Step Up Agri-Spending, Boost Farm Incomes
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What the editorial is about?
India’s Agriculture Orientation Index (AOI) and the need to step-up Agri spending.Context:
The overall budgetary allocation towards the agricultural sector has marginally increased by 4.4% in the Union Budget 2022-23. But India’s Agriculture Orientation Index (AOI) is one of the lowest in Asia and among several other middle-income and upper-income countries.Budgetary Allocation
- While the overall budgetary allocation towards the agricultural sector has marginally increased by 4.4% in the Union Budget 2022-23, the rate of increase is lower than the current inflation rate of 5.5%-6%.
- The Food and Agriculture Organization (FAO) of the United Nations (UN) report for 2001 to 2019 shows that, globally, India is among the top 10 countries in terms of government spending in agriculture, constituting a share of aro
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