Page 10 - Agriculture Economy

PM inaugurates world's largest grain storage plan in cooperative sector

The power of cooperation has a huge role in strengthening the foundation of agriculture and farming and this has led to a separate Ministry for Cooperation

Arjun Munda calls for suggestions amid impasse between Centre, farmers

The Centre however expressed readiness for the fifth round of talks with the farmers while urging them to find a solution through 'dialogue'

Tractor sales drop by 4% in FY24, signalling rural economic trouble

Maharashtra recorded a 33% drop, Karnataka 21%, and Telangana 36% in tractor sales. This decline can be attributed to erratic weather conditions and insufficient rainfall

No impact of MSP turmoil on wheat buying: Food secy Sanjeev Chopra

The wheat procurement season usually starts from April 1 in most parts of the country but in the coming season the government has given freedom to the states to advance the purchase dates

Farmers' protest highlights: Noida farmers call off Feb 23 Delhi march

Farmers' protest march LIVE updates: Catch all the latest updates on the farmers' protest here

Govt allows onion exports to Bangladesh, Mauritius, Bahrain and Bhutan

Consumer Affairs Secretary said the decision has been taken following a recommendation from the external affairs ministry

Agri credit crosses Rs 20 trn till Jan in FY24, sharp jump from 2013-14

The Modi government has enhanced the institutional credit into the agriculture sector sharply in the last 10 years, with banks disbursing Rs 20.39 lakh crores during the April-January period of this fiscal as against Rs 7.3 lakh crore in the entire 2013-14, according to a senior official. In the Budget for 2023-24 fiscal, the government set an agriculture credit target at Rs 20 lakh crore. Banks have already breached the target and the number could cross Rs 22 lakh crore this fiscal. To ensure the availability of agriculture credit at a reduced interest rate of 7 per cent per annum to the farmers, the Union Agriculture Ministry implements an interest subvention scheme for short-term crop loans up to Rs 3 lakh. The scheme provides interest subvention of 2 per cent per annum to banks on the use of their resources. Moreover, an additional 3 per cent incentive is given to the farmers for prompt repayment of the loan, thereby reducing the effective rate of interest to 4 per ...

Govt should boost Green Revolution 2.0 for less water-intensive crops: GTRI

India needs to usher in Green Revolution 2.0 with a view to promote farming of less water-intensive crops such as pulses and oil seeds and discourage free power for the agri sector, economic think tank GTRI said on Thursday. There is a need to "promote less water-intensive crops like pulses, oil seeds, and vegetables that can significantly reduce water demand and the government can guarantee MSP (minimum support price) on these crops," the Global Trade Research Initiative (GTRI) report said. It said that awareness among farmers should be increased about adopting water-saving technologies such as drip irrigation, laser land levelling, training on water-efficient techniques and precision agriculture to improve water use efficiency. It also suggested ending free electricity for agriculture and introducing water pricing mechanisms that can discourage overuse and encourage conservation, besides educating farmers about the long-term consequences of unsustainable practices. These ...

Cabinet clears hike in sugarcane FRP by Rs 25 to Rs 340 per quintal

The government on Wednesday announced hiking the sugarcane FRP by Rs 25 to Rs 340 per quintal for the 2024-25 season starting October. Fair and Remunerative Price (FRP) is the minimum price that mills have to pay to sugarcane growers. The decision to increase the FRP of sugarcane was taken at the meeting of the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi. The Rs 25 per quintal hike is the highest by the Modi government and the move comes ahead of the general elections. Sugarcane is grown mainly in Maharashtra, Uttar Pradesh, and Karnataka. "Keeping in view interest of sugarcane farmers (GannaKisan), the Cabinet Committee on Economic Affairs has approved Fair and Remunerative Price (FRP) of sugarcane for sugar season 2024-25 (October - September) at Rs 340 per quintal for a basic recovery rate of 10.25 per cent," I&B Minister Anurag Thakur said at a media briefing. The FRP has been determined on the basis of recommendations of the ...

Onion prices fall by Rs 150 per quintal at Lasalgaon mandi in Nashik

Onion prices on Tuesday fell by Rs 150 per quintal at Lasalgaon mandi in Nashik district of Maharashtra after the government announcement that the ban on exports of the bulb will continue till March 31. Driven by reports of the lifting of the export ban on the commodity, the modal wholesale onion prices shot up 40.62 per cent to Rs 1,800 per quintal on February 19 in Lasalgaon, the country's largest wholesale onion market, from Rs 1,280 per quintal on February 17. However, on Tuesday the prices eased by Rs 150 per quintal to an average price of Rs 1,650 per quintal with 8,500 quintal onions auctioned. "The prices increased a bit last week, however, with no government resolution (GR) or announcement about the lifting of the ban on onion exports, these have stabilised," Lasalgaon APMC chairman Balasaheb Kshirsagar told PTI. Earlier in the day, Consumer Affairs Secretary Rohit Kumar Singh told PTI that the "ban on onion exports has not been lifted. It is in force and there is no chang

Farmers rejected offer as they understood govt's mischief: Congress

The Congress on Tuesday claimed that protesting farmers have rejected another "false offer" as they have understood the government's "mischief" and asserted it is committed to providing legal guarantee of the MSP and take other necessary steps to provide justice to the tillers. Congress leader Rahul Gandhi said the legal guarantee for MSP will not make the Indian farmers a burden on the budget but ensure they become the drivers of GDP growth. He claimed that "lies" are being spread that the MSP guarantee is not feasible under the government's budget. In a post in Hindi on X, Gandhi claimed that ever since the Congress resolved to provide legal guarantee for the Minimum Support Price (MSP), "Modi's propaganda machinery and media friendly to him have spread a barrage of lies on MSP". "Lie -- It is not feasible to provide legal guarantee for MSP in the budget of the government of India. Fact -- According to CRISIL, giving MSP to farmers in 2022-23 would have resulted in an additional

