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15TH FINANCE COMMISSION’S HLEG ON AGRICULTURAL EXPORTS SUBMITS REPORT

15TH FINANCE COMMISSION’S HLEG ON AGRICULTURAL EXPORTS SUBMITS REPORT

Context

High Level Group (HLEG) on Agricultural Exports has submitted its report to the 15th Commission

Details

Recently, the High Level Group (HLEG) on Agricultural Exports set up by the Fifteenth Finance Commission to recommend measurable performance incentives for States to encourage agricultural exports and to promote crops to enable high import substitution, has submitted its report to the Commission.

High Level Group (HLEG) Recommendations

  • Focus on 22 crop value chains – demand driven approach.
  • Solve Value Chain Clusters (VCC) holistically with focus on value   addition.
  • Create a State led export plan with participation from stakeholders.
  • Private Sector should play an anchor role.
  • Centre should be an enabler.
  • Robust institutional mechanism to fund and support implementation.

The HLEG feels that-

  • India’s agricultural export has the potential to grow from USD 40 billion to USD 70 billion in a few years.
  • Estimated investment in agricultural export could be in the tune to USD  8-10 billion across inputs, infrastructure, processing and demand enablers.
  • Additional exports are likely to create an estimated 7-10 million jobs.
  • It will lead to higher farm productivity and farmer income.

About 15th Finance Commission

  • It is a constitutional body formed by the President of India to give suggestions on centre-state financial relations.
  • It was constituted on 27 November 2017 against the backdrop of the abolition of the Planning Commission and the introduction of the goods and services tax (GST), which has fundamentally redefined federal fiscal relations.

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