-98.33
The budget has made great moves on infrastructure development, including cold storages and warehousing, and irrigation development, which will both be positive for agriculture. There is also a good focus on knowledge creation with research and development (R&D) expenses being incentivised for the industry. However, there is no focus at all on incentivising knowledge spread using tax breaks on extension services by private companies.
A lot more could have been done on funding agricultural universities and research institutions and also the primary and secondary basic education. Education seems to have taken a back seat in these budget proposals, though infrastructure has been made a primary focus.
The nutrient-based subsidy regime is great for the sector. However, a proper delivery mechanism to ensure that farmers make subsidy payments efficiently and on time, would be critical to ensure success in the long term.
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