“With the current level of investment, 4 per cent growth in farm sector cannot be achieved. It is very clear that we have to increase investment both from private and public sectors,” agricultural economist Ashok Gulati told reporters after the meeting .

The average annual farm sector growth is likely to be 3-3.5 per cent in 11th Plan as against the targeted 4 per cent.

Making a case for rationalising of subsidies, he said that the reduction would help the sector in attracting more funds. Currently, the public investment in agriculture is not more than Rs 30,000 crore annually, as compared to the subsidies of around Rs 2 lakh crore given on inputs like fertilisers, power, irrigation and credit, he added. “The growth in the sector can be achieved when the investments are at 80 per cent and subsidies at 20 per cent,” Gulati, who heads the Commission for Agricultural Costs and Prices (CACP), said.

Representative from farmers’ body CIFA, agricultural economist from IIM-Bangalore Gopal Naik, Ramesh Chand from the National Centre for Agricultural Economics and Policy (NCAP), an expert from the National cooperative Development Corporation (NCDC) were among 15 others present at the meeting.