A fillip for agriculture
Giving a boost to agriculture in the country, the Union Finance Minister Mr P Chidamabaram announced $4.9 billion (Rs 27,049 crore) for the Ministry of Agriculture, which is a 22 percent increase on the current allocation for the sector. The announcement has raised the hopes in the agribiotechnology sector, especially in the eastern states of the country, as emphasis will be on crop diversification and innovation to drive a green revolution. As part of its 'look east' policy, the government has proposed a $184 million (Rs1,000 crore) allocation for agriculture in the eastern states in 2013-14.
Mr Chidambaram, who presented the Union Budget of India for the second time as the finance minister, informed parliament members that the government will establish an Indian Institute of Agricultural Bio-technology at Ranchi in Jharkhand, an eastern state of India. The institution will serve as a center of excellence in agricultural biotechnology.
Schools proposed under the institution, which will be a deemed university, will lead research in genomics, bioinformatics, genetic engineering, nano biotechnology, diagnostics and prophylactis and basic and social sciences and commercialization. The Union Cabinet, which approved the setting up of the institute under the 12th Five Year Plan in August 2012, will be mandated to:
Another initiative will be the National Institute of Biotic Stress Management for addressing plant protection issues. It will be established at Raipur, Chhattisgarh, a state in central India.