Gold Silver Reports ->> India is gearing up for Union Budget 2016 which attracts much attention as expectations are high amidst global commodity price slump and volatile economy. Arun Jaitley, Union Finance Minister, has been presented with many pre-budget recommendations including the proposal for improving the farm sector.
Major recommendations include higher investment in irrigation and rural infrastructure sector as this will increase the spending capacity of the rural people which in turn will create demand for various items and increased economic activity.
The recommendations include measures to attract youth to agriculture sector by making farming highly mechanized and improving productivity. For this ‘Agriculture Equipment Banks’ may be set-up, segments of land be made in three categories, viz, barren land, single crop land and multi-crop land and separate rules for dealing with each category may be made.
Jaitley said the current level of growth rate of Indian economy and sound fiscal fundamentals present better growth prospects for the next Financial Year 2016-17 as well. – Neal Bhai Reports