Agriculture Economy

A total of 269 districts in 27 states have started distributing fortified rice under the Targeted Public Distribution System, achieving a 100 per cent target set for second phase by March 2023

Union Food Secretary Sanjeev Chopra on Thursday said the government is hopeful of a record wheat production of 112.18 million tonne in 2022-23 crop year ending June despite inclement weather conditions in some parts of the country affecting grains quality. The government has projected a record wheat production at 112.18 million tonne in the 2022-23 crop year (July-June). Wheat production had declined marginally to 107.74 million tonne in the previous year due to heat wave in some states. "Because of the inclement weather in the last two weeks, there has been some damage to the wheat crop. But the production loss will be minimal. We are hopeful of achieving the overall production target of 112.2 million tonne," Chopra said. The secretary said quality norms for wheat procurement has been relaxed in Madhya Pradesh and the Centre will soon take a call on relaxing quality norms for wheat procurement in Punjab and Haryana. The procurement by state-owned FCI and state agencies have alread

The new Foreign Trade Policy (FTP) 2023, announced recently, will help in promoting exports of sectors from e-commerce, batteries for electric vehicles and farm equipment, experts said on Tuesday. India on March 31 came out with the new policy which aimed at pushing rupee trade, increasing outward shipments to USD 2 trillion by 2030, and promoting e-commerce exports, amid global uncertainties. Rumki Majumdar, Economist at Deloitte India, said that the policy emphasises on the manufacturing and export sectors with a long term view. Sectors such as batteries for EVs, green hydrogen, and garment, amongst others will benefit from the policy, she said, adding that with over 80 per cent of trade being done in the USD, encouraging trade in Indian rupee will be a relief. "It will also add to its resilience to external shocks and improve negotiating capabilities in international trade," Majumdar said. Shashi Mathews, Partner at IndusLaw, said that through the policy, the government's focus

The government on Tuesday said it is too early to predict any damage to the wheat crop due to heat stress in February. In a written reply to Lok Sabha, Union Agriculture Minister Narendra Singh Tomar said, "In the month of February 2023, though the maximum temperature was hovering around 32-33C in most of the northern plains, it did not impact the wheat grain growth since the crop canopy temperature can be easily modulated by 2-3C less than the air temperature by irrigation." During March 16-22 period, he said scattered to fairly widespread light /moderate rainfall has been received over Punjab, Haryana, Delhi, Uttar Pradesh and Rajasthan due to which the maximum temperatures were near normal or below normal over these parts." "In the current scenario, it is too early to predict any damage to the wheat crop due to heat stress," Tomar said. Wheat is the main rabi crop, harvesting of which has started in some parts of the country. The government has projected a record wheat output o

The government on Monday said it has constituted a committee to monitor the stock of tur dal held by importers, mills, stockists and traders in order to check hoarding and speculation. The government is also closely watching the stock position of other pulses in the domestic market to take necessary preemptive measures in the event of unwarranted price rise in the coming months, an official statement said. The decision has been taken in view of the reports of market players not releasing stocks despite regular arrival of imports in good quantities, it added. The committee, under chairmanship of Additional Secretary Nidhi Khare, will monitor tur stocks in close coordination with the state governments. Earlier on August 12 last year, the government had issued an advisory to the state governments and Union Territories to enforce stock disclosure in respect of tur dal under the Essential Commodities Act, 1955. Further, in order to facilitate smooth and seamless import, the government

The Tamil Nadu government will provide cooperative crop loans to the tune of Rs 14,000 crore to farmers in the State during 2023-24, Agriculture Minister M R K Panneerselvam said on Tuesday. During 2022-23, a total of 16.43 lakh farmers were provided crop loans for Rs 12,648 crore through the cooperative department. Also, interest-free cooperative loan of Rs 1,500 crore will be given to farmers for goat rearing, dairying, poultry and fisheries activities, he said while presenting the budget for agriculture department in the Assembly. About Rs 500 crore has been allocated to provide incentive to paddy growers at the rate of Rs 100 and Rs 75 per quintal, respectively, for fine and bold varieties, for the procurement period next year. Millet festivals would be held under the Tamil Nadu Millet Mission to create awareness among consumers and increase the millet consumption. "As the United Nations General Assembly has declared 2023 as the International Year of Millets, it is proposed to

