suggestions received from Agriculture & Agro Processing sectors included building brands of Indian agricultural products abroad, giving processing industry benefits and importance equivalent to agriculture, accelerate depreciation benefit to agri-processing industry, encouraging development of farm eco-system services and market intelligence systems.

They also called for developing agro medicinal forestry, fiscal incentives for farmers with primacy to soil health, crop diversification vis-à-vis agro climatic suitability, revisiting of Food Security Act, incentives for promotion of organic farming, extending subsidy to the producers of green manure, bio-fertilisers & bio-pesticides and steps for promoting large scale production of compost by utilisation of urban solid waste.

Representatives also felt the need for expansion of multi-dimensional research in Agriculture for development of new technologies and further suggested for promoting start-ups in institutes of the ICAR & Agriculture Universities for young agricultural students, said the Ministry of Finance in a release on the two meetings held separately 17 Dec 2019. fiinews.com

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