The finance ministry has asked public sector banks to devise products for Indian farmers to ensure they get adequate funding in emergencies. The government, the majority owner of such banks, wants them to roll out products such as emergency loans to farmers that will be linked to savings accounts, a weather index-based insurance product, and set up a credit guarantee fund that will aid farmers in the event of crop losses...
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Urea price decontrol will raise yields: U S Awasthi, Managing Director, IFFCO
-The Economic Times Fertiliser will continue to be a key input in the crop production system as there are no alternatives to meet nutritional requirement of crops. Post-Independence, a substantial increase in indigenous production and consumption of urea and a range of P and K fertilisers made the country self-reliant both in fertiliser and food grain production. But farm production is stagnant though fertiliser use has been rising. The bone of...
More »Agriculture Ministry may up cotton estimates to 35.2 mn bales for 2011-12
-PTI The Agriculture Ministry is likely to revise upwards the country's cotton production estimate by 3.5 per cent to a record 35.2 million bales for the current marketing year, a government official said. The ministry releases four advance estimates at different stages of crop growth. In its second advance estimate, cotton production was pegged at 34 million bales for the ongoing 2011-12 marketing year ending September. "The cotton production has slightly improved and...
More »Urea price decontrol: Small farmers will suffer the most, says T Haque, Former Chairman, CACP
-The Economic Times Decontrol of urea is likely to affect agricultural production adversely for several reasons. First, it will immediately push up prices of all nitrogenous fertilisers and reduce their usage, thereby lowering crop yields. Second, it may also lead to increase in the prices of DAP and other mixed fertilisers due to shift in demand in their favour. Urea decontrol may not result in more balanced use of N, P and...
More »Offset ban on cotton export by raising floor price by 10%: CACP-Nidhi Nath Srinivas
The government should immediately announce a 10% increase in the floor price of cotton and rice to protect farmer incomes if it imposes a ban on the export of these commodities, India's two most economically significant cash crops, according to the Commission of Agricultural Costs and Prices (CACP), a body which advises the government on the pricing policy for major farm produce. "Any ban on export is an implicit tax on...
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