-Press released by All India Kisan Sangharsh Coordination Committee (AIKSCC) dated 1st February, 2020 Delhi, February 1st 2020: Budget fails to increase rural demand and purchasing power which would have boosted the economy - instead, the Budget only boosts the profits of big corporates and MNCs, said AIKSCC. When the crying need in India’s economy is to increase the demand and purchasing power in rural areas, and hence rural incomes, the...
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Budget 2020-21: Govt to announce Rs 10,000-crore 5-year plan for FPOs -Prabhudatta Mishra
-Financial Express Budget 2020: The direct budgetary aid would be in the form of a grant equivalent to the equity capital of each FPO. Budget 2020: The government will likely announce a five-year scheme in the upcoming Budget, entailing a total support —both budgetary and indirect —of Rs 7,000-10,000 crore to honour its pledge of creating 10,000 farmer producers’ organisations (FPOs) and help boost their agricultural income. The direct budgetary aid would be...
More »Give farmers their due credit -Ashok Gulati & Ritika Juneja
-The Indian Express All crop loans should be routed through Kisan Credit Cards. This will ensure that farmers do not use the loans for non-agricultural purposes. Normally, a sector’s credit off-take is a sign of its health. Higher the off-take, the better the sector’s performance. There has been a healthy off-take of ground-level credit (GLC) in agriculture and allied sectors. In the financial year (FY) 2018-19, banks disbursed Rs 12.55 trillion...
More »In 5 months, 40,000 Kerala farmers seek loan waiver -Shaju Philip
-The Indian Express In Idukki and Wayanad districts, where the situation is more severe, the loans availed up to August 31, 2018, are being considered by the commission for debt relief and in other districts it is March 31, 2014. Thiruvananthapuram: Around 40,000 marginal farmers in Kerala have approached the State Agricultural Debt Relief Commission in the last five months, seeking a waiver of loans they have taken from cooperative banks,...
More »Celebrating Diwali during a downturn -Sayantan Bera
-Livemint.com * A field report from the agriculturally prosperous heartland reveals a lacklustre festival of lights * Delay in farm loan waivers has worsened farmers’ credit score. So, financiers are unwilling to advance new loans to them for buying farm equipment SRI GANGANAGAR: "How are you going to celebrate Diwali?" My question gets Roopa Ram, an elderly farmer, so amused that he thinks it’s important to do some explaining to a reporter from...
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