India asks ADB not to disengage from agriculture sector
India on Monday bluntly told the Asian Development Bank that it is both premature and inappropriate for the institution to disengage itself from agriculture at a time when the escalating food prices across the world is hurting poor the most.
By PTI |
LONDON: India on Monday bluntly told the Asian Development Bank that it is both premature and inappropriate for the institution to disengage itself from agriculture at a time when the escalating food prices across the world is hurting poor the most.
"Given the escalating food prices across the world, which hurt the poor the most, it is both premature and inappropriate for ADB to disengage from agriculture fully," India's Finance Minister P Chidambaram told the 41st meeting of the Bank in Madrid, Spain.
He noted that "it is well established that robust agriculture infrastructure can help prevent huge wastes which occur due to inappropriate handling, storage, transportation and marketing of agricultural produce."
Improvement in irrigation infrastructure, he added, is equally important for increasing food grain production.
"Strengthening the farm-to-market link is critical for improving food security and this could indeed be an important area of ADB intervention," the Minister said.
The Indian delegation to the ADB, which is meeting amid fears of global slowdown and food crisis, included Finance Secretary D Subba Rao, TERI Chairman Rajendra K Pachauri and Infrastructure Finance Development Company CEO Rajiv Lall.
The four-day ADB Annual General Meeting would discuss the economic outlook for the Asia-Pacific region and issues relating to poverty reduction and climate change.
On environmentally sustainable growth, Chidambaram said India supported the ADB's focus on climate change and urban environment.
"Given the escalating food prices across the world, which hurt the poor the most, it is both premature and inappropriate for ADB to disengage from agriculture fully," India's Finance Minister P Chidambaram told the 41st meeting of the Bank in Madrid, Spain.
He noted that "it is well established that robust agriculture infrastructure can help prevent huge wastes which occur due to inappropriate handling, storage, transportation and marketing of agricultural produce."
Improvement in irrigation infrastructure, he added, is equally important for increasing food grain production.
"Strengthening the farm-to-market link is critical for improving food security and this could indeed be an important area of ADB intervention," the Minister said.
The Indian delegation to the ADB, which is meeting amid fears of global slowdown and food crisis, included Finance Secretary D Subba Rao, TERI Chairman Rajendra K Pachauri and Infrastructure Finance Development Company CEO Rajiv Lall.
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The four-day ADB Annual General Meeting would discuss the economic outlook for the Asia-Pacific region and issues relating to poverty reduction and climate change.
On environmentally sustainable growth, Chidambaram said India supported the ADB's focus on climate change and urban environment.
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