-Business Standard Interest subvention, crop insurance on the cards The finance ministry is working on a plan to increase the number of workdays in the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) from 100 a year per person per household to 150 in areas receiving low monsoon rain. The government might also provide interest subvention and crop insurance in drought-affected regions through the e-Financial Management System (eFMS). “Since the eFMS contains the data...

-Livemint.com In summary, it is hard to escape the macroeconomic consequences of an agriculture shock, notwithstanding fluctuation-smoothing strategies The monsoon forecast, close on the heels of the Reserve Bank of India’s (RBI) monetary policy review, has turned all eyes to the farm sector. If the actual out-turn matches the India Meteorological Department’s (IMD) predictions — seasonal rainfall at 88% of the long-period average (LPA) for 2015 — it would be on...

-The Tribune Centre allocates addl foodgrain to J&K to meet shortfall Srinagar: Even as the Centre has decided to allot additional foodgrains to J&K to meet the shortfall, the state Cabinet, which is scheduled to meet here on Tuesday, is going to take a final call on whether it will implement the National Food Security Act (NFSA), 2013. This was submitted by Advocate General Riyaz A. Jan before a division bench of the...

-The Hindu ‘Its geographical Distribution is what matters’ Union Finance Minister Arun Jaitley said here on Thursday that concerns about the impact of a deficient monsoon on the economy were “misplaced” and “far-fetched”. He told presspersons that conclusions were being made in an exaggerated manner after the India Meteorological Department forecast on Tuesday that rainfall would be only 88 per cent of the long-term average. “The speculation and analyses we have seen in the...

-Business Standard Encourages states on short-duration and less of rain-dependent crops, pushes seed availability in case of re-sowing as IMD predicts deficit in rainfall this year Mumbai/ Hyderabad: With the forecast of monsoon rain revised downward, the Union ministry of agriculture has directed states to be ready with contingency plans. Earth Sciences Minister Harsh Vardhan said rainfall would be only 88 per cent of the long-term average from the 93 per cent expected...