Milk prices are expected to remain high this summer due to tight demand-supply balance and high Input costs, said Reserve Bank of India (RBI) Governor Shaktikanta Das at the first bi-monthly monetary policy of 2023 on Thursday. “Milk prices could remain firm due to high Input costs and seasonal factors,” said Das. The RBI’s observation comes a day after reports stated that the government was mulling import of dairy products this...
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Agriculture doesn’t get its due in budget - Kedar Vishnu, Ashish Andhale
Deccan Herald Many economists expected a massive allocation for the agricultural sector in the budget, especially after the repeal of three farm law bills. However, the agricultural sector allocation decreased drastically from Rs 1.33 lakh crore in the Union Budget 2022–23 to Rs 1.25 lakh crore in 2023–24. It received only 3.78 per cent of the total budget share in 2021–22; this was reduced to 3.36 per cent in 2022–23 and further...
More »Indian banks gave more home loans than agricultural credit
In each of the last three years – from 2020 through 2022 – Indian banks lent more money to retail customers purchasing homes than they did to farmers. In fiscal year (FY)2021-22 commercial banks gaveRs. 17.54 lakh crore worth of housing loans, while agriculture and allied activities got Rs. 15.16 lakh crore. That is nearly 14 percent less. In FY 2021 and FY 2020 – one of which saw a...
More »Haryana: 44,700 Metric Tonnes of Wheat Spoiled After Being Left in Open Plinth
-TheWire.in/ With PTI inputs The state government will recover costs of the spoiled procured wheat from officials. New Delhi: Haryana’s deputy chief minister Dushyant Chautala on Tuesday (November 15) said that 58.59 lakh metric tonnes of paddy have been procured in the state during the current season, far exceeding the target of 57 lakh MT. Chautala said that nearly 98% farmers have already received the payment amounting to Rs 11,819 crore directly into their...
More »A year of extreme weather events has weighed heavy on India’s agricultural sector -Vivek Gupta
-India.mongabay.com * After the drop in wheat production due to heat waves, extreme weather events have now cast a shadow on rice production, which is likely to drop beyond centre’s initial 6% loss estimate. * In six years (2015-21), the country lost 33.9 million hectares of the cropped area due to floods and excess rains and 35 million hectares due to drought, which are likely to intensify as various studies predict. * Centre...
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