While India continues to ban key agricultural futures contracts, labelling them as a villain in food inflation, Indonesia has been planning to encourage the domestic futures market to channelise local supplies and exports of Crude Palm Oil (CPO)
In the first state budget rolled out by the Maharashtra government led by the Eknath Shinde-headed Shiv Sena and the Bharatiya Janata Party (BJP) on March 9, the focus was on the welfare of farmers and development of the agriculture sector.
The government is likely to prefer indirect transfer of income which creates a multiplier effect on the economy to boost consumption
The approval is based on recommendations of the Commission for Agricultural Costs and Prices (CACP) and views of major coconut growing states.
The Congress’ unit for farmers also accused the BJP-led central government of not cooperating with farmers and reneging on its promises made to them following which, the year-long stir at Delhi borders was suspended.
PSS, which is under the Agriculture Ministry, is operationalised only when prices of agri-produce fall below the minimum support price (MSP). Cooperative Nafed is undertaking procurement on behalf of the central government.
The farmer leaders have alleged that the Union government had no intention of fulfilling their promises and that there was a need of a bigger agitation.
Prime Minister Narendra Modi chaired a union cabinet meeting today at his residence. The minimum support price of rice and other Rabi crops was on the agenda for the meet. Stay tuned for the measures announced at the briefing.
Minimum support price refers to state-set price at which government agencies procure select crops from farmers to shield them from typical price volatilities. About 23 crops are currently covered under MSP.
In the first meeting held on August 22 in the national capital, the committee -- headed by former Agriculture Secretary Sanjay Agrawal -- had formed three internal subgroups to deliberate on the mandated topics.
The need of the hour is to bring people out of farming, which is largely a loss-making enterprise, said the veteran farm leader.
The panel has 26 members including the chairman, while three membership slots are kept aside for representatives of SKM.
The government on Monday formed a committee on Minimum Support Price (MSP), eight months after it promised to set up such a panel while withdrawing the three contentious farm laws.
As many as 60 farm bodies are scheduled to take part in the meeting of the umbrella organisation of various farmers' organisations.
Ramesh Chand, a member of the government think tank Niti Aayog, stated on Wednesday that the minimum support price for agricultural crops should continue as long as markets become competitive and efficient, but it should be provided by methods other than procurement.
Chand batted for deferred deficiency price payments (DPP) as an alternative to the existing procurement based MSP structure.
Speaking at a Jat community programme here, Malik said he will also join the movement once he completes his term as Meghalaya governor.
The rainfall during the current monsoon season is likely to be 103 percent of the long-period average, which would then mark the fourth consecutive year of India experiencing a normal monsoon season, according to the India Meteorological Department's second long-range forecast.
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The issue of 5G spectrum pricing was not taken up in the cabinet meeting today, Union Minister Anurag Singh Thakur said.
This comes in the backdrop of wheat production estimated for 2022-23 now falling to 105 million tonnes, from the earlier 113.5 million tonnes estimated.
Government plans to push wheat exports, even as domestic prices reach decadal highs, raising retail prices of Atta as well.
The sudden fall in wheat yields due to the heatwave across North India, and continuing bulk purchases by traders eyeing exports, have led to government procurement slowing down. If the situation persists, restrictions could become inevitable soon, say officials.
The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, on Tuesday approved the MSP for raw jute for the 2022-23 season.
While the Budget 2022 lined up steps that will increase the farmers’ income 'substantially', there was no clarity about the desired income level which would have proved that the incomes did actually double