'Sustained farm growth needed to fight poverty'

By Our Special Correspondent

CHANDIGARH, MARCH 27. Reduction in subsidy on fertilizers and increase in urea prices by 15 per cent in the Union Budget will hurt the interests of farmers community and affect the country's agricultural production, according to the Haryana Finance Minister, Mr. Sampat Singh.

He was presiding over the inaugural session of a seminar on ``Development of Haryana: Opportunities in the Union Budget 2000- 2001'' organised by the Faculty of Economics and Development Planning of the Haryana Institute of Public Administration (HIPA) here.

He said that a sustained and broad-based growth of agriculture was essential for alleviating poverty, generating income and employment, ensuring food security and sustaining domestic market for industry and services. He regretted that there was a lack of interaction between policy makers and the public. He favoured a debate at the grassroot level before framing policies. Keeping this in view, the Haryana budget was infrastructure oriented with special stress on power reforms and improvement of roads etc.

About 64.5 per cent of the budget had been earmarked for infrastructure development. ``It should be our joint endeavour to supplement the efforts towards restoration of fiscal balances,'' he said. The Haryana budget contained some policy initiatives involving fiscal restructuring measures intended to address issues in revenue mobilisation, expenditure management and infrastructure. A major power restructuring programme with World Bank assistance had been undertaken to provide assured and quality power to all its consumers. However, power supply to agriculture sector would continue to be subsidised.

In his keynote address, the Chief Secretary, Mr. Ram S. Varma, said that Haryana had covered great strides and there had been tremendous transformation in the economy of the State since its inception.

The list of panelists included Dr. Pranab Sen, a well-known economist, Dr. Prem Vashistha, Director, Agro-Economic Research Centre, Delhi School of Economics, Mr. T. C .A. Srinivasa Raghavan, a columnist in the business world, Ms. Mythil Bhusnurmath, senior editor with Economic Times, Prof. J. George, Mr. G. Prasanna Kumar, Director, HIPA and a number of senior officers of the Government.

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Section  : Regional
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