India Can Surpass 10% Growth Via Tech Adoption: Sitharaman
By ThePip Desk
Finance Minister Nirmala Sitharaman states that tech adoption, innovation, and startup growth can propel India’s economic growth beyond 10%.
Union Finance Minister Nirmala Sitharaman stated that India could achieve economic growth of more than 10 per cent through greater adoption of technology and innovation across sectors. She noted that accelerating this growth would help advance the country’s journey towards Atmanirbhar Bharat and Viksit Bharat, while stressing that achieving this would require \u201ca lot more effort\u201d from all sides.
Driving Factors for Economic Expansion
Union Finance Minister Nirmala Sitharaman specifically pointed to startup growth since 2015, saying they could make a significant contribution to the economy in the coming years. She also emphasised the need to overcome cynicism and \u201cnudge\u201d people to think positively and recognise the developments taking place on the ground.
Technological Interventions in Agriculture
Technology has created a \u201cspectacular difference\u201d in connecting producers with markets and improving productivity across the agricultural sector. Union Finance Minister Nirmala Sitharaman detailed several specific farming applications:
Agricultural technology implementations include:
Speeding up harvesting and preparing land for the next crop.
Utilizing drones and aerial geospatial instruments for precision mapping of land parcels that were previously mapped manually.
Deploying point-of-sale machines during pilot testing in fertiliser distribution to prevent pilferage.
Fertiliser Distribution and Soil Management
The point-of-sale system records details of the farmer, land, and crop being cultivated, and provides farmers with information on the quantity of fertiliser that may be sufficient based on soil, irrigation, and crop conditions. Union Finance Minister Nirmala Sitharaman noted that farmers would continue to have a choice when purchasing fertilisers while receiving guidance on sufficient quantities.
She warned that excessive use of pesticides and fertilisers was contaminating soil and water, adding that \u201cSo the sooner these technologies reach these sectors, the better it is for India. You will be optimally producing things and therefore adding to the growth\u201d.