The agriculture sector, in particular, faces multifaceted challenges requiring immediate attention.

Union Budget 2024 Agriculture and farmers: While India prepares for its upcoming Union Budget 2024, key stakeholders from the agriculture and FMCG sectors are urging the government to address pressing challenges exacerbated by drought, climate change, and inflation, the sectors that play pivotal roles in India's economy, with agriculture not only supporting millions of livelihoods but also contributing significantly to exports and GDP.

The agriculture sector, in particular, faces multifaceted challenges requiring immediate attention. Ashok Kumar, from Transform Rural India (TRI), emphasizes the critical need for a robust crop insurance mechanism. This is essential as climate change increasingly exposes farmers to unpredictable weather patterns, threatening crop yields and livelihoods. 

Moreover, ensuring safe food production practices and promoting chemical-free products are vital for both consumer health and export competitiveness. Investment in renewable energy solutions like photovoltaic systems could further bolster agricultural sustainability and productivity.

Rajesh Aggarwal of Insecticides (India) underscores the importance of rural infrastructure investments. Strengthening road networks, irrigation facilities, and storage infrastructure is crucial for minimizing post-harvest losses and enhancing market access for farmers. Such improvements not only boost productivity but also stimulate rural economies by generating employment and integrating advanced farming technologies.

The call for climate-smart agriculture funding resonates across industry experts who advocate for innovations such as solar-powered irrigation and rainwater harvesting. These technologies not only mitigate environmental impact but also enhance agricultural resilience in the face of climate variability.

In parallel, the FMCG sector, heavily reliant on agriculture, anticipates policies that stimulate rural consumption and ensure market stability. Manish Aggarwal of Bikano, Bikanervala Foods, stresses the need for schemes protecting oilseed farmers and fostering a conducive environment for the oleochemical industry.

Amidst these demands, the government's role in facilitating agricultural exports remains crucial. Despite India's significant agricultural output, challenges such as meeting international standards like minimum residue levels (MRL) persist. Anand Ramanathan of Deloitte India underscores the necessity for efficient policies and robust government support to capitalize on the global agriculture exports market.

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