The ongoing Global financial crisis would marginally affect Indian agriculture sector and it would remain stable at around 4% growth rate. The views were expressed by Union minister for consumer affairs, food and public distribution, Sharad Pawar.

Mr. Pawar was speaking in the sidelines of a conference organized by Forward Markets Commission in Mumbai.

He said the government would do its best to achieve desired growth target of the agriculture sector. World is facing tough financial conditions and government is taking various measures to insulate Indian economy from its impact. He expressed satisfaction on record production of wheat despite shortage of fertilizer and delayed monsoon.

The minister expressed displeasure for not providing easy and cheap warehousing and institutional credit facilities to farmers in the villages. He said that the government would slash import duty on edible oil only if the prices dipped below minimum support price of the crop.      Chairman of Forward Markets Commission, Mr. B. C. Khatua asked the government to allow banks and financial institutions to participate in futures trading. He asked for early clearance of Forward Contracts (Regulation) Amendment Bill and Warehousing (Development & Regulation) Act, 2007, to make system more efficient.