Budget to maximise agricultural productivity - Minister Mahinda Yapa

by L.S. Ananda WEDAARACHCHI

Self sufficiency in many agricultural products and saving foreign exchange by maximising agricultural productivity is the prime objective of the budget 2011 proposals for Agriculture sector said Agriculture Minister Mahinda Yapa Abeywardena.

He said that President Mahinda Rajapaksa in his budget speech stated that research conducted by the Agriculture Department and the universities should focus on high-yielding quality crops the development of which will raise rural income and reduce import crops by US$500 million, he said.

The budget proposed a three year accelerated seed farm development initiative at a cost of Rs. 700 million. In addition, 19 seed farms and unutilized lands in agricultural research centres will be developed as a national priority. It is important that the agriculture department should work with the private sector seed farms to expand seed development programms. The Minister said that the Budget had proposed a five year tax-exemption for investments in seed farming.

The quality seed improves productivity, the Minister said.

The Minister pointed out that another remarkable budget proposal is the cultivation of cocoa in unused lands belonging to plantation companies. Financial assistance will be provided under the SME programme for industrialists interested in spice processing to promote value added products.