STATE AGRICULTURE
Budget needs to think about farmers to help India get to developed economy goal
Budget Expectations for agriculture: The share of agriculture in India's economy has declined to less than 15%, yet it remains crucial due to rural dependence and food security. Budget measures aim to improve productivity through fertilizer subsidy allocation, crop diversification, expedited crop loss claims, fair prices for farmers, boosting pulse production, R&D, labor challenges, and focusing on low-yield Eastern states.
Construction of dams have turned Sutlej into rivulet: SC judge
Supreme Court judge Justice Sanjay Karol remarked that the construction of dams on the Sutlej River has drastically altered it, transforming the trans-Himalayan river into a mere rivulet and disrupting the entire ecosystem. He made these comments on Friday at the launch of a book titled "Climate Change: The Policy, Law and Practice" by lawyer Jatinder (Jay) Cheema. Justice Karol also emphasized the severe impacts of climate change on the country's agriculture sector.
APCNF of Andhra Pradesh, soil scientist Rattan Lal and Egypt’s SEKEM jointly win €1 million Gulbenkian Prize 2024
Andhra Pradesh Community Managed Natural Farming and soil scientist Rattan Lal are announced as joint winners of the €1 million Gulbenkian Prize for Humanity. Their sustainable agriculture approaches are recognized for promoting global food security and climate resilience.
Rajasthan Assembly allows minister Kirodi Lal Meena to skip budget session
Rajasthan Agriculture Minister Kirodi Lal Meena, who resigned from the Rajasthan cabinet, was granted permission by the Assembly to abstain from participating in the current session's proceedings. This came after voice vote by Speaker Vasudev Devnani due to his absence during the ongoing budget session and a recent cabinet meeting. Meena's resignation, linked to the BJP's poor Lok Sabha election performance in the state, has yet to be officially accepted.
Union Agri Minister Shivraj Singh Chouhan assures unwavering support to Bihar farmers to propel agricultural growth
Union agriculture minister Shivraj Singh Chouhan assured Bihar agriculture minister Mangal Pande of unwavering support for state farmers and advocated for synergistic efforts to boost agricultural growth. Chouhan committed to reviewing funding allocations under RKVY and National Food Security Mission to enhance Bihar's agricultural initiatives. The meeting also discussed the need for seamless seed supply and a comprehensive review of agriculture ministry schemes.
Budget 2024: Banks seek hike in interest subvention on farm loans
Banks are urging the government to increase the interest subvention on short-term agriculture loans from the current 1.5% to 2%. This move is aimed at helping banks absorb higher costs of funds and boost credit flow to the agriculture sector in the short term. Discussions on this matter took place recently with senior finance ministry officials.
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Don’t cry over onion prices: Here's how to mitigate seasonal price hikes
Dried onion is a win-win. It saves money, of course. It saves cooking time by at least 10%. No need to peel in sweltering heat. When cooked, dried onion is as good as fresh. Restaurants shift to dried onion when fresh onion prices increase. The economics of dried onion is so evident that restaurants can't ignore the savings.
Optiemus Infracom in talks with govt, cooperatives to deploy 6,000 drones next year
Optiemus Infracom plans to deploy up to 6,000 drones in India next year, aiming for a revenue of Rs 600-900 crore. Chairman Ashok Kumar Gupta aims to disrupt the market pricing by offering drones with a 10-litre payload capacity for Rs 2.25 lakh each. The company is in talks with the government and cooperatives, focusing on agriculture spray, with plans to invest Rs 140 crore in drone manufacturing.
Not politics, not interest rates: India's surging economy at risk from water
India is facing a growing water crisis, with the country's growing water stress potentially impacting its growth. The country's growing water stress could affect agricultural production and industrial operations, leading to food inflation and declines in income for affected businesses and workers, especially farmers. Contaminated water kills about 200,000 Indians each year, and the government is focusing on conserving the resource, recycling waste water, and reducing the country's over-reliance on the annual monsoon, especially in the agricultural sector.
