Agriculture Ministry to benefit from $500m Stimulus Package in 2020/21 Budget
Published on
October 6, 2020
In delivering the 2020/21 National Budget earlier today, Finance Minister Colm Imbert indicated that the Ministry of Agriculture, Land and Fisheries will benefit from a $500m Stimulus Package to be established and funded in 2021.
This package, the Minister said will be in addition to the normal budgetary allocation for the Agricultural sector and it will represent a 70% increase over last year’s allocation.
“The funding will support the rapid expansion in production and marketing of selected high-demand commodities with short production cycles such as vegetables, legumes, roots and tubers, grains, fruits and small live stock; adequate quality seeds will be secured; the use of alternative feedstock will be encouraged; and land issues will be addressed with a view to accelerating land tenure and access to idle state lands”, the Finance Minister said.
Some other proposed Measures for the Agriculture Sector includes:
- Strengthening the linkages for the food value and distribution chains by making locally produced foods more attractive within the country.
- A more technologically-advanced agricultural system to increase the availability of domestic food supply;
- A Centre of Excellence in Agriculture and Bio-Technology is being established using the existing human resources and infrastructure at the Ministry of Agriculture, Land and Fisheries, the University of Trinidad and Tobago, CARIRI and other agencies of the State;
- Education and Training on Sustainable Agriculture Practices;
- Investing in precision agriculture;
- Promoting the use of home gardens;
- Incorporating indoor vertical farming methods to increase crop yields;
- Creating community-supported agriculture programmes;
- Increasing education campaigns promoting the benefits of locally produced alternatives to cater to healthy lifestyles; and
- Developing marine aquaculture.
- Investing in productivity-oriented research and technology and strengthen the linkages between industry and agriculture to build sustainable food systems
In the 2020/21 Budget Allocation the Ministry of Agriculture, Land and Fisheries received $1.198billion.
To view the full Budget Statement, please click on the following link:
Contact: Corporate Communications -Ministry of Agriculture, Land and Fisheries
Email: comms.malf@gov.tt| Website: www.agriculture.gov.tt
