Though adverse impact of climate change has been a subject of intense debate for some time, the allocation of Rs 200 crore for research in climate change-ready plants and seeds will make a difference in agricultural research.

“Food security and agricultural development in the coming decades would depend upon scientific and technological breakthroughs in raising productivity. We have to develop plant and seed varieties that yield more and can resist climate change,” Mr Pranab Mukherjee said in the Budget speech.

The sum would go to institutions and research teams responsible for scientific breakthroughs in the mandate area. Increased targets for farm credit and the continuation of interest subvention to farmers for crop inputs, if implemented well, will help farmers access easy credit, encouraging them to use the best farm technologies and inputs.

The Association of Biotechnology Led Enterprises (ABLE) and Angel Broking say this allocation would help in development of new technologies for seeds and plants that are resistant to climate change, while increasing productivity.

“A grant of Rs 350 crore to Agriculture Universities will also drive research,” Mr Nitin Deshmukh, Member (Executive Council of ABLE) and Chief Executive officer of Kotak Private Equity, said.

Extension of weighted deduction of 200 per cent by five years on all in-house research and development and provision of a weighted deduction of 150 per cent on expenditure incurred for agri-extension services will facilitate growth in agricultural sector.

“With this all stakeholders engaged in extension of research will be encouraged to invest in the upgradation of cultivation and agricultural practices for improved returns to the farmers,” Mr D. Narain, India Region Lead of Monsanto, said.

>kurmanath@thehindu.co.in

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