Flood situation remains grim in Arunachal Pradesh, over 60,000 people affected
The flood situation in Arunachal Pradesh remains severe with major rivers above danger levels in four districts: Namsai, Lohit, Changlang, and East Siang. Landslides have also been reported across the state due to heavy rainfall. In Papum Pare district, a cloudburst triggered water release from the Pare Hydropower Project, prompting warnings to residents downstream. Bordumsa in Changlang district saw the Burha Dehing river overflow, damaging infrastructure and agriculture.
ESAF Small Finance Bank creates micro banking vertical with 5,200 staff
ESAF Small Finance Bank has absorbed 5,200 employees from ESAF Swasraya Multi-State Agro Co-operative Society Ltd (ESMACO) as part of a strategic business restructuring. The bank will now directly manage the microloan portfolio, which was previously managed by ESMACO through banking outlets. The micro banking vertical will primarily serve the needs of the rural population through micro-loans, agriculture loans, vehicle loans, and home loans.
The worrying changes in India’s monsoon patterns have implications for everything from agriculture to health
Take Maharashtra, 80% of which is rainfed. In areas such as Vidarbha and Marathwada, the onset of monsoon is now late. After a small pickup in July, there is a break in rainfall in August, lasting up to three-four weeks during the fruit formation phase. The wet spell starts again in September and continues well into October, when it should be dry. This isn't limited to Maharashtra. Several critical areas considered the breadbasket of India—Bihar, West Bengal and Uttar Pradesh—are witnessing the same pattern.
Farm loan waivers to negatively impact banks' asset quality: Macquarie
Macquarie Capital warned that farm loan waivers could negatively impact banks' asset quality, particularly for public sector banks. States like Telangana, Jharkhand, and Punjab are either implementing or considering such waivers. Macquarie's Suresh Ganapathy highlighted that these waivers create moral hazards and deteriorate credit culture, as even reliable farmers might start defaulting.
Government focus on agriculture, rural income to sustain tractor demand: Swaraj Engines
The government's agricultural focus in India, along with initiatives to boost rural incomes, is expected to sustain tractor demand despite a 7 per cent industry sales decline reported by Swaraj Engines Ltd. The company's annual report highlights opportunities in the horticultural segment and factors like increased affordability, demand for farm mechanisation, and government efforts to improve agriculture. Swaraj Engines foresees its engine business aligning with the industry's growth trajectory.
Retail inflations for farm, rural workers remain almost flat in May
Retail inflation for agricultural labourers and rural workers in India remained flat at 7.7% and 7.02% in May, respectively, compared to 7.03% and 6.96% a month ago. The point-on-point inflation rate for CPI-AL was recorded at 7.0% in May 2024, while for CPI-RL, it was at 7.02%. The main items driving the indices were vegetables, pulses, wheat, onion, milk, turmeric, ginger, fish fresh, jowar, pan leaf, medicines, shirting cloth, saree, and leather chappal.
After electoral setback, Modi may be forced to amend India's food policy
Facing policy challenges after recent election losses, Indian Prime Minister Narendra Modi grapples with controlling food inflation without angering farmers through export curbs and increased imports. With crucial provincial elections looming, Modi must balance economic measures and farmer interests to maintain political stability and address rural discontent.
MHT CET 2024 Result to be out today; Here's how to check and other details
The Maharashtra Common Entrance Test (CET) Cell is set to announce the Maharashtra Common Entrance Test (MHT CET) 2024 results for both PCM and PCB streams today, June 16. Candidates can check their results on the official website and download their scorecards. The results will facilitate admission to engineering and other courses for qualified candidates.
PM Kisan 17th installment amount to be released to eligible beneficiaries; How to check beneficiary status online
PM Kisan 17th installment: The Prime Minister has released the 17th installment of the PM Kisan benefit of around Rs 20, 000 crore which will reach 9.3 crore farmers.
