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Business Daily from THE HINDU group of publications Wednesday, July 26, 2006 |
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News Update as at 18.00 hrs (IST)
Agri-Business NEW DELHI: Agricultural transformation on a sustainable basis can be brought about only through continuous technological progress, the Agricultural and Food Minister, Mr Sharad Pawar, said on Wednesday. "Growth in agriculture can be sustained only through continuous technological progress," Mr Pawar said after launching World Bank funded National Agricultural Innovation Project (NAIP) here. Drawing attention to the low level of agricultural growth rate in recent years, Mr Pawar said, "low and highly fluctuating growth rate has caused serious distress to farmers". The sector grew at about two per cent per annum during the 10th Plan as against the anticipated annual growth rate of four per cent per annum. Problems have also become acute due to globalisation, liberalisation and climate change, he said. Against the backdrop of these problems to growth, he said, future of Indian agriculture depends on how production, productivity and profitability can be enhanced through continuous technological progress. On launched NAIP, ICAR Director General Mangala Rai said, "the project would be implemented in consortium mode involving all stakeholders". The $250 million project is planned for six years effective from July 01. The World Bank has extended $200 million credit support to the project. - PTI
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