Farmers reject Centre's 5-year MSP proposal for pulses, maize, cotton

Farmers leaders on Monday rejected the Centre's proposal of buying pulses, maize and cotton at MSP by government agencies for five years, saying it was not in farmers' interest. A panel of three Union ministers -- Piyush Goyal, Arjun Munda and Nityanand Rai -- on Sunday gave the proposal to the farmers during the fourth round of talks in Chandigarh. On Monday, farmer leader Jagjit Singh Dallewal said, "After holding discussion (on the Centre's proposal) in our two forums, it has been decided that the Centre's proposal is not in the interest of farmers and we reject this proposal." After the fourth round of talks with the farmers on Sunday night, Union minister Piyush Goyal said, "Cooperative societies like the National Cooperative Consumers Federation and National Agricultural Cooperative Marketing Federation of India will enter into a contract with farmers who grow 'tur dal', 'urad dal', 'masoor dal' or maize for buying their crop at MSP for next five years." "There will be no lim

Rs 10 trn projects in UP: Urgent need to make farmers market-ready, says PM

His remarks are particularly significant given the ongoing protests by Punjab farmers, who are demanding a law guaranteeing the minimum support price (MSP) mechanism

Farmers' protest: 'Delhi Chalo' leaders to discuss govt offer, SKM rejects

Farmer leaders taking part in the 'Delhi Chalo' agitation on Monday said they will discuss the government proposal on buying pulses, maize and cotton at MSP but the Samyukta Kisan Morcha, which spearheaded the 2020-21 stir, rejected the offer. In the fourth round of talks with farmer leaders, a panel of three Union ministers on Sunday proposed buying of pulses, maize and cotton crops by government agencies at minimum support prices (MSP) for five years after entering into an agreement with farmers. Earlier on Monday, farmer leader Sarwan Singh Pandher said farmers will hold a discussion on the Centre's proposal but they will not budge from their demand for a law guaranteeing MSP. However, the SKM rejected the government proposal, saying it seeks to "divert and dilute" the farmers' demand for MSP and they will accept nothing less than the 'C-2 plus 50 per cent' formula for MSP as recommended in the Swaminathan Commission report. Besides a legal guarantee of MSP, farmers are also ...

Govt assisting, encouraging farmers to take agriculture on new path: PM

Prime Minister Narendra Modi on Monday reiterated his government's commitment to support farmers in exploring new avenues in agriculture. Addressing an event in Lucknow in Uttar Pradesh, the prime minister emphasized the importance of working towards a common goal of having Indian food products on dining tables across the globe. His remarks came amid a protest by a section of farmers over their various demands such as a legal guarantee for minimum support price for crops. "We are assisting and encouraging farmers to take our country's agriculture on a new path," he said. He emphasised the focus on natural farming and millets. "This is the right time for investment in superfoods like millets," he said. He cited the emergence of large-scale natural farming along the banks of the Ganges in Uttar Pradesh, which not only benefits farmers but also helps preserve the purity of sacred rivers. The prime minister appealed to food processing entrepreneurs to prioritise the mantra of "zero .

Farmers will discuss Centre's 5-year MSP proposal, says Sarwan Pandher

The Centre's proposal of buying pulses, maize and cotton by government agencies at MSP will be discussed by farmers, farmer leader Sarwan Singh Pandher said on Monday but asserted that they will not back out of their demand for a legal guarantee for minimum support price for crops. His remarks came after a meeting between farmer leaders and a panel of three Union ministers on Sunday and amid thousands of protesting farmers camping at the Punjab-Haryana border as part of their 'Delhi Chalo' march. Talking to reporters at the Shambhu border point, Pandher said farmers will hold a discussion on the proposal given by the Centre. Farmers have not backed out of their demand for a law guaranteeing minimum support price (MSP) and never will, he said while replying to a question. Pandher said farmer leaders are going to the Khanauri border point where a farmer died. On Sunday, a 72-year-old farmer, who was part of the protest there, died of cardiac arrest. Earlier, a 63-year-old farmer had

Statsguru: Indian farmer protests mirror similar scenes in France, Germany

Farm protests in Europe include opposition to new laws that seek to limit emissions from agriculture

Fourth round of talks: 'Won't settle for anything less,' say farmers

Urge govt to bring Ordinance on legal guarantee for MSP

India needs new cotton seed varieties for better productivity: House panel

The panel asked the textiles ministry to do a comprehensive study on how to increase cotton production

Farmers' agitation to cause Rs 500 cr loss daily to northern states: Phdcci

Industry body PHDCCI on Friday said it apprehends "severe hit" to trade and industry and loss of employment in the northern states from a lingering farmers' agitation which would result in economic losses of over Rs 500 crore daily. "A lingering agitation will cause Rs 500 crores economic loss daily and will have an impact on Q4 Gross State Domestic Product (GSDP) of northern states majorly Punjab, Haryana and Delhi," said Sanjeev Agrawal, President, PHD Chamber of Commerce and Industry. The industry body looks forward to an early resolution of the issues from both the government and the farmers, with a common consensus for the welfare of all in the country, he added. Agrawal stated that the farmers' agitation is severely impacting the businesses of the Ministry of Micro, Small and Medium Enterprises (MSMEs) in Punjab, Haryana, Delhi and parts of Uttar Pradesh and Rajasthan as raw materials of such units are procured largely from other states to execute production processes and to