New cooperation ministry will help India achieve $5 trillion mark by 2025: Dr Kagalkar

Bengaluru : BJP Karnataka’s Economic Cell State Convener Dr Samir Kagalkar said the formation of a new cooperation ministry will help achieve the $5 trillion mark by 2025 as it will give a major boost to the growth of the agriculture sector.

“The step of moving to the 5 trillion USD-mark by 2025 and to the 10 tTrillion USD economy status by 2030, will be impossible without the growth in the agricultural sector,” Kagalkar said in the state party unit’s blog.

Sadly, the agriculture sector was still put in chains by the Congress government when the entire country was a beneficiary of the reforms since 1991, he lamented.

Just about 17 percent of India’s GDP is contributed by agriculture, on which over 57 per cent of people depend, Kagalkar said.

“The inference is very clear, that unless there is a massive improvement in efficiency & productivity in the farm sector, the country as a whole cannot move to the prosperity level,” he said.

Only through economic prosperity can India root out poverty, bring in lots of social welfare measures for the needy, strengthen national security for a peaceful progress, Kagalkar said.

“In this regard, PM Narendra Modi has adopted the twin strategies of ease of doing business and ease of living,” he added.

To massively improve efficiency, the farm sector had to be liberalized, Kagalkar said.

In this regard, the Modi government came out with the truly historic agricultural reforms in 2019, liberalizing the sector and therefore enabling them to reap the benefits of reforms, Kagalkar said.

One of the key enablers to help the farm sector open up and benefit is the need for strong cooperation-based competition, he said.

To achieve this, the Modi government has announced massive subsidies, financial and other help to kick-start ten thousand FPOs that will act as the common platform based on cooperation to achieve their individual interests, he said.

The agricultural sector requires strong support from the government, to bring them at par with the other two sectors. And, it can be done by bringing in a new cooperation ministry, Kagalkar said.