Shekhawat thanks Modi for including him in Council of Ministers for third time
BJP leader Gajendra Singh Shekhawat expressed gratitude to Prime Minister Narendra Modi for including him in the Council of Ministers for a third term. As Modi prepares to take the oath for his third consecutive term, Shekhawat, previously a Union Minister, pledged to work diligently under Modi's leadership to meet the nation's expectations.
Haryana govt removes age limit cap on scheme for farmers, farm labourers
The Haryana government has removed the age limit cap on the 'Mukhyamantri Kisan Evam Khetihar Mazdoor Jeevan Suraksha Yojana,' extending benefits to children under 10 and individuals over 65. Financial aid of Rs 37,500 to Rs 5 lakh will now be available for farmers, agriculture laborers, and market yard workers in case of death or disability while operating agricultural machinery. The decision was taken during a meeting chaired by Chief Minister Nayab Singh Saini.
SBI and Muthoot Microfin join forces to support women entrepreneurs
Muthoot Microfin partners with State Bank of India to provide financial services to women in rural and semi-urban areas. The co-lending initiative targets joint liability groups involved in agriculture and other income-generating activities, offering loans ranging from Rs 10,000 to Rs 3 lakh.
The show must go on: Push agriculture, make states fiscally responsible, avoid the middle income trap & stick to the PoA
The Indian electorate has defied predictions of certainty, but the economic agenda for India remains unchanged. Despite impressive economic progress since 1991, India remains a low-middle-income economy. Policy priorities include urban expansion, modernization of agriculture, tackling unemployment, and addressing state-level disparities. Additionally, India must prepare for challenges such as aging populations and technological advancements to sustain growth.
Cucumbers across 14 US states recalled due to possible contamination
Whole, fresh cucumbers have been recalled by a Florida-based producer as they may be contaminated with salmonella, a gram-negative bacteria, that can cause severe diseases.
Cooperation Minister reviews progress of pilot grain storage projects launched in 11 states
The National Level Coordination Committee (NLCC) chaired by Ashish Kumar Bhutani reviewed India's grain storage project progress initiated by the Ministry of Cooperation.
Will BJP win? This market awaits June 4 results for potential shakeups in India's trade policies & global food prices
India's agricultural markets are under scrutiny as a new government prepares to take office, potentially impacting global food prices. Prime Minister Modi's policies aimed at ensuring domestic supplies have influenced key crop exports. Changes post-election could affect rice, wheat, and sugar markets, with industry leaders seeking policy shifts to address supply and demand challenges.
Cyclone Remal floods Manipur, state govt declares two-day holiday till May 31
Continuous rainfall due to cyclone Remal caused flooding in Manipur. The state government has launched rescue operations and declared a two-day public holiday. Departments handling essential services will remain operational. Fishermen assisted in evacuating flood-affected people. NDRF personnel and additional resources have been deployed for rescue efforts. Landslides and road disruptions have also been reported in different districts.
TS EAPCET 2024: TSCHE releases answer keys. Check how to download and direct link
Telangana State Council of Higher Education (TSCHE) released TS EAPCET 2024 exam answer keys. Candidates can download from eapcet.tsche.ac.in. Objection and challenge windows available. Revised exam dates and exam pattern details provided.
Non-life insurance companies post 13% rise in premium collection at Rs 2.89 lakh cr in FY24
In the fiscal year 2023-24, 42 general insurance companies collectively earned a premium income of Rs 2,89,738 crore, marking a 13% increase from the previous year's Rs 2,56,894 crore, as reported by the General Insurance Council. Among these, 35 general insurance firms saw a 14% rise in premium income to Rs 2,45,433 crore from Rs 2,14,833 crore in the preceding year. Additionally, five standalone health insurers witnessed a 26% growth in premium income, reaching Rs 33,116 crore compared to Rs 26,244 crore in the previous year.
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