In a major relief to farmers and exporters, the Centre on Wednesday slashed the minimum export price (MEP) for onions by 25 per cent to $450 a tonne from $600. “Minimum Export Price of onions other than Bangalore Rose onions and Krishnapuram will be $450 per tonne freight on board,” Directorate General of Foreign Trade (DGFT) said in a notification. Last month, the government had lifted a ban on onion exports after...

Pranab Mukherjee, India’s finance minister, put the rural economy at the heart of a national budget on Monday, saying ridding the farm sector of crippling supply bottlenecks would be his “focus” in the coming fiscal year.A market-neutral budget supporting agriculture, welfare schemes and the extension of banking services to more people was designed to dispel any sense that the Congress party-led government was in drift after a series of high...

Ram Dia Singh was ready to chuck in his life as a farmer in northern India to embrace that of an ascetic in the foothills of the Himalayan mountains. When he consulted his guru in the hill town of Solan, instead of being welcomed into a holy order he was instructed to return to the land and do good works among fellow farmers who increasingly struggle to eke out a living...

Although rising food prices remain a critical concern, finance minister Pranab Mukherjee is counting on better supply management, improved output of pulses and rice, better access to rural credit and strengthening of existing agricultural schemes to bolster India’s farm output. The rural economy employs about 60% of India’s work force, contributes about 17% of gross domestic product, and is expected to post 5.4% growth over last year, according to advanced estimates...

A shift from the traditional rice-wheat cycle and linking farmers directly to the market can end the current stagnation in farm sector, according to the Economic Survey 2010-11 tabled in the Parliament on Friday.The survey stated that capital investment were required not only for farm productivity but also to create adequate infrastructure for transport, storage and distribution of agricultural produce. The stagnation is evident from the fact that whereas overall GDP...