Some incentives for crop diversification from rice and wheat to oilseeds would have been very appropriate
Ram Kaundinya, Director General, Federation of Seed Industry of India (FSII) mentioned that the budget did not spell out any specific initiative for the biotech sector, however, it had a few things for the agri sector—especially the thrust on millets and increasing the domestic production of oilseeds.
In the Economic Survey, the government underlined the need for enhanced research in agriculture as well as oilseeds in addition to the need for crop diversification. However, no announcements to boost research in breeding and biotechnology were made in the budget.
For instance, It would have been in the fitness of things if the government had said that modern science and biotech would be used to boost oilseeds production in the country.
Also, some incentives for crop diversification from rice and wheat to oilseeds would have been very appropriate. Our industry sought restoration of tax-deductibility of research expenditure but looks like it has not been approved.