Yeddy Now plans Global Investors’ Meet for Agriculture Sector

From Our Special Correspondent
Daijiworld Media Network - Bangalore

Bangalore, Jan 27: After the phenomenal success of the Global Investors’ Meet (GIM) in June last year, which attracted a record number of investors and investments in diverse areas of industrial sector, Karnataka Chief Minister B S Yeddyurappa is now planning yet another GIM for the agricultural sector in June this year.

Releasing Agri-Doctors’ Dairy 2011, Agriculture Minister Umesh Katti said the GIM on the lines of the one held for the industrial sector would be organised to bring in investment in the farm sector.

The event would be organised in June and a private firm Mahindra and Mahindra has been asked to provide consultancy services to hold the event successfully.

Katti said at least Rs. 50,000 crore was likely be invested in the agriculture in the next five years in the State to give boost farm production. A road show would be organised in seven countries to create awareness among the investors about available infrastructure in the State. The government had organised the GIM last year to attract investment in various sectors of the economy, particularly industry. A new agricultural policy was announced during the Kumaraswamy government to increase investment in the farm sector.

Expressing concern over decline in the investment in the sector, the minister said the Department has urged the Chief Minister to present a separate agricultural budget for effective implementation of schemes.  The Chief Minister has positively responded to the proposal, he said indicating that a decision on the proposal would be taken shortly.  The department has urged Yeddyurappa to allocate at least Rs. 3,000 crore in the State budget for 2011-12 for the sector as against Rs. 2000 crore earmarked in 2010-11.

Although nearly 70 per cent of the population depended on farm sector for their livelihood, no separate budget had been presented at the central and state levels so far, he regretted.

Stating that there was a need to announce minimum support price for commodities before the commencement of the sowing, he said such a system would ensure price stability in the market.

Price of tur dal plummeted this year following increase in area under the crop from 3.5 lakh acres last year to nine acres this year. Prices dropped from Rs. 130 to Rs. 40 a kg in the last one year. The sugarcane growers also met a same fate following sharp decline in the prices, he said.