January 1, 2012 7:59 PM

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India needs to invest more in agriculture & allied sectors: RBI

Expressing concern at the high level of regional and inter and intra state disparities in agricultural production and productivity, the Reserve Bank of India (RBI) feels that India needs to invest more in agriculture and allied sectors. It says that the country needs higher production and productivity in cereals, pulses, oilseeds, vegetables, poultry, meat, fish and milk. RBI also says, to improve agriculture and productivity, there is need for finding ways to surmount the existing constraints and step up productivity using finance as a tool.Dr K C Chakrabarty, Deputy Governor, RBI, says that Green Revolution paved the way for food security in India. However, no major technological breakthrough has emerged since then, and with the need of higher productivity growing a second green revolution is inevitable. However, to cater to food security and food safety net, India needs bigger investments in agriculture.

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