The government on Friday said fertiliser cooperative major IFFCO and state-owned Coal India Ltd (CIL) will manufacture Nano DAP for a period of three years. A notification in this regard was issued on March 2, Minister of State for Chemicals and Fertilisers Bhagwanth Khuba said in his written reply to the Lok Sabha. Di Ammonium Phosphate (DAP) is the second most widely consumed fertiliser after urea in the country. The minister further said IFFCO has informed that it is setting up a Nano DAP plant at its Kalol unit, Gujarat with a production capacity of 2 lakh bottles of 500 ml per day. "Nano DAP will be available in the market across the country after commencement of commercial production," he added. On its benefits, the minister shared that preliminary field trials were conducted by IFFCO and CIL on select crops in select institutes of Indian Council of Agricultural Research (ICAR). The report has indicated that with the use of Nano DAP as seed treatment and foliar application

A Parliamentary panel has expressed concern over the surrender of funds amounting to Rs 44,015.81 crore in three financial years, including the current fiscal, by the Department of Agriculture and said corrective measures should be taken to ensure full utilisation of the budgeted amount. The Standing Committee on Agriculture, Animal Husbandry and Food Processing has laid its report on the department in the Lok Sabha on March 13 and in the Rajya Sabha on March 14. "The Committee note from the reply of the Department that funds have been surrendered amounting to Rs 23,824.54 crore, Rs 429.22 crore and Rs 19,762.05 crore during 2020-21, 2021-22 and 2022-23 (tentative), respectively. That means Rs 44,015.81 crore in total have been surrendered by the Department in these years," the report said. The committee have been informed that the surrender of funds is mainly on account of less requirement under NES (North Eastern States), SCSP (Schedule Caste Sub-Plan) and Tribal Area Sub-Plan ...

Agriculture Minister Narendra Singh Tomar on Friday stressed the need to reach out to all farmers with new technologies and research amid the challenges of climate change. Addressing the 94th Annual General Meeting of the Indian Council of Agricultural Research (ICAR) Society, Tomar said agriculture is the backbone of the Indian economy and the sector must be further developed. "Various challenges like Climate Change are before us today. We are also facing the challenge of damage caused to the standing crops of the farmers due to natural disasters. In new India, we have to reach out to all the farmers with new technology and research," he said. He lauded the contribution of the ICAR scientists in boosting the farm sector so far and said more research efforts are required to make a new India by 2047. The minister also said India's supremacy in the farm sector is increasing all over the world and even expectations are also rising, according to an official statement. On the agricultu

The data related to monsoon and crop production for the decade suggest that despite uneven monsoon rains over the years, Indian agricultural output has remained largely immune to rainfall patterns

More than 11,200 tillers in Punjab, who have been occupying over 4,000 acres of land for generations but had no title rights, will get the ownership after paying due compensation as President Droupadi Murmu gave her assent to a legislation in this effect, officials said on Thursday. The Punjab Bhondedar, Butemar, Dohlidar, Insar Miadi, Mukarraridar, Mundhimar, Panahi Qadeem, Saunjidar, or Taraddadkar (Vesting of Proprietary Rights) Bill, 2020 was passed by the Punjab Assembly in 2020 when the Congress government led by Amarinder Singh was in power. "The President gave assent to the Bill passed by the Punjab Assembly," an official said. The move allows property rights to more than 11,200 tenants occupying over 4,000 acres land after paying due compensation. It is expected that the legislation will empower tillers of such land, who belong mostly to the economically and socially weaker sections of society, the official said. These tenants have been in occupation of small parcels of

The increase in the tax on palm oil could lift local prices, making the tropical oil a little less competitive than rival soyoil and sunflower oil

