Rattled by soaring food prices and falling farm productivity, the FM has announced a slew of measures to boost the farm sector and vowed to deepen the process of attracting more private investment in agriculture and agro-processing. He announced an increase in bank lending for farm sector as well as interest subsidy to farmers who pay short-term crop loans on time. "I propose to enhance additional subvention to 3% in 2011-12....
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Farm credit target to see 20% rise to Rs 4,50,000 cr by Dheeraj Tiwari
The budget for the next fiscal is likely to step up the target for farm credit to 4,50,000 crore, up 20% from the current year's 3,75,000 crore. With the agriculture sector seen growing at 5.4% in the current fiscal, the government will push banks to disburse more to the sector to maintain the momentum, said a senior government official. The upheavel in the micro-finance sector will also necessitate greater lending by banks. "The...
More »Neoliberal illogic by Prabhat Patnaik
The class bias in government policy is clear in the decision to release a small amount of foodgrain in the open market to tackle inflation. MOST people would agree that there is a strong element of speculation underlying the current inflation and that forward trading contributes to it. Yet the government, though it has banned forward trading in certain commodities under public pressure, is curiously reluctant to see this point....
More »2010 a nightmare for tobacco farmers by Prashanth Chintala
Crop loss estimated at Rs 625 crore For Andhra Pradesh tobacco farmers, 2010 was a tough year. Heavy rain in the last week of November and the first week of December damaged the crop extensively, resulting in a loss of around Rs 625 crore. “According to our estimates, standing crop in 52,000 hectares out of the total 110,000 hectares has been either partially or fully damaged. This is the worst crop loss...
More »CM to press for special package for farmers
Chief Minister N Kiran Kumar, who is leaving for Delhi tomorrow, will take up with Prime Minister the issue of a special package to the farmers who have lost their corps in the recent rains. He will also meet food and agriculture minister Sharad Pawar and others. Reddy along with finance minister Anam Ramnarayan Reddy, revenue minister N Raghuveera Reddy, chief secretary SV Prasad and other officials, reviewed the various efforts...
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