Page 2 - Agriculture Products

No income tax on agricultural produce for next 2 fiscal years: Bengal FM

The West Bengal government has decided that farmers will not have to pay income tax on any agricultural product for the next two fiscal years, Finance Minister Chandrima Bhattacharya said Monday. The state government has also announced the withdrawal of two types of cess on raw tea leaves for the period. Presenting the Finance Bill in the assembly, Bhattacharya said the current exemption period for agricultural income tax ends on March 31. She also said that the state government has taken up a detailed and convenient scheme to resolve issues related to arrears of tax to facilitate sales tax payers. In her budget speech on February 15, Bhattacharya had said without imposing new taxes, income tax exemption on agricultural produce will be maintained. The West Bengal government has also decided to fill thousands of vacancies in several departments, including minorities and agriculture, official sources said.

Agritech firm DeHaat's FY23 revenue set to rise by over 80% to Rs 2,300 cr

Agritech startup DeHaat's revenue is likely to grow by over 80 per cent this fiscal to around Rs 2,300 crore on better sales of farm inputs to farmers and trading of agriculture produces in domestic and overseas markets, its CEO Shashank Kumar said. DeHaat will also hit positive EBIDTA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) by the end of this calendar year, he highlighted. DeHaat is a technology-based business-to-farmers platform that offers a complete range of agricultural services to farmers. These include distribution of high-quality agricultural inputs, customised farm advisory, access to financial services and market linkages for selling their produce. DeHaat has so far raised USD 221 million from investors like Sofina, Lightrock, Prosus Ventures, Sequoia Capital India, Omnivore partners, and FMO. "Our turnover was around Rs 1,250 crore in the last fiscal. We are seeing significant growth in revenue this financial year and will touch around Rs 2,300

2022: When high prices ate into rural earnings more than in urban areas

War, weather and excess liquidity impacted Bharat, though year-end saw things looking up a bit

Potato and tomato output projected to be down by 4-5% in 2021-22

The production of overall vegetables is projected to be higher at 204.84 million tonnes as against 200.45 million tonnes in the said period

Farm sector clocks 4.5% growth in Q1 on robust rabi harvest, price rise

Growth at current prices which touched a high of 17.4 per cent mainly due to sharp spikes in almost all farm commodities in the first quarter of the 2022-23 financial year.

Cereal prices rise due to low stocks, high demand amid patchy rains

In case of paddy, patchy monsoon since the start of June over the main paddy growing regions of UP, Bihar, Jharkhand, West Bengal and Odisha has pulled down acreage

Regulator allows insurance firms 'use & file' procedure for agri products

Companies can introduce a product in the market and then file with the Insurance Regulatory and Development Authority of India (Irdai) for approval

Focus on quality of agricultural produce to get good price, says Tomar

Ensuring the better quality of the agricultural products has always been the main concern of the prime minister, the agriculture minister said

Centre hikes copra MSP by Rs 255/quintal, ball copra by Rs 400

The government on Wednesday decided to increase the minimum support price (MSP) of milling copra by Rs 255 per quintal and ball copra by Rs 400 per quintal.

Farmers Fresh Zone raises Rs 6 cr in pre-series-A funding round led by IAN

Agri-tech start-up Farmers Fresh Zone on Thursday said it has raised Rs 6 crore in pre-series A round through existing investors led by Indian Angel Network (IAN).

India can be top producer of all agri commodities: Narendra Singh Tomar

Agriculture Minister Narendra Singh Tomar on Thursday said India has the potential to become number one in production of all commodities with the strength of its farmers and farm scientists. The minister was speaking after launching the National Food and Nutrition Campaign for farmers. The event was organised by the Indian Council of Agricultural Research (ICAR), an official statement said. Tomar said the country has made great achievements in the field of foodgrains. "Our country is number one or two in the world in agriculture and allied products. Our farmers and scientists have so much power that if we compete in the world, we can be number one in almost all commodities," he said. The minister noted that the country has made tremendous progress in terms of production productivity. However, he said in the 75th year of independence, "we are standing at such a stage, where we have to introspect as well as consider the challenges and their solutions." Tomar said the ICAR has been

Commerce ministry extends time limit for filing claims under TMA scheme

The commerce ministry on Tuesday extended the time limit for filing claims under the Transport Marketing Assistance (TMA) scheme for specified agricultural products.

KPCC wants Karnataka CM to procure horticulture farmers' produce directly

Karnataka Congress president D K Shivakumar said the government should procure the produce of horticulture farmers directly as the lockdown was forcing them to sell at a pittance

Jammu & Kashmir signs MoU with Go Air for transportation of agri produce

The memorandum of understanding has been signed for the transportation of perishable horticulture and agricultural produce to various destinations across the country

AIMIM MP Imtiaz Jaleel seeks slash in fertiliser prices; writes to Tomar

Lok Sabha member and AIMIM leader Imtiaz Jaleel on Wednesday wrote a letter to Union Agriculture Minister Narendra Singh Tomar, demanding that the prices of fertilisers be slashed. On Tuesday, NCP chief Sharad Pawar had also written a letter to the Centre, requesting it to reconsider the price hike of fertilisers. In his letter, Jaleel, who represents Aurangabad Lok Sabha constituency, said that farmers in Aurangabad district have to deal with the vagaries of nature, like drought, excess rains or unseasonal showers. In addition to that that, the district has been facing a serious pandemic situation. The farmers also have to face a rise in fertilizer prices. This hike has come at a time when the agriculture yield has come down, he said. Therefore, the government should curtail the prices of fertilizers and make the supply smooth by making it available in large quantities, the parliamentarian said in the letter.

Statsguru: Commodity supercycle may hurt India amid Covid-19 pandemic

After a year of limited activity, several economies are expecting a faster-than-usual bounce back to normal. This has led to an increase in commodity prices across the board

Double efforts for branding, marketing of agri products: Manoj Sinha

Jammu and Kashmir Lt Governor Manoj Sinha called upon stakeholders to double the efforts for the branding and marketing of local agriculture products

Panel considers a Gujarat-like model of staggered payments to cane growers

Farm leaders object to Gujarat-like model, say can't take pay in tranches

Focused approach

Targeting specific products will help the agri sector

Govt improved rural, coastal connectivity to bolster farmer markets: Modi

Modi on Thursday said that his government has made several efforts to improve rural and coastal connectivity