The farming community on Thursday hailed the Union Budget which carries a number of sops for the agriculture sector, with a prominent association saying the United Progressive Alliance government's proposals amounted to saving the sector from sinking.

Pointing out that agriculture was the real economy, Indian Farmers and Industrial Alliance co-chairman P Chengal Reddy said the UPA government had saved this key sector from "sinking" by offering "live-saving" treatment.

Elaborating on his argument, he said offering of credit to farmers and heavy investment in agriculture sector would help salvage it from bad state.

Reddy particularly hailed Finance Minister P Chidambaram's assertion on improving the delivery system by holding "somebody responsible" to ensure the benefits reach the farming class across the country.

"Generally, the delivery system is affected by the inefficiency of state governments although the Centre may be willing to give money," he said.

"But with the finance minister saying that he will be holding somebody responsible, there is going to be accountability for the delivery system," Reddy said.

The farming association leader advocated that private sector be encouraged to play more role in the agriculture sector.