Union Finance Minister Arun Jaitley on Tuesday said the government was fast moving towards gradual blending of subsidies with public investment, especially in the agriculture sector, for sustainable growth.
Speaking at the launch of a book, ‘Supporting Indian Farms the Smart Way’, he said with the formalisation of economy, the “government would have adequate resources to spend on different sectors, including the agriculture sector.”
“There is lot of formalisation of economy taking place in several other sectors... We can see visible results, and it is leading to additional resources in the hands of the government. I don’t think this process will now be reversed,” he said.
Important areas which required investment include physical infrastructure, social sector and farm sector, he said.
“I do see a point in blending subsidy support with the investment because to have a model which sustains indefinitely only on subsidy will not be a sustainable model. Investments will make farm sector self-sufficient. With much lesser subsidies, a self-sufficient farmer may be able to serve the cause of agriculture much better.”
