The Government of India announced its new agriculture policy on July 28, 2004. This policy has been formulated taking into consideration the provisions of the World Trade Orgnisation.
The main objective of the policy is to develop such agricultural economy which could provide food and nutrition to its 1000 million populations, adequate raw material to its growing industrial base and sufficient surplus for export. Here promises have been made for green revolution, white revolution and blue revolution. Thus this agriculture policy may be described ‘rainbow revolution’.
The salient features of policy include achieving growth rate of four percent in agriculture; promoting such development which could make judicious utilisation of our resource and protect our land, water and biodiversity at which could be stimulated through the forces .demands in the local, national and international markets; providing price protection to the farm improving quality of agricultural products; impending land reforms; facilitating input facile like agricultural credit, crop insurance, bio-tech etc. and making room for more capital invent in agriculture.