The Karnataka government is looking at an investment of close to Rs 50,000 crore in the agriculture sector from both the government agencies and the private sector to boost farm production and improve economic conditions of an average farmer.
“The investment levels in the farm sector are dismally low in the recent years. In order to generate better investment in the sector, the state government has planned to organise an agriculture investors’ meet in June this year,” minister for agriculture Umesh Katti said.
Talking to reporters after releasing the Agri-doctors’ diary 2011, here today, he said the agri investors’ meet would be organised on the lines of Global Investors’ Meet held last year to attract the private sector to invest in the state. Mahindra & Mahindra has been asked to provide consultancy services to hold the event, he said.
A road show would be organised in seven countries to create awareness among the investors about available infrastructure in the state, he said.
Expressing concern over decline in the investment in the sector, he said the Department of Agriculture has urged Chief Minister B S Yeddyurappa to present a separate agricultural budget for effective implementation of schemes.
“The chief minister has positively responded to the proposal. Although nearly 70 per cent of the population depended on farm sector for their livelihood, no separate budget had been presented at the central and state levels so far,” Katti said.
Stating that there was a need to announce minimum support price for commodities before the commencement of the sowing, he said such a system would ensure price stability in the market. Price of tur dal plummeted this year following increase in area under the crop from 350,000 acres last year to 900,000 acres this year. Prices dropped from Rs 130 per kg to Rs 40 a kg in the last one year, he said and added that the case of sugarcane growers was no different this year.