First, the uncertainty in agriculture sector with drought in many States. Again, industry is uncertain about the path of interest rates in the case of poor agriculture output. The poor health of the banking system has also infused uncertainly in the minds of borrowers and lenders. The rising prices of petroleum goods in the international market could imply rising inflation.
Targeted incentives need to be given for the cultivation of speciality corn such as baby corn, popcorn, sweet corn and multigrain flour to meet rising demand, Agriculture Minister Radha Mohan Singh said.
This will be a significant fillip from the projected gross value addition of 1.1 per cent in the agriculture sector in 2015-16. A clearer picture of farm sector growth will be available on May 31, when the Central Statistics Office releases the fourth quarter growth estimates as well as the provisional annual estimates for 2015-16.
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The recently launched e-NAM (National Agriculture Market) is targeted to be rolled out in 200 mandis across the nation on September 30, 2016. In recent years, the country has seen rising efforts by the government and private companies to unify agricultural markets.
Prime Minister Narendra Modi on Thursday sowed the seeds for a farming revolution, with the launch of e-NAM, an online portal for trading in agriculture produce, which promises to liberate farmers from the clutches of middle-men and realise fair market value for their yields.
In a relief to the beleaguered coffee, tea and rubber growers in Karnataka, the State government has proposed to abolish the agriculture income tax with effect from April 1, 2016.
The Vice President, M Hamid Ansari wants a “Grow in India” programme to transform the socio-economic fabric of the agricultural sector. Delivering the keynote address at the National Seminar on ‘Public Investment and Subsidies on Agricultural Inputs and the Upliftment of Agrarian Economy’, organized by the All India Kisan Sabha here on Saturday, Ansari said the government needs to take bold steps to translate the good intentions into action to tackle the deficiencies in farming.