Govt to ensure 4% farm growth: Chidambaram

A day after the Central Statistical Organisation projecting a sluggish agricultural growth this fiscal, Finance Minister P Chidambaram said on Friday the government will take all steps to ensure a four per cent expansion in the farm sector for next 10-20 years.

"First charge on our resources is for agriculture, so that it grows at 4 per cent or more for next 10-20 years" Chidambaram said at a National Bank for Agricultural and Rural Development function in New Delhi.

"Everything can wait except agriculture," he said, adding that the government was committed to take all measures for growth of the farm sector.

Chidambaram said the government was ready to set up a technology fund for the farm sector.

Whatever may be the external factor, he said, through human intervention and technology it was possible to achieve and sustain a 4 per cent growth in agriculture.

Referring to CSO's advance estimates of GDP for the current year, he said "we are confident that agricultural growth would be higher than the advance estimates".

CSO has estimated that agriculture output would grow at 2.6 per cent this year, against 3.8 per cent last year.

The finance minister said, "Agriculture ministry has reported day that maize and soyabean production would be all time high this year, that is not reflected in advance estimates."

"I am confident that final growth rate of agriculture would be better," he said.