Page 7 - Agriculture Economy

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

Rice industry calls for budget support to boost exports, agri infra

The Indian rice industry has urged the government to provide incentives and policy support in the upcoming Union Budget to address surplus stock, falling prices, and sluggish exports. The industry also demanded development of modern and better rural infrastructure in the budget, particularly irrigation and cold storage facilities. Dev Garg, Vice President of the Indian Rice Exporters Federation (IREF), highlighted a bumper surplus of 500 lakh tonnes which has led to a price decline of 10-15 per cent in both basmati and white rice. Despite the government's recent move to lift restrictions on non-basmati rice exports, shipments have remained weak. From April to now, rice exports have totalled Rs 76,000 crore, significantly lower than last year's Rs 1.14 lakh crore during the same period, he said. "The current quarter is difficult for traders, and exports are unlikely to improve in the next three months. With bumper crop coming in and no space to store, the situation demands governmen

Eco Survey calls for policy shift to cut cereal output, boost pulses, oils

The pre-budget document for the 2024-25 fiscal has suggested policy reforms to discourage overproduction of cereals while boosting output of pulses and edible oils, which the country currently imports to meet domestic shortages. The Economic Survey 2024-25, tabled in Parliament on Friday, stressed that India's agriculture sector has "significant untapped growth potential" despite various growth initiatives. Farmers must be allowed to receive unimpeded price signals from the market, with separate mechanisms to protect vulnerable households, it added. The document outlined three key policy shifts needed - establishing market mechanisms for price risk hedging, preventing excessive fertiliser use, and discouraging production of water and power-intensive crops that are already in surplus. "These policy shifts will help lift agricultural productivity in the economy by boosting land and labour productivity in the sector," the survey said. Agriculture sector growth averaged 5 per cent ...

Govt may consider agri subsidies via direct benefit transfer: Shivraj Singh

The government is trying to bring policy-level changes for simplifying agriculture, Union Minister Shivraj Singh Chouhan on Monday said and indicated that providing subsidies on fertiliser, seed and farming equipment through direct benefit transfer could be considered in the future. In an interaction with farmers, who were invited to witness the Republic Day parade as special guests, at his residence here on Monday, the Agriculture and Rural Development Minister said the government spends up to Rs 2,00,000 crore on fertiliser subsidies. "The fertiliser subsidy that the government gives costs to the tune of Rs 2,00,000 crore. A sack of urea costs Rs 265 to the farmers, but it costs Rs 2,400. The subsidy goes to the company. The fertilizer is also used for other purposes... If there is a reliable system, farmers can be given the subsidy directly in their accounts," Chouhan said. "The PM Kisan Samman Nidhi's cost comes to around Rs 60,000 crore, if the fertilizer subsidy is given throu

Amit Shah bats for science-led co-op farming, takes jibe at Sharad Pawar

Union Cooperation Minister Amit Shah on Friday said agriculture becomes a profitable business when science is part of the cooperative sector. Shah also took a swipe at NCP (SP) chief Sharad Pawar, saying just becoming a leader is not enough and questioned his contribution to the key sector when he was the Agriculture Minister in the Congress-led UPA government (2004-2014). 'You also need to work on the ground," he said while addressing a meeting of the cooperative sector at Malegaon in north Maharashtra's Nashik district. Shah, who also holds the home portfolio, pointed out that to emphasise on the importance of science, Prime Minister Narendra Modi had included 'Jai Vigyan' to former PM Lal Bahadur Shastri's famous slogan of 'Jai Jawan Jai Kisan' (hailing soldiers and farmers). Agriculture becomes a profitable business when science is part of the cooperative sector, noted the minister. He said a separate entity, Bharat Cooperative Organics Ltd (officially named National ...

Any subsidy given to farm sector must directly reach farmers: V-P Dhankhar

Vice President Jagdeep Dhankhar said on Thursday that any subsidy given to the farm sector, in any form, must reach the farmer directly. The VP was delivering his address as chief guest at the inaugural event of Amrut Mahotsav and Alumni Meet of College of Agriculture, University of Agricultural Sciences in Dharwad on January 16. Let the farmer decide, even fertilizer subsidy, which is huge... economists in agronomy must think if this assistance has to go directly to the farmer it will initiate the farmer into an alternative to chemical fertilizers. The farmer can utilize these funds for going organic and natural, said Dhankhar. The Vice President also said distress of farmers calls for urgent national attention and that the concerns of peasants cannot be put on the back burner. Farmers need economic security... I would say time is of absolute essence when it comes to finding resolution of farmers' problems. The government is working. We want everyone to be in synergetic mode, to .

Farmers' stir: Leaders of key farmers' groups to put up a united front

SKM, KMM and SKM (Non-Political) hold joint meeting

SKM calls for R-Day tractor marches, urges PM Modi to address farmer issues

Samyukt Kisan Morcha (SKM) on Sunday called for tractor marches across the country on January 26 and demanded that Prime Minister Narendra Modi hold discussions with farmers over their pending demands. The SKM's call comes amid growing concerns over the health of farmer leader Jagjit Singh Dallewal, who has been on an indefinite fast for 48 days. Dallewal, the convener of SKM (Non-Political), has been on the indefinite hunger strike at the Khanauri border point between Punjab and Haryana since November 26 last year over farmers' various demands including a legal guarantee to Minimum Support Price (MSP) for crops. In a statement issued here, the SKM also announced that a meeting with SKM (Non-political) and KMM will be held on Monday for a joint struggle over demands, including MSP and the scrapping of the National Policy Framework on Agricultural Marketing (NPFAM). "SKM called upon farmers to conduct Tractor/Vehicle/Motorcycle Parades on 26th January 2025, the 76th Republic Day, at

Reforms needed in ICAR for better outcomes, says PM's principal secy

PK Mishra says India needs to accelerate hybrid tech adoption in pulses, oilseeds to overcome production deficits

Hybrid crop tech key to small farmers' growth, food security: PK Mishra

Hybrid crop technology can play a crucial role to address the unique challenges faced by the agricultural sector, particularly in supporting small-holding farmers who comprise 88 per cent of the agricultural workforce, helping India become a developed nation by 2047, Principal Secretary to Prime Minister PK Mishra said on Wednesday. Despite agriculture's share in GDP declining from 42 per cent in 1977 to 18 per cent in 2023-24, the sector remains critical for inclusive growth with 46 per cent of India's workforce still dependent on it, compared to 70 per cent in 1977. "For becoming a developed country, we need to have not only higher rate of economic growth but the growth should be inclusive and sustainable," Mishra said addressing a national symposium organised by Trust for Advancement of Agricultural Sciences (TAAS) here. "The agriculture sector plays an important role in making growth inclusive and equitable." India's agricultural growth has shown remarkable acceleration, reach

Huge opportunities to increase share in global agri trade: APEDA chairman

Indian exporters have huge opportunities to increase their share in the global agriculture trade from the current 2.4 per cent, a government official said on Wednesday. The global agriculture trade is about USD 2 trillion. Agricultural and Processed Food Products Export Development Authority (APEDA) Chairman Abhishek Dev said that given these numbers, "huge opportunities" are there to increase exports from the country. Despite being the seventh largest agri exporter in the world, "our share is 2.4 per cent in the overall world agri trade and immense possibilities are there to increase this share," he said at the inauguration of Indusfood 2025 at Greater Noida. India's agri export was about USD 50 billion in 2023-24 and this year also, the country is looking at pushing the figure to "new record", he said. Dev added that the overall focus now is to promote exports of value-added goods. Talking about exports of organic products, the chairman said India's share in this segment is abo