Page 6 - Agriculture Economy

BS Manthan: GM only way to lower edible oil imports, says NITI's Chand

NITI Aayog Member Ramesh Chand says GM is only way to lower edible oil imports

Govt achieves goal of setting up of 10,000 farmer producer organisations

The government on Friday said it has achieved the target of establishing 10,000 farmer producer organisations (FPOs) under a flagship central scheme. The 10,000th FPO, registered in Khagaria district in Bihar, focuses on maize, banana and paddy and was launched recently by Prime Minister Narendra Modi. The central scheme for Formation and Promotion of 10,000 FPOs" was launched on February 29th 2020 with a budget outlay of Rs 6,865 crore till 2027-28. According to the agriculture ministry, the successful formation of 10,000 FPOs marks a "transformative milestone for the agriculture sector." This achievement not only boosts agricultural productivity and income but also contributes to rural job creation and economic resilience. "As India moves forward, the continued support and expansion of FPOs will be instrumental in shaping a self-reliant, efficient, and prosperous agricultural ecosystem," the ministry said in a statement. Since the launch, Rs 254.4 crore in equity grants has bee

Scorching March likely to put India's wheat crop production at risk

India, the world's second-biggest wheat producer, is counting on a bumper harvest in 2025 to avoid costly imports, after three consecutive years of poor crop yields since 2022

'Aatmanirbhar means readiness for uncertainty', says Principal Secy to PM

BS Manthan: PK Mishra, principal secretary to the Prime Minister of India, believes the country must adopt an 'anti-fragile' approach in an uncertain world

Operative Kisan Credit Card loans hit Rs 10 trn, benefiting 77.2 mn farmers

The finance ministry on Tuesday said the amount under operative Kisan Credit Card (KCC) accounts has crossed Rs 10 lakh crore, benefiting 7.72 crore farmers as of December 31, 2024. The operative KCC amount stood at Rs 4.26 lakh crore in March 2014. This indicates a significant increase in the quantum of affordable working capital loans provided to farmers for agriculture and allied activities, the finance ministry said in a statement. It is a reflection of credit deepening in agriculture and reduced dependency on non-institutional credit, the ministry added. KCC is a banking product that provides farmers with timely and affordable credit for purchasing agricultural inputs such as seeds, fertilisers, and pesticides, as well as for meeting cash requirements related to crop production and allied activities. In 2019, the KCC scheme was extended to cover the working capital requirements of allied activities like animal husbandry, dairy and fisheries. The government, under the Modifie

Govt mulling ways to curb distress sale of farm produce: Shivraj Chouhan

Union Agriculture Minister Shivraj Singh Chouhan on Saturday said the government is working out measures to ensure that farmers do not have to sell their produces, especially fruits and vegetables, at throwaway prices. Speaking after inaugurating the 'Pusa Krishi Vigyan Mela' 2025 -- being held in the national capital from February 22-24 -- he emphasised the need to take new seeds varieties and farm technologies from labs to agriculture filed at the earliest. Chouhan said the government is holding discussions with farmers directly as well as through their organisations to understand the problems and then making schemes to address the issues. "Jahan-Jahan takleefein dekh rahe hain, hum yojana bana rahe hain (wherever we are seeing problems, we are making schemes to address those)", the minister said, listing out steps taken by the government in the last few years to protect the interest of farmers. Chouhan said the government has removed exports restrictions on rice and onions while

Farm facelift: Budget offers hope for agri, but is it enough to modernise?

Besides the tech issue, the Budget may not have addressed some other concerns relevant for the agriculture sector

Before GIS, MP releases key policies including industrial and export policy

According to officials from the industry department, the government has made key changes in its policies to attract industrialists, multinational companies, and investors ahead of GIS

Over 20.5 mn farmer IDs created under Digital Agriculture Mission: Govt

More than 2.05 crore farmer IDs have been generated under the Digital Agriculture Mission, Parliament was informed on Tuesday. Minister of State for Agriculture Ramnath Thakur, in his written reply to the Lok Sabha, said the State Farmer Registry under the Digital Agriculture Mission covers all landholder farmers, including women farmers. Farmers Registry application also has the provision to onboard the tenant and lessee farmers. A state can decide to include such farmers in the Farmers Registry as per the state's policy. "As of February 2, a total of 2,05,26,912 farmer IDs have been created...," Thakur said. This includes 1.02 crore farmer IDs in Uttar Pradesh, 41.87 lakh IDs in Madhya Pradesh, 36.36 lakh in Gujarat, 22.54 lakh in Maharashtra, 1.42 lakh in Assam, and 75,593 in Rajasthan. About 14,343 farmer IDs have been created in Chhatisgarh, 9,843 in Odisha, 3,054 in Tamil Nadu, 424 in Andhra Pradesh and 19 IDs in Bihar. The Digital Agriculture Mission, with an outlay of Rs

