In favour of according industry status to the agriculture sector: Nirmala Sitharaman

MUMBAI: The Commerce and Industry Minister Nirmala Sitharaman on Wednesday said that she was in favour of according industry status to the agriculture sector. Granting industry status to agriculture sector would mean that it could avail facilities and benefits on a par with an industry.

“I think agriculture sector should be given industry status if so many people are dependent on it,” Sitharaman said while addressing the 4th SBI Banking and Economics Conclave in the financial capital. “And remember the policies that have opened up in FDI. We are talking about FDI in plantation crops, so why not have more money come in also to ensure greater production in agriculture. Agriculture is going to be the biggest component of our exports and therefore yes I would be in favour of agriculture being accorded industry status.”

The Commerce Minister’s statement comes at a time when Uttar Pradesh, Maharashtra and Punjab have already waived lakhs of farm loans while farmer agitation continues in states like Madhya Pradesh demanding a similar favour.

In May this year the Centre had informed the Supreme Court that despite a multi-pronged approach to improve income and social security of farmers, over 12,000 suicides were reported in the agricultural sector every year since 2013.

The government has time and again reiterated its efforts towards doubling farmers income by 2022. Agrarian distress is manifest from a large number of farmers living below the poverty line and unfortunate incidents of suicides can be addressed by enabling farmers to increase their income.