The sixth census of minor irrigation (MI) schemes showed that the number of both groundwater and surface water schemes have increased at the national level.
The "Jalyukt Shivar Abhiyaan" was launched by the Devendra Fadnavis government in a bid to make Maharashtra a drought-free state by 2019. The project involves deepening and widening of streams, construction of cement and earthen stop dams, work on nullahs and digging of farm ponds.
"The rains are very good now, so post October, we expect lot more demand. Also, some of the government action like making sugarcane mandatory with drip should result into a very strong domestic business," Anil Jain, MD of Jain Irrigation said.
Telangana government decided to give guarantee for the State Industrial Infrastructure Corporation to obtain a loan of Rs 784 crore from HUDCO, a central PSU
Leading micro-irrigation company Jain Irrigation reported 22 per cent fall in its standalone net profit at Rs 64.4 crore in the fourth quarter of the 2015-16 fiscal on poor sales
In an interview to CNBC-TV18, Jain said his company has a 50 percent share in drip irrigation and he sees huge potential in this segment in the coming days.
Jain Irrigation Systems' total income rose to Rs 1,265.84 crore in the quarter as against Rs 1,234.47 crore in the year ago period. For the full fiscal 2012-13, the company's consolidated net profit decreased to Rs 30.8 crore from Rs 223.49 crore in the 2011-12 fiscal.
Credit Renaissance Fund offloaded its entire over 17 per cent stake in micro irrigation systems maker EPC Industries for more than Rs 61 crore in bulk deals on the exchanges.
The MET has predicted that this year's monsoon will be below normal levels. Anil Jain, MD, Jain Irrigation, says monsoons are a problem as they are difficult to predict as to which part of the country will have more and which will have less rainfall.
The finance minister has reduced the basic customs duty on on micro irrigation equipments to 5% from 7.5% in Union Budget 2011-12. In an interview with CNBC-TV18, Anil Jain, MD, Jain Irrigation gave his reaction on the finance minister's move.
Finance Minister Pranab Mukherjee while presenting the Union Budget 2011 says, micro irrigation is an environment friendly and efficient means of irrigation especially for dry land farming. I propose to reduce the basic customs duty on micro irrigation equipment from 7.4% to 5%.
Mahindra & Mahindra will launch an open offer on April 6 to buy an additional 20% stake in micro-irrigation firm EPC Industrie, a notice on Thursday showed.