Soy, groundnut purchase deadline extended as prices remain below MSP

Extends deadline for soybean, groundnut procurement as prices stay below MSP

Govt to upgrade e-NAM platform to promote inter-state trade: Chouhan in RS

Chouhan said agricultural marketing is a state subject and agricultural produce market committees (APMCs) are regulated by the respective State Agricultural Produce Market Committee Act

Govt adds 10 additional commodities to e-NAM platform for trading

The Agriculture Ministry has allowed trading of 10 additional commodities on the electronic-National Agriculture Market (e-NAM), taking the total number of tradable items on the platform to 231. The newly added commodities include dried Tulsi leaves, Besant (Chickpea flour), wheat flour, chana sattu (Roasted Chickpea Flour), water Chestnut flour, asafoetida, dried fenugreek leaves, baby corn, dragon fruit and water Chestnut, the ministry said in a statement. The decision follows extensive consultations with stakeholders, including state agencies, traders, subject matter specialists and the Small Farmers Agribusiness Consortium (SFAC). Several of these items, particularly chana sattu, water Chestnut flour, asafoetida and dried fenugreek leaves, fall under secondary trade category, which can help Farmer Producer Organizations (FPOs) to market value-added products and formalize trade in the sector. The Directorate of Marketing and Inspection (DMI) has formulated tradable parameters fo

Boost for agriculture: Budget proposals will help farmers and consumers

In terms of Budget allocation, agriculture and its allied sectors have seen a healthy jump of about 22 per cent to about Rs 1.71 trillion

Budget 2025 FAQs: Key tax, insurance and investment changes explained

Budget 2025 brings key tax, insurance, and investment changes. From ULIP taxation to NPS benefits and Kisan Credit Card updates, here's a breakdown of FAQs to help you understand the new provisions

Charting a new growth path: Budget sets sights on greener pastures

Uncertain rainfall remains a significant challenge

Union Budget 2025-26: Efforts made to revitalise agri, rural economy

A Nabard survey shows a sharp rise in the share of agricultural households in the rural sector with the numbers shooting up from 48 per cent in 2016-17 to 56.7 per cent in 2021-22

Union Budget 2025: Agri industry lauds focus on pulses, seeds, tech

Industry leaders on Saturday welcomed the Union Budget 2025-26's agricultural initiatives, particularly applauding the government's emphasis on technology integration and seed development, while noting that certain sector-specific demands remain unaddressed. The Budget's agricultural roadmap, centered around making the sector a primary growth engine, has drawn positive responses for its focus on reducing import dependencies and boosting domestic production. "The government is focusing on agriculture as a growth engine of the economy and targeting to reduce dependence on import of edible oil," said Sanjeev Asthana, President of Solvent Extractors' Association of India (SEA) in a statement. He expressed hope for an additional annual allocation of at least Rs 5,000 crore for the Oilseed Development Programme. However, some industry leaders pointed out gaps in the Budget provisions. Federation of Seed Industry of India (FSII) Chairman Ajai Rana, while welcoming schemes promoting ...

Budget 2025: Agri focus, tax cut to build positive momentum for auto sector

The budget's focus on agriculture and tax relief for individuals is likely to spur demand triggering a positive effect on the automobile industry, industry players on Saturday. Auto industry body SIAM noted that the government is focused on long-term sustained economic growth. "The specific focus on rural prosperity and agriculture, coupled with reforms in the personal income tax, is likely to have a positive effect on the auto Industry, and will help in creating demand," SIAM President Shailesh Chandra said in a statement. As the industry transitions into cleaner powertrains, it will specifically benefit from the National Manufacturing Mission, which supports clean tech manufacturing for batteries, motors and controllers, he added. "Furthermore, the exemption of critical minerals (e.g. Cobalt, Lead, Zinc etc.), scraps of Lithium-ion battery, and 35 additional capital goods from customs duty will help create a strong EV ecosystem in the country," Chandra said. The industry is also

Budget 2025: Cotton mission, PM Dhan Dhanya Yojana to boost agriculture

Union Budget 2025: A Makhana Board will be set up in Bihar, with a National Mission for high-yield seeds and a cotton productivity mission, boosting seafood exports to Rs 60,000 crore

Agri credit disbursement hits Rs 19.28 trillion in first 3 quarters of FY25

The Finance Ministry on Friday said the Ground Level Agriculture Credit (GLC) has crossed Rs 19 lakh crore in nine months of the current fiscal as against the target of Rs 27.50 lakh crore for the entire FY25. Against the target of Rs 27.50 lakh crore, agriculture credit to the tune of Rs 19.28 lakh crore has been disbursed as of December 31, 2024, registering 70 per cent achievement, the finance ministry said in a statement. In order to boost the credit to the rural sector with the help of effective and hassle-free agriculture credit, the government has been fixing annual targets for GLC. Over the past decade (2014-15 to 2023-24), agricultural credit disbursement has witnessed an average annual growth rate of more than 13 per cent, reflecting the increasing financial support extended to the sector. In the financial year 2023-24, agricultural credit disbursement reached Rs 25.48 lakh crore. For 2024-25 the Government of India has set GLC target of Rs 27.5 lakh crore with a dedicat