Thursday, February 25, 2010

India Budget 2010: Agriculture Should Get More Importance

It is time for Indian Budget 2010 and Finance Minister Pranab Mukherjee will announce the budget after few hours in Indian Parliament. There is a lot of hope in the business community because the ruling Congress Party and its allies won a decisive victor in the General Elections of 2009 and they did not need the support of the left parties to form the government in the center. So, the business community is expecting a business friendly budget this time that would help the private sector to flourish. If Pranab Mukherjee does that then there is no problem. However, he must remember that food inflation is becoming the major challenge for Indian economy right now.
In 2006 and 2007, it was high fuel price in International market that was the major problem. Now, the price of food is getting out of control. Most people in India are still farmers and poor. So, the agricultural sector needs all the support from the government now so that production gets increased and this way, price can remain stable. India has a population of over and food security is of vital importance to the country.

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