FM stresses the urgent need for reliable crop yield estimates
On Tuesday, Nirmala Sitharaman, the minister of finance and corporate affairs, made a compelling case for producing real-time forecasts of likely yields for all crucial crops, starting with the pulses and oilseeds that India frequently needs to import. She emphasized that the absence of such accurate farm output forecasts causes the “country to suffer.”
What was the suggestion made by the FM regarding the assessment of crop yields?
- Nirmala Sitharaman, Minister of Finance and Corporate Affairs, has underlined the necessity for real-time agricultural yield evaluations, beginning with vital products like pulses and oilseeds, which India frequently imports because there aren’t any trustworthy predictions of farm output.
- She emphasized the significance of putting in place an automated real-time yield estimation system, comparable to the Yes-Tech system developed for wheat and rice crops in partnership with ISRO and the Indian Council of Agricultural Research for the kharif season.
What are the reasons for the assessment of the crops?
- Import Planning: More accurate import planning would be made possible by real-time crop output projections. The government might proactively organize imports to ensure a steady supply of crucial crops like pulses when there is a shortfall in domestic output.
- Supporting Farmers: Before planting their crops, farmers need precise estimates of crop pricing and demand. Farmers can avoid price decreases at the last minute, which frequently happens when imports are unexpectedly required.
- Management of Buffer stockpiles: The system can aid in the efficient management of buffer stockpiles. Based on current crop assessments, the government can decide how much quantity is necessary for buffer stocks.
- Reduce Import Dependence: India is one of the major importers of edible oil, and the government wants to increase agricultural output autonomy. Real-time assessments can help the nation’s reliance on imports for its most important crops.
- Accessing Global Markets: Real-time data can be used by India to strategically access global markets and source various types of pulses and other commodities, assuring a steady supply.
The ultimate objective is to make well-informed decisions that help farmers and the economy by preventing unexpected price changes and addressing shortages through prompt preparation. Real-time evaluations are thought to be an essential instrument for reaching these goals and developing India’s agriculture industry