Zero-budget farming is being promoted in several areas as a low-cost, natural alternative to prevalent practices of heavy use of chemical fertilisers and pesticides.
Agriculture minister Narendra Singh Tomar is hopeful of early recovery.
“Annadata can also be urjadata,” Nirmala Sitharaman had said in her budget speech.
The government has signed a pact with IT major IBM to provide weather forecast and soil moisture information at farm and village level using Artificial Intelligence and high-tech weather technology.
The infusion of capital will be in the form of equity and would not be divided in shares as FCI is established under a special Act of Parliament and does not come under the Companies Act.
A proposal in this regard was circulated in the agriculture and food ministry, he said.
This is despite a record harvest of 101.20 MT and highest minimum support price (MSP) of Rs 1,840 a quintal.
The rainfall deficit has come down to 35% from around 42% last week.
The trading will initially start from state owned warehouses of Warehousing Development and Regulatory Authority (WDRA).
The weather office has forecast increased rainfall in southern, western and eastern India as well as Assam.
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