Emphasis on increasing efficiency in agriculture needed, not incentives
Skip to main content
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Splash
  • Features
  • Videos
  • Long Read
  • Games
  • Epaper
  • More
    • COVID-19
    • Bangladesh
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Subscribe
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
The Business Standard
SUNDAY, MAY 29, 2022
SUNDAY, MAY 29, 2022
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Splash
  • Features
  • Videos
  • Long Read
  • Games
  • Epaper
  • More
    • COVID-19
    • Bangladesh
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Subscribe
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
Emphasis on increasing efficiency in agriculture needed, not incentives

Budget

Dr MA Sattar Mandal
03 June, 2021, 10:30 pm
Last modified: 03 June, 2021, 10:41 pm

Related News

  • Almeria Agro Model can help achieve sustainable agro-based development: Tipu Munshi 
  • Budget should focus more on inflation control than on growth
  • The imperative for redistributive fiscal policies for Bangladesh
  • Tax amnesty, relaxed remittance rules to bring back laundered money: Kamal
  • Govt should keep agri subsidy as is, reduce RMG’s

Emphasis on increasing efficiency in agriculture needed, not incentives

In order to attract big investment in this sector, it is necessary to give importance to fiscal policy, tax policy and give benefits to the investors

Dr MA Sattar Mandal
03 June, 2021, 10:30 pm
Last modified: 03 June, 2021, 10:41 pm
Emphasis on increasing efficiency in agriculture needed, not incentives

There is a large internal market for agricultural machinery. To benefit from it, local entrepreneurs have to come forward and focus on manufacturing small machinery as well as the large ones. But, it requires skilled or trained manpower. In the proposed budget for the fiscal year 2021-22, the government has called for increasing skills in vocational education or training related to agriculture.

It is a very positive initiative. A precise implementation procedure needs to be fixed here, because we are no longer following traditional agricultural practices. In many cases agriculture is being commercialised through the use of technology, but all agricultural technologies are imported. If we had trained manpower, we could have made these machines ourselves. This would enable us to export these technologies after meeting our local demands in future.

In order to attract big investment in this sector, it is necessary to give importance to fiscal policy, tax policy and give benefits to the investors. We have to change the mentality of just giving and receiving stimulus packages.

Increasing the production of different goods is not enough if the government wants to emphasise exporting agricultural products. To do that, first we have to decide what kind of products we will emphasise. There are many big players in the international rice market, so it does not look like we can benefit from it much. If we want to give importance to the export of other agricultural products, we have to focus on the domestic market first, because there are not many quality products here and the bad reputation of adulterated goods prevails.

We cannot progress much in export with the agricultural products in this situation. We have to produce safe and well-declared products first. We have to ensure the food safety for 17 crore people in the country. There is no alternative to developing good agricultural practices and ensuring the products' quality before entering the international market.

In addition to modern agriculture, the highest importance should be given to the protection of soil resources to ensure food security in the country. Every year more and more land in the agricultural sector is being shifted to the non-agricultural sector. Those who are shifting agricultural land to the non-agricultural sector should be discouraged. To do this, the authorities should give zone-based support to investors.

 

Dr MA Sattar Mandal is an agricultural economist and emeritus professor at Bangladesh Agricultural University

Economy / Top News

agriculture / Agricultural Machinery / efficiency / incentives / Budget / Budget FY 2021-22 / Bangladesh Budget FY 2021-22

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Finance projects export fall, remittance rise
    Finance projects export fall, remittance rise
  • Photo: TBS
    After 72-hour ultimatum, health directorate goes after illegal medical facilities 
  • Photo: Bloomberg
    Direct shipping now to Netherlands 

MOST VIEWED

  • MCCI for corporate tax reduction in line with neighbouring nations
    MCCI for corporate tax reduction in line with neighbouring nations
  • Pre-budget talks to begin 6 February
    Pre-budget talks to begin 6 February
  • Lower budget deficit mirrors slower public spending
    Lower budget deficit mirrors slower public spending
  • Ministries asked not to seek additional fund in revised budget 
    Ministries asked not to seek additional fund in revised budget 
  • Money whitening scope widened
    Money whitening scope widened
  • File Photo: Mumit M/TBS
    Workers’ protection neglected in budget

Related News

  • Almeria Agro Model can help achieve sustainable agro-based development: Tipu Munshi 
  • Budget should focus more on inflation control than on growth
  • The imperative for redistributive fiscal policies for Bangladesh
  • Tax amnesty, relaxed remittance rules to bring back laundered money: Kamal
  • Govt should keep agri subsidy as is, reduce RMG’s

Features

Women voluntarily joined the peaceful procession and protested by wearing clothing of their own choice. Photo: Trishia Nashtaran

The unhealthy obsession with what women wear

1h | Panorama
Illustration: Freepik

Bangladesh is on the verge of destigmatising menstruation

5h | Features
Photo: Collected

The death of Davos?

11h | Panorama
A male Baya Weaver beating wings. Photo: Enam Ul Haque

Baya Weavers weave: ‘Must be witnessed to be fully credited’

14h | Panorama

More Videos from TBS

Attorney General's suggestion to reduce case clutter

Attorney General's suggestion to reduce case clutter

5h | Videos
Russian forces take Liman city of Ukraine

Russian forces take Liman city of Ukraine

5h | Videos
JU food prices spike, students suffer

JU food prices spike, students suffer

5h | Videos
5% tax on poultry farmers earning above Tk10 lakh

5% tax on poultry farmers earning above Tk10 lakh

5h | Videos

Most Read

1
Bangladesh Bank GM, DGM’s designation changed
Banking

Bangladesh Bank GM, DGM’s designation changed

2
Corporates go cashless…tax cut on cards
NBR

Corporates go cashless…tax cut on cards

3
Photo: Courtesy
Panorama

Misfit Technologies: A Singaporean startup rooted firmly in Bangladesh

4
British International Investment (BII) CEO Nick O’Donohoe. Illustration: TBS
Economy

BII to invest $450m in Bangladesh in 5 years

5
Representational image. Picture: Pixabay
Economy

Govt raises regulatory duty to discourage imports of 130 products

6
Photo: Collected
Industry

Spanish recycled cotton producer opens new facility in Bangladesh

The Business Standard
Top
  • Home
  • Entertainment
  • Sports
  • About Us
  • Bangladesh
  • International
  • Privacy Policy
  • Comment Policy
  • Contact Us
  • Economy
  • Sitemap
  • RSS

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net

Copyright © 2022 THE BUSINESS STANDARD All rights reserved. Technical Partner: RSI Lab