The frequency of incidents of farmers committing suicides is “unimaginable” in West Bengal, State Left Front chairman Biman Bose said here on Friday.  “The government had fixed a target of 20 lakh metric tonnes for procurement of paddy from peasants in the State. According to reports, it has only collected 2 lakh metric tonnes so far,” Mr. Bose, who is also the State secretary of the CPI(M), told journalists.  Stating that paddy...

The Finance Ministry has launched a concessional loan scheme for farmers to prevent distress sale of agricultural produce. Farmers who park their produce at warehouses will be able to avail short-term post harvest loan at 7% as against the prevailing rate of 11%-12%. Farmers making timely payment of the loans will further enjoy 3% interest subvention, bringing the real interest rate to 4%, according to the finance ministry directive. This will benefit...

-The Times of India   Chief minister N Kiran Kumar Reddy on Sunday said farmer welfare topped the government's list of priorities and that agriculture would undoubtedly be given maximum impetus. Talking to officials about his government's newest initiatives on the eve of the state-level bankers' committee meeting at his camp office, the CM urged them to ensure that all welfare measures for farmers are implemented in a transparent manner. He made it...

-The Telegraph   RBI governor D. Subbarao has expressed concern over Bengal’s low credit-deposit ratio, which means that funds from the cash-starved state are actually meeting the borrowing needs elsewhere. The erstwhile Left government used to blame banks for the skewed ratio. But bankers have blamed it on the poor credit absorption capacity of rural Bengal because of fragmented land holdings — a fallout of the land reforms. After a meeting with chief minister...

Farmers are joining India Inc in mind, body and spirit. In a quiet revolution underway across the countryside, growers are setting up companies, replete with balance sheets, professional CEOs, board of directors, and income tax returns.  By pooling together the land and produce of their shareholders, these companies are signing lucrative deals with large retail chains, food companies and exporters keen to establish reliable supply chains. As many as 200 companies...