The Union Finance Minister, Mr Pranab Mukherjee, should accord the status of infrastructure industry to seed companies to promote research and development in the sector.
“The income of seed companies should be treated as agricultural income. The seed industry should be treated as a priority sector for lending by banks,” said Mr Sushil Karwa, Managing Director of Krishidhan Seeds Pvt Ltd, in a pre-Budget memorandum.
Such a move will help farmers get quality seeds besides encouraging companies in research and development of seeds.
Mr Karwa said subsidies should be extended private firms producing seeds.