-The Hindu M.P., Gujarat likely to opt for new payment scheme Despite patchy rainfall in some parts, the Agriculture Ministry has set a foodgrain production target of 285.2 million tonnes for 2018-19, a marginal increase from the previous year’s harvest of 284.8 million tonnes. Rainfall deficit during the current monsoon season is now at 10%, according to the Indian Meteorological Department. “Some areas got extra rainfall, some areas were deficient. But in spite of...

-The Hindu Business Line Plan to convert more rice fallow land to pulses, oilseeds during rabi season New Delhi: The government has set a foodgrain target of 285.2 million tonnes (mt) for 2018-19, which is marginally higher than the expected production in 2017-18, the agriculture ministry said here on Tuesday. As per the fourth advance estimates released by the Government last month, the foodgrain harvest in 2017-18 would be around 284.83 mt, aided...

-Newsclick.in Insurance companies have already earned about Rs.16,000 crore in three seasons. The much-hyped Pradhan Mantri Fasal Bima Yojana (PMFBY) – supposed to provide insurance protection to farmers against crop losses due to natural events – has turned into a bonanza for insurance companies while farmers are angry over delays in claim settlement, rejections and paltry compensation. Launched in 2016, four full seasons have passed since and the financial transactions show earnings...

-The Indian Express We have, indeed, entered a regime of “permanent surpluses” in most crops — a reality our policymakers are unable to grasp, stuck as they are in the era of the Essential Commodities Act. If there is one thing that has changed in Indian agriculture in recent times, it is supply response — the ability of farmers to increase production when prices go up. Traditionally, the supply curve in most...

-The Indian Express The country had recorded GDP growth of 7.1 per cent in the previous financial year (2016-17). Growth is projected to rebound to 7.5 per cent this year. Boosted by an uptick in the manufacturing and construction sectors, and a good Rabi Harvest, India’s real gross domestic product (GDP) surged to a seven-quarter high of 7.7 per cent in January-March, the last quarter of the 2017-18 financial year. The rise...