Media Monitor
Agriculture Industry
Nomura: Growth in grain production may be loweredit
Growth In Food grain production is expected to be much lower this year in the country as less progress has been made in the sowing of summer (kharif) crops than last year, says a Nomura report. According to the Japanese financial services major, the land area sown has fallen across all other crops: rice, pulses, coarse cereals, oilseeds and jute.
Maharashtra’s farm output is set to dry up as rain stays awayedit
According to primary estimates collated by the agriculture department, although the sown area is equal to that sown last year or the average of the past five years, production and productivity is estimated to drop significantly. Around 148.14 lakh hectares of land was sown this year compared to the five-year average of 149 lakh hectares. But production from various crops is expected to drop to 882 lakh tonnes against the average of 1,042 lakh tonnes.
Here’s how 6% below monsoon is affecting the agricultural sectoredit
There is a lot buzzing in the agricultural space especially with the monsoon now showing 6 percent below normal till time. There is a bit of a concern that the markets, the agricultural sector, and overall is now getting in, in sense of the overall production and in sense of yields and productivity as well. In an interview to CNBC-TV18’s Manisha Gupta, Kunal Shah of Nirmal Bang Commodities, shared his views on the agricultural sowing numbers as well as the price movements. He also spoke about other commodities and currencies.
Farm loan waiver likely to swell inflation by 20 bps: RBI paperedit
Andhra Pradesh and Telangana had announced farm loan waiver in 2014; Tamil Nadu in 2016; and Uttar Pradesh, Maharashtra, Punjab and Karnataka in 2017. Earlier Uttar Pradesh said it will waive off loans of small and marginal farmers to the tune of Rs 36,000 crore, while Maharashtra and Karnataka have announced waiver of farm loans worth Rs 42,100 crore. Punjab has also said it will waive crop loans for small and marginal farmers, and has provided Rs 1,500 crore for the purpose in its budget for fiscal 2018.
CM for rainwater harvestingedit
He was reviewing contingency action plan to deal with situation arising from short rainfall after the Cabinet meeting. Presentations were made by Agriculture, Water Resources, Public Health Engineering, Animal Husbandry, Cooperatives and Urban Administration Departments regarding preparation for tackling short rainfall. It was informed that the Chief Minister and all members of the Cabinet will actively participate in awareness drive for stopping water from flowing away.
Bhopal: Chouhan asks CM’s fellows to come up with innovative ideasedit
Chouhan also quoted some mythological stories and advise them to work with positivity, patience and free from ego. He added that the government is sensitive towards the needs of the people. Projects like ‘Medhavi Chhatra Yojana’, ‘Ladli Laxmi’ are a boon for the society, said Chouhan. The agriculture development rate is 29.08 and the amount of irrigated land is 40 lakh hectares, he informed.
At least 10 lakh bank accounts of farmers are fake: Patiledit
Maharashtra Revenue Minister Chandrakant Patil today said at least 10 lakh bank accounts of farmers are fake and will not get any benefit of the loan waiver. The minister further claimed that most of these accounts were earlier opened by banks or credit societies for siphoning off the loan amount. When asked about the use of software for loan waiver assessment and farmers’ application, Patil said, “As per the previous assessment, some 89 lakh farmers were expected to benefit out of the loan waiver scheme.