Biomass market in India is expected to reach Rs 32,000 crore by FY2030-31 piggybacking on government schemes as well as investments from global green energy companies, according to a report. The launch of new schemes in the support of biomass cogeneration projects is playing a crucial role in the capacity additions of small biogas plants located in remote and rural parts of India, the report by 1Lattice, a technology-enabled decision support organisation, said. The Indian biomass market is attracting investments from global green energy companies. There is a growing demand for the supply of clean and reliable power to businesses in India and biomass as a source of energy is expected to play a crucial role in meeting the power demand, the report explained. Abhishek Maiti, Director, 1Lattice in a statement said, "India currently has an installed capacity of 10.2 GW for biomass production and the biomass market in India is expected to reach Rs 32,000 crore by FY'31." Investments and

The Congress on Sunday resolved to make minimum support price for crops a legally enforceable right of farmers with any purchase of agricultural produce below it a punishable offence. The party also said no criminal proceedings will be initiated against farmers over debt and no land will be auctioned to recover outstanding loans. The party, in a resolution on farmers and agriculture adopted at its 85th plenary session here, also resolved to provide one-time immediate relief to farmers from indebtedness by bringing a debt waiver scheme to waive up to Rs 6 lakh each farmer. "The Indian National Congress resolves that MSP (minimum support price) should be a legally enforceable right of the farmers. Purchase of agricultural produce below MSP be made a punishable offense," the party said. "MSP should be calculated based on the C-2 cost plus 50 per cent profit as suggested by the Swaminathan Commission and subsequently recommended in the report of the Group of Chief Ministers headed by t

Gwalior's royal family scion Mahanaaryaman Scindia, whose name speaks volumes, has shed his legacy and ventured into building his own empire from scratch through startup MyMandi, which he expects to turn profitable in about one-and-a-half years of its business commencement. By combining his lineage of public service, lessons of creating social impact by grandfather late Madhavrao Scindia and wisdom acquired during work at global firms Boston Consulting Group and Softbank Group, 27-year-old Scindia and his firm's co-founder Suryansh Rana, 25, zeroed in on a common passion of working in agriculture sector, cut down on waste of fresh produce and logistic costs. Founded in 2022, MyMandi began operations from Gwalior where Scindia himself goes into local mandis, with a covered face to conceal his identity, for procuring fresh produce and sell the inventory to the firm's last mile delivery partners -- street vendors and cart pushers community. The formula of their venture has led to a ...

Wheat crop is in good condition and the government's procurement would be normal at 300-400 lakh tonne in the 2023-24 marketing year starting March, FCI Chairman and Managing Director Ashok K Meena said on Thursday. "Area sown to wheat is higher than last year. The current condition of wheat crop is very good. Our procurement should be normal at 300-400 lakh tonne in 2023-24," Meena said in a press conference. The wheat procurement had declined last year due to a fall in domestic production and higher exports, he said. Asked whether there would be any impact on wheat crop due to rise in temperature, as forecast by the Met Department, Meena said it is unlikely to have any impact and the short duration crop will not be affected. The government has projected a record wheat production at 112.18 million tonne in the 2023-24 crop year (July-June) as per the second estimate of the agriculture ministry. Last year, wheat procurement for the central pool had declined to 187.92 lakh tonne fr

Seeking to strengthen the cooperative movement in the country, the union Cabinet on Wednesday approved setting up of 2 lakh Primary Agriculture Credit Societies (PACS) and dairy-fishery cooperatives in uncovered villages and panchayats over the next five years. At present, there are around 63,000 functional PACS in the country. The Cabinet approved steps to strengthen the cooperative movement in the country and deepen its reach up to the grassroots. The plan is to establish PACS in each uncovered panchayat, viable dairy cooperatives in each uncovered panchayat/village and viable fishery cooperatives in each coastal panchayat/village as well as panchayat/village having large water bodies. The initial target is to establish 2 lakh multipurpose PACS/dairy/fishery cooperatives in the next five years, I&B Minister Anurag Thakur said at a Cabinet briefing. The plan will be implemented with the convergence of various schemes by leveraging the 'whole of government' approach. The proposal

However, fertiliser stocks may not see another upsurge as they have have more-than-doubled in the last six months, they said

Budget 2023: Finance Minister Nirmala Sitharaman said that the Centre will encourage one crore farmers to take up natural farming

Union Minister of Agriculture and Farmers Welfare Narendra Singh Tomar on Friday said that the Rozgar Mela will act as a catalyst in employment generation and provide meaningful opportunities