Nirmala Sitharaman is presenting the Budget 2023. (Photo/ANI)
Finance Minister Nirmala Sitharaman announced Digital Public Infrastructure for Agriculture and Agriculture Accelerator Fund in her Budget 2023 speech
Finance Minister Nirmala Sitharaman announced the budget for 2023-24 financial year in which agri-technology emerged as one of the big focus of the government.
In his speech, the minister said: “Our vision for Amrut Kaal includes a technology-driven and knowledge-based economy with sound public finances and a strong financial sector. To achieve this, public participation through Sabka Saath Sabka Prayas is essential. “
On agri-tech, Sitharaman announced that digital public infrastructure for agriculture will be introduced which will be an independent and open-source effort. Similarly, it said that an Agriculture Accelerator Fund will be set up to encourage agriculture startups by young entrepreneurs in rural India.
Additionally, the new initiative Center of Excellence for Artificial Intelligence is also expected to help in research and development in terms of providing problem solutions in the field of agriculture, among other sectors.
agriculture technology in india
Agnishwar Jayaprakash, founder and CEO of Garuda Aerospace, believes that the UBI-approved farmer loans will help fund agriculture accelerators and encourage agri-tech startups by helping young entrepreneurs in rural areas by distributing various agrochemicals, thus It will be extended further.
According to him, the Garuda seed-dropping drones are already helping the government plant seeds and rejuvenate forests. He has sown 75,000 seeds so far. Jayaprakash believes that these drones will further support the Mishti scheme, which was discussed during the budget session.
He said: “Garuda drones will help government laboratories develop 5G-enabled applications. Last year’s budget helped farmers drone loans and subsidies and set a stage for India To become a Global Drone Hub by 2030.
According to Jayaprakash, “This change will focus on precision Made in India drones in agriculture sector with the help of youth. Agri-tech startups will be funded and with this farmers will be able to get subsidy and ensure that agri-tech is contributing to increasing food crop production and increasing yield which will directly increase India’s GDP will contribute to
Benefits for farmers, startups
Loopworm co-founder Ankit Alok Bagaria told News18 that the budget will help farmers, established businesses and startups in the agri-allied agriculture sector.
Talking about the Agriculture Accelerator Fund, Dr. Arvind Chinchur, CEO of Deshpande Startups, said: “A lot of our startups stand to benefit from this initiative, majority of which are agriculture startups… Inclusion of agriculture benefits in the Union Budget doing is aligned with our cluster model and agriculture initiatives.
Jaisimha Rao, Founder and CEO, Tartansense, said: “The budget plans for the first time to integrate contemporary technologies with farming and provide cost-effective solutions to the farmer through initiatives such as setting up of an Agriculture Accelerator Fund and research laboratories We as an ag-tech robotics start-up are thrilled with these steps from the government and applaud the government for taking such a bold step.”
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