Page 3 - Farm Sector

1.5% interest subvention on short-term agri loans of up to Rs 3 lakh: Govt

The Union Cabinet on Wednesday approved interest subvention of 1.5 per cent on short-term agriculture loans of up to Rs 3 lakh for all financial institutions, a move aimed at ensuring adequate credit flow in the farm sector. The Cabinet, chaired by Prime Minister Narendra Modi, has approved restoring interest subvention on short-term agriculture loans of 1.5 per cent for all financial institutions, Information and Broadcasting Minister Anurag Thakur said. The 1.5 per cent interest subvention will be provided to lending institutions (public and private sector banks, small finance banks, regional rural banks, cooperative banks and computerised Primary Agriculture Credit Societies) for the financial year 2022-23 to 2024-25 for providing short-term agri loans of up to Rs 3 lakh to farmers. "This increase in Interest Subvention support requires additional budgetary provisions of Rs 34,856 crore for the period of 2022-23 to 2024-25 under the scheme," an official statement said. The incre

NITI meet: PM Modi urges states to focus on '3Ts', modernising farm sector

Prime Minister Modi made a strong case for modernising agriculture, animal husbandry and food processing to help the country become self-sufficient and a global leader in the agriculture sector

PM wants India to become self-sufficient, global leader in farm sector

Prime Minister Narendra Modi on Sunday made a strong case for modernising the farm sector by using technology so that India can become self-sufficient and a global leader in the agriculture sector. Addressing the meeting of the Governing Council of the Niti Aayog, he said the rapid urbanisation can become India's strength instead of weakness by leveraging technology to ensure ease of living, transparent service delivery, and improvement in the quality of life. He said that India should become self-sufficient in the production of edible oil. The Prime Minister also spoke about the upcoming India's presidency of the G-20 in 2023. G-20 is a grouping of developed and developing nations. He asked the states to set up dedicated teams for G-20 with a view to deriving maximum possible benefit from the initiative. This was the first physical meeting of the Governing Council since the onset of the pandemic, with the 2021 meeting held via video conferencing. The meeting was attended by 23 c

Centre wants to create framework for PPP in farm sector: Agriculture Secy

Manoj Sinha said work on the framework is ongoing, private players are encouraged to share their inputs

What is soil health card scheme? Check eligibility, cost and challenges

Under SHC scheme, a soil health card contains soil health indicators and descriptive concepts based on farmers' knowledge of local natural resources and practical experience

India's farm sector clocks 4.1% growth in Q4 of FY22, shows data

Any growth between 3.5 and 4 per cent for the farm sector is considered above the long-term trend line

Farm segment-driven demand outlook remains strong for Balkrishna Industries

Raw material/freight costs will however weigh on its near term margins

Agri ministry to start campaign to highlight farm sector achievements

More than 1 crore farmers and stakeholders are expected to participate in the campaign through direct (offline) and virtual (online) medium across the country

Repeal of 3 farm laws a setback for doubling farmers' income: Niti member

Farm sector growth to be around 3% in FY22; can improve in FY23 if monsoon, other conditions are favourable: Niti member Ramesh Chand

Farm sector projected to grow at 2.6% in Q3FY22, down from 4.1% a year ago

This is despite a bumper kharif harvest, and is largely due to the effect of a higher base

Lower allocation

Budget for rural India may need to be revisited

Unprecedented provisions made for farm sector development in Budget: Tomar

Welcoming the Budget 2022, Agriculture Minister Narendra Singh Tomar on Tuesday said unprecedented provisions have been made for the overall development of the farm sector.

Industry, agri startups welcome Budget's focus on strengthening farm sector

The industry welcomed the Budget's focus on the agriculture sector, including developing infrastructure and expanding the role of technology.

Farm sector set to grow at 3.9% in FY22: First advance estimates

The gross value added (GVA) in agriculture and allied activities in FY22 is slightly higher than the long-term average for the sector which is 3-4 per cent

Best of BS Opinion: The limits of MSP, Covid-19 pandemic news, and more

Here are the best of BS Opinion pieces of the day

The limits of MSP

Farm sector needs intervention at multiple levels

Use of drones in farm sector can generate 50 lakh jobs: Nitin Gadkari

Gadkari said he has discussed with his two cabinet colleagues the need to draft a policy on using the drone technology in the farm sector

RSS still waits for BJP to execute 2020 Vijayadashami message on farm laws

In the 2020 speech, Bhagwat called for farm policies that were propelled by "swa"(self)

SKM reiterates demand for fair probe into lynching at Singhu border

The Samyukta Kisan Morcha reiterated its demand on Wednesday

Go against the grain: Open markets fetched lower prices than MSP

Analysis of 2019 study shows clear decline in the dominance of APMCs and rise of local traders in agricultural marketing