Crop Protection

Empowering Indian Agriculture Through Budget 2025-26: FMC India’s Vision

23 January 2025, New Delhi: As India’s agricultural landscape undergoes significant transformation, the upcoming Union Budget for 2025-26 offers a pivotal opportunity to reinforce the sector’s growth and resilience. FMC Corporation, a global leader in agricultural sciences, has shared its expectations for the budget, highlighting measures that could empower farmers and ensure sustainable agricultural practices. Below are insights from Mr. Ravi Annavarapu, President, FMC India, on how the budget could bolster the sector and benefit farmers.

Mr. Ravi Annavarapu, President, FMC India

Supporting Farmers with Affordable Credit and Income Support

“Increased access to affordable credit remains essential for our farmers,” says Mr. Annavarapu. He emphasizes the need for the government to expand interest rate allocation programs and streamline loan processes to ensure timely access to credit. Strengthening the PM-Kisan scheme with increased payouts and broader coverage is another critical recommendation, providing much-needed income support to farmers across the country.

A more comprehensive and affordable crop insurance program is also vital. Such a program would help mitigate risks associated with unpredictable weather patterns and market volatility, ensuring that farmers have a safety net during challenging times.

Reducing the Cost of Farming

FMC India calls for significant measures to reduce the cost burden on farmers. Mr. Annavarapu advocates for a drastic reduction in import duties and GST on pesticides to make high-quality, innovative products more accessible. “While increased customs duties on pesticides might benefit some, it would ultimately harm farmers,” he warns. Specific recommendations include reducing customs duties on intermediates required for manufacturing pesticides from 7.5% to 2.5% and lowering customs duties on pesticides from 10% to 5%.

Investment in Research and Innovation

The budget must prioritize investments in agricultural research and development (R&D), particularly in climate-resilient crop varieties. Innovation in crop improvement, pest management, and sustainable farming practices can help farmers adapt to changing environmental conditions and enhance productivity.

Additionally, Mr. Annavarapu underscores the importance of supporting and expanding Production Linked Incentive (PLI) schemes for the agrochemical and fertilizer sectors. These initiatives will encourage domestic production, reduce reliance on imports, and foster innovation in the industry.

Promoting Sustainable Agriculture and Advanced Technologies

To drive long-term growth, the adoption of advanced technologies like precision agriculture and biotechnology must be encouraged. “Sustainable agriculture practices and climate-resilient crops are paramount for the long-term benefit of our agricultural sector,” Mr. Annavarapu asserts. Policies that support these advancements will enable farmers to achieve higher productivity and efficiency while reducing environmental impact.

A Holistic Approach to Transforming Indian Agriculture

“The 2025-26 budget can be a transformative one for Indian agriculture,” concludes Mr. Annavarapu. “It can lay the foundation for a more resilient, productive, and sustainable agricultural sector by being more inclusive, which will ultimately benefit both farmers and the nation’s economy holistically.”

By addressing these key areas, the government can not only enhance the livelihoods of farmers but also ensure the agricultural sector’s contribution to the nation’s economic growth and sustainability. As stakeholders eagerly await the budget announcement, it is clear that inclusive and forward-looking policies will be essential to shaping the future of Indian agriculture.

Also Read: Budget 2025: A Boost for Farmers, but GST on Inputs Needs Revision – Dr. R.G. Agarwal

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