Media Monitor
Agriculture Industry
Sebi extends suspension of derivatives trade in 7 agriculture commodities for 1 yearedit
The Financial Express – Online
Capital markets regulator Sebi has extended the suspension of futures and options trading in seven agricultural commodities, including wheat and moong, for one more year till December 2023 in a bid to rein in prices. The other agricultural commodities suspended by Sebi are — paddy (non-basmati), chana, crude palm oil, mustard seeds and their derivatives and soya bean and its derivatives. “The suspension of trading in the above contracts has been extended for one more year beyond December 20, 2022, i.e. till December 20, 2023,” Sebi said in a statement on Wednesday. The suspension permits squaring up of existing positions in these commodities, but no fresh futures trading is permitted in them for a ...
Airport project will hit agriculture, rural economy, say farmers to TN govtedit
Business Standard – Online
Acquisition of land in their villages, for setting up a greenfield airport at Parandur, would lead to ‘destruction’ of agriculture and eliminate the region’s ‘self-reliant’ economy, farmers opposing the project in their backyard said in a representation to the Tamil Nadu government. The project area covers ‘bird migration routes’ and it is closer to INS Rajali Naval Air Station and hence not suitable for airport, they said. The flow of water of a natural water channel, that carries surplus flood waters to Kosasthalai river, would be prevented leading to inundation of 30 surrounding villages and ‘incalculable farm and economic losses’ considering flooding. The project would lead to complete displacement of people in five villages, including ...
Budget
Faltering rural economy needs budget focusedit
Mint – Online
The rural economy is distressed. Inflation has been pinching hard, and real wages have fallen—both resulting in sluggish spending. As the Centre readies its next Union Budget, economists say this problem needs urgent focus. During covid-19 lockdowns, rural areas were a silver lining, with agriculture extending support to India’s GDP. The government raised its spending under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) to create jobs for those who had returned from cities. Even as the overall economy recovered, rural India continued facing challenges. High inflation was a nationwide problem this year, but higher food prices made it even worse for rural India. Rural retail inflation exceeded the urban one for the entire year. ...
Budget 2023 | What food and agri businesses neededit
Moneycontrol – Online
India is an agrarian economy with agriculture and its allied sectors being the largest source of livelihood in the country. It is estimated that India can generate USD 813 billion in revenue with an investment of USD 272 billion in agritech and allied segments by 2030. The Indian agricultural sector is slowly shifting from traditional farming to horticulture and livestock production. The demand for fresh and processed food products is also increasing due to the rise in income levels, urbanisation and changing consumption habits. The government has announced several policies, schemes, and programmes, such as a Production Linked Incentive (PLI) scheme to boost the food processing sector, Krishi UDAN 2.0 scheme for facilitating and incentivising movement ...
Govt. Policies
Karnataka government tables bill to ease process of converting agricultural landedit
The Indian Express – Online
The Karnataka government has tabled a bill in the ongoing winter session of the legislature to ease the process of diverting agricultural land for other purposes. The amendments proposed in The Karnataka Land Revenue (Second Amendment) Bill, 2022, will allow landowners to convert agricultural land to commercial or other purposes by filing an affidavit with the deputy commissioner of the district. “If any occupant of a land assessed or held for the purpose of agriculture wishes to divert such land or any part thereof to any other purpose, he shall submit an affidavit along with an application to the deputy commissioner in the manner as may be prescribed…,” the bill, tabled Tuesday, read. The ...
Paddy in India
Paddy procurement at MSP reaches 4.47 mn tonnes in Telangana till Dec 14edit
Business Standard – Online
Paddy procurement at the minimum support price reached 44.72 lakh tonne in Telangana till December 14 of the 2022-23 kharif marketing season, Parliament was informed on Wednesday. In Telangana, procurement of paddy is undertaken by the state government through its agencies and only the surplus rice after meeting the state’s requirement is delivered to Food Corporation of India (FCI) in central pool for movement to deficit/consuming states. “Up to December 14, 2022, 44.72 lakh tonne of paddy with MSP (Minimum Support Price) value of Rs 92,12.63 crore has been procured in Telangana against the estimate of 74.62 lakh tonne,” Minister of State for Food and Consumer Affairs Sadhvi Niranjan Jyoti said in a written reply ...