Agriculture minister Narendra Singh Tomar has asked all chief ministers of states to implement the provisions and create an ecosystem for farm growth.He stressed the need for their continued support in the development and growth of the agriculture sector in the new reformed environment.
Following the pandemic, NABARD has provided Rs 25,000 crore nationwide for providing liquidity support to Cooperative Banks, Regional Rural Banks and Micro Finance Institutions (MFIs) during 2020-21 with a view to ensuring continued flow of credit to farmers.
Sugar industry argues that the raise in MSP would not affect public much as 65% of the sweetener is being used by the bulk consumers like food products and soft drink manufacturers.
The Reserve Bank of India on May 23, 2020 had permitted all lending institutions to extend moratorium on repayment of loans by another three months (up to August 31, 2020) in wake of the extension of lockdown and continuing disruption on account of COVID-19 pandemic.
With the pandemic and the ensuing lockdown, demand for horticultural produce is likely to be impacted more than that of food grains. Food grains have the government's minimum support price (MSP) and procurement support, the report explained.
The Telangana-based firm this week said revenue will rise as much as 20% in the financial year started April 1, compared with an average 15% forecast by eight analysts. Prime Minister Narendra Modi’s decision to scrap royalties paid to Bayer AG for Monsanto’s genetically modified cotton will also help Kaveri Seed, the company said.
It also cleared an amendment to the Essential Commodities Act, to remove commodities such as cereals, pulses, oilseeds, edible oil, onion and potatoes from the list of essential commodities. This will lift any restrictions on stocking these commodities by processors, millers, importers, exporters and traders.
The Cabinet also approved 'The Farming Produce Trade and Commerce (Promotion and Facilitation) Ordinance, 2020' to ensure barrier free trade in agriculture produce.
Government has allocated Rs 61,500 crore for Mgnrega for 2020-21. Besides, an additional provision of Rs 40,000 crore has been made for this programme under Atmanirbhar Bharat Abhiyan to provide employment to the needy workers during this difficult period arising of COVID-19.
The second advance estimates also places total horticulture production in 2019-20 to be at 320.48 million tonnes - 3.13% higher than last year.
Bhuse also said that 32 lakh farmers had applied under the 'Mahatma Jyotiba Phule' crop loan waiver scheme, and the amount of Rs 12,000 crore has been deposited in the accounts of 19 lakh of 30 lakh eligible farmers before the lockdown came into force.
India has brought the locusts under control at 399 locations in five states and has placed an order to buy 60 new insecticide spraying machines, two government sources said.
The state government had distributed 72 lakh quintals of free grains to 68 lakh NFSA families in April and May costing Rs 802 crore at the current market price, it said.
Keeping in consideration the large-scale post monsoon developments and the sowing reports from various parts of the country, NBHC Pvt. Ltd. has come up with its Final Rabi Crop Estimates for 2019-20.
ISMA had estimated a production of 265 lakh tonnes for the current season. However, the gur and khandsari manufacturers shut their operations in U.P very early because of the lock down, because of which a substantial quantity of sugarcane got diverted to the sugar mills therein.
Regulating crops is not an end in itself and does not guarantee better profitability for farmers, Federation of Seed Industry of India (FSII) director general Ram Kaundinya told ET in an interview.
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