Asserting that the government will never compromise on agriculture subsidies, Finance Minister Jaswant Singh said he is not in favour of "industrial agriculture" as it could put at stake the food security of 100 crore (1 billion) people in the country.
Singh told a book release function on Friday night that during his meeting with European Commissioner for External Relations Chris Patten he had spoken strongly against doing away with agriculture subsidies.
"I told him (Patten) that I cannot recommend that India ever give up supporting subsidies relating to the agriculture sector. Nobody on earth (can)", he said.
Singh was releasing a book on 'Income Risk Management in Agriculture'.
In India agriculture is not merely an economic activity but a lifestyle, he said adding the sector had made major strides in the recent years that has catapulted India into a 'net agri exporting country'.
He said there was also a need to accelerate wasteland development and improving irrigation in the country.
Singh said it was unfortunate that the finance ministry did not have a senior post for an official who could advise on agriculture related matters.
The finance minister also said initiation of an "industrial fishing" would harm the interest of small fishermen in the country.
