Media Monitor
Agriculture Industry
“Basmati Rice Sales to Exceed Rs 50,000 crore in FY2023,” says CRISILedit
Krishi Jagran – Online
Basmati rice sales are expected to fall by 5-7% next fiscal year as basmati rice realisation softens due to an increase in paddy acreage, resulting in increased supply. Volume demand is expected to remain consistent at 6.8 million tonne, as per CRISIL. Higher realization will improve operating profitability by 100-125 basis points (bps) this fiscal year, while the absence of capex and increased cash accrual will keep credit risk profiles stable. Exports, which account for 64% of basmati sales by volume, are expected to grow 11% year on year to 4.4 million tonne this fiscal, owing to strong demand from key markets such as the Middle East and the United States. In the first nine ...
A new agricultural revolution has started. Congress must invest now to secure the future of U.S. foodedit
Fortune India – Online
Historic flooding in Pakistan. Droughts across the American West. Russia’s invasion of Ukraine. The global food system and the supply chains that have long allowed us to move food from where it is grown to where it is needed have rarely been stretched so thin, or so far. The consequences can be seen in the cost and availability of food in most parts of the world, including in the United States. Americans’ growing demand for fresh produce will only accelerate our reliance on an increasingly fragile food system.
Budget
Rajasthan Budget 2023: CM Ashok Gehlot announces Budget; Key highlightsedit
The Economic Times – Online
Rajasthan Chief Minister Ashok Gehlot, who also holds the finance portfolio, on Friday tabled the state Budget for 2023-24. The finalisation of the Budget document was done in the presence of secretary finance (Revenue) Krishna Kant Pathak, additional chief secretary finance Akhil Arora, Secretary Finance (Budget) Rohit Gupta, Secretary Finance (Expenditure) Naresh Kumar Thakral, and Director (Budget) Brajesh Sharma.
Farmers Demand Increased Support for Agriculture Sector in Union Budget in Andhra Pradeshedit
Krishi Jagran – Online
A group of farmers in Andhra Pradesh, calling themselves Samyukta Kisan Morcha (SKM), recently staged a demonstration to draw attention to the issues facing the agriculture sector and to urge the Union Finance Minister, Nirmala Sitharaman, to increase the allocation for the sector in the Union Budget. The farmers were led by SKM Prakasam district convenor Ch. Ranga Rao, who spoke about the importance of increasing subsidies for food, fertilizer, and petroleum products. According to Rao, the current crisis in the agriculture sector requires more support from the government, and the subsidies for these items should be increased to at least ₹5 lakh crore.
Govt. Policies
Govt slashes wheat reserve price to reduce flour priceedit
The Economic Times – Online
To reduce the price of wheat and atta, the Department of Food & PD, in consultation with Ministry of Finance on Friday decided that the reserve price for sale of wheat under OMSS will be Rs 2350/Qtl (Pan India) for FAQ and Rs. 2300/Qtl (Pan India) for URS wheat of all crops including RMS 2023-24 without adding any transportation cost component. The ministry stated that this is to help the supply of wheat to general public in different part of the country at a reasonable price.
Stubble Burning
12,900 Kurukshetra farmers to get Rs 11cr incentive for not burning stubbleedit
Tribune – Online
The claims of over 12,900 farmers who had sought incentive for not burning paddy residue in the district have been approved by the District Level Committee, and the farmers will get over Rs 11.21 crore in this regard. As per the Agriculture Department, of the total approved claims, 2,039 farmers have been provided the incentive money of around Rs 2 crore so far. The government has allotted Rs 5.5 crore, which will be used to settle the claims of around 6,400 farmers, while more budget has been sought to settle the claims of the remaining farmers.