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...
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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 »Flexible voices in food cell by Radhika Ramaseshan
Some members of the Sonia Gandhi-led National Advisory Council are in favour of a “compromise” on the food security bill after a committee appointed by the Prime Minister turned down their key recommendations yesterday. These members, speaking off the record, said they wanted to take the process forward and bring the bill in Parliament. However, this would be subject to the view that Sonia takes on the C. Rangarajan report. The bill,...
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...
More »Kiran announces sops for farmers
The state government on Thursday announced a package of Input Subsidy of Rs 6,000 per hectare, a compensation of Rs 5,000 for loss of livestock, discoloured yarn and damaged equipment of fishermen apart from rescheduling of all farm loans and interest waiver for farmers who suffered loss due to flooding in the past 15 months. Chief minister N Kiran Kumar Reddy in his reply to the debate on the farmers'...
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