Inclusive growth
The economy either grows or declines in a country. Due to COVID the economic all over the world decreased. Now some improvements are there despite Omicron waves. Our country assumes the GDP growth at 11.5%.
Criticisms are there that richer becomes richest and the poor becomes the poorest. Everyone should grow in an economy. No one should be left backward. Therefore the concept of inclusive growth emanated. Inclusive growth is not only including everyone but providing equity and ownership to share in the success of a region. Inclusive growth perfectly facilitates the stability and development of the global economy. On the one hand, inclusive growth will add new impetus and vitality providing new room for economic growth.
There are several inter-relate elements of inclusive growth as detailed below-
- Poverty reduction;
- Employment generation and increase in quantity and quality of employment;
- Agricultural development;
- Industrial development;
- Social sector development;
- Reduction in regional disparities;
- Protecting the environment;
- Equal distribution of income.
Proposals in budget
The following are the proposals in the budget for the inclusive growth for the year 2022 – 2023-
- ₹ 2.37 lakh crores direct payment to 163 lakhs farmers for procurement of wheat and paddy;
- Chemical free Natural Farming will be promoted throughout the country, with a focus on farmers’ lands in 5 km wide corridors along river Ganga at the first stage.
- Since the year 2023 has been announced as the ‘International Year of Millets, the Central Government proposed to provide the support for post harvest value addition, enhancing domestic consumption and for branding millet products nationally and internationally.
- The Central Government proposed to implement a rationalized and comprehensive scheme to increase the domestic production of oil seed in order to reduce the dependence of import on seeds.
- With the help of public sector research and extension institutions along with private agri-tech players and stakeholders of agri-value chain, the Central Government proposed to launch a scheme in PPP mode for delivery of digital and hi-tech services.
- Drones can help farmers to optimize the use of inputs (seed, fertilizers, water), to react more quickly to threats (weeds, pests, fungi), to save time crop scouting (validate treatment/actions taken), to improve variable-rate prescriptions in real time and estimate yield from a field. The photos and real-time coverage drones provide enable farmers to inspect irrigation equipment, monitor pesticides and fertilizers, and gather plant and environmental data. This allows them to make informed, immediate decisions about issues concerning output, management, and even overall crop health. The use of ‘Kisan Drones’ will be promoted for crop assessment, digitalization of land records spraying of insecticides and nutrients.
- The Central Government will encourage revising the syllabus of agricultural universities to meet the needs of natural, zero-budget and organic farming, modern-day agriculture, value addition and management.
- The Finance Minister indicated that NABARD will facilitate a fund with blended capital, raised under the co-investment model. The said fund will be utilized to finance start ups for agriculture and rural enterprise. This fund is relevant for farm produce value chain. The activities of such start ups will include support for FPOs, machinery for farmers on rental basis at farm level and technology including information technology based support.
- The Central Government proposed to take up an estimated cost of ₹ 44605 crores for the implementation of Ken-Betwa Line Project. The said project will provide irrigation benefits to 9.8 lakh hectare of farmers’ lands, drinking water supply for 62 lakh people, 103 MW of hydro and 27 MW of solar power.
- The Central Government will support the implementation of the five river links namely Damanganga-Panjal, Par-Tapi-Narmada, Godavari-Krishna, Kirhsna-Pennar and Pennar-Cauvery once a consensus is agreed between the beneficiary States.
- The Government will provide a comprehensive package for farmers with participation of State Governments to adopt suitable varieties of fruits and vegetables and to use appropriate production and harvesting techniques.
Conclusion
The Central Government made some major announcements that will be beneficial for the growth of agriculture and farmers in the country. The vibrant villages programs are inspiring for achieving all rounded inclusive growth.
