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Demonetisation: Farmers can withdraw Rs 25,000

They need the cash because they are harvesting one crop and preparing to plant the next. What they need the money for: Source: The ET...

Last Updated: Friday, 18th November, 2016 05:47 PM Visits 187

Government announces measures to ease cash crunch for farmers

NEW DELHI: With cash crunch following demonetisation impacting agri sector, the government today eased guidelines for farmers by allowing them to withdraw up to Rs 50,000 cash per week from bank.   Besides, it has also extended the deadline for payment of crop insurance premium by 15 days and permitted APMC-registered traders to withdraw up to Rs 50,000 per week.   This steps will ensure that sowing takes place adequately in the Rabi season and enough cash is available to the farmers to buy fertiliser, seeds and other inputs, Economic Affairs Secretary Shaktikanta Das told reporters here.   "The government has decided to permit...

Last Updated: Thursday, 17th November, 2016 05:45 PM Visits 171

Green signal for farmers: Rabi crops see spike in support price

NEW DELHI: The government has announced a big increase in support prices for most rabi crops and given a strong signal to plant more oilseeds and pulses for which official agencies will pay 10- 16% higher rates than last year, a move officials said would boost farm incomes significantly.   It also approved an increase of 6.6% in support price for wheat, which is higher than last year’s increase of 5.2%. It raised the price of lentil (masur) by 16.2%, against 8% last year, to encourage higher sowing of the crop after a year of scarcity and soaring prices.   This will reduce...

Last Updated: Wednesday, 16th November, 2016 05:44 PM Visits 291

Govt hikes wheat MSP by Rs 100/qtl; pulses by up to 550/qtl

NEW DELHI: The government today increased the minimum support price (MSP) of wheat by Rs 100 to Rs 1,625 a quintal and pulses by up to Rs 550 per quintal to boost output of these rabi crops and check prices.   The Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister Narendra Modi, has given its approval for the Minimum Support Prices (MSPs) for all rabi (winter- sown) crops of 2016-17.   The CCEA has approved Rs 100 per quintal hike in wheat MSP to Rs 1,625 per quintal for the 2016-17 rabi crop against Rs 1,525 per quintal last year....

Last Updated: Tuesday, 15th November, 2016 05:26 PM Visits 143

Demonetisation: Kharif farmers hit hard after RBI forbids DCC banks from accepting old notes

MUMBAI: An RBI circular banning District Central Co-operative banks from accepting old currency has hit Kharif farmers in Maharashtra, who were looking to pay off their crop loan dues with the now-defunct notes, thus affecting recovery worth Rs 12,000 crore across the state.   The farmers who have started selling their Kharif produce are mostly paid in cash by wholesale traders. Now, the amount with farmers (mostly in denominations of Rs 1,000 and Rs 500) is rendered useless for crop loan payments.   "There are 31 District Central Co-operative (DCC) banks that have a huge network in rural areas (of Maharashtra) and are...

Last Updated: Tuesday, 15th November, 2016 05:25 PM Visits 146

Notes Ban: Farmers suffer, commodity prices weaken

NEW DELHI |PUNE |CHANDIGARH: Agriculture commodity prices have weakened significantly after the demonetisation of 500 and 1,000-rupee notes, as farmers took the brunt of the sudden government move to check black money. Traders and companies expect the downward trend in the agriculture market to continue in the short term as the harvest season is on and the country is looking at a record kharif crop.   Farmers were among the worst affected as they had to either accept the demonetised notes or delayed payment on their produce, a double whammy coming on top of the price fall.   Many farmers who planned to...

Last Updated: Friday, 11th November, 2016 10:51 AM Visits 168

Government pegs 2016-17 sugar output at 22.52 MT; down 10.27 per cent

NEW DELHI: Sugar production in India, the world's second largest producer after Brazil, is estimated to decline by 10.27 per cent to 22.52 million tonnes in ongoing season, but stock availability will be sufficient to meet the domestic demand, Food Minister Ram Vilas Paswan said today.   The country's sugar production had declined to 25.1 million tonnes in the 2015-16 season (October-September) due to drought in major growing states. Paswan today reviewed prices and availability of sugar in the country in a meeting with senior officials of his ministry. After the meeting, the Minister said, "The production of sugar has been estimated...

Last Updated: Thursday, 10th November, 2016 10:50 AM Visits 143

West Bengal government comes up with new type of rice, 'Muktoshri'

KOLKATA: West Bengal government’s riceresearch centre has come up with a new variety of rice called Muktoshri that can be grown in arsenic prone areas. There are 81 arsenic affected blocks in the state. The cultivation of the new variety of rice will take 125 to 130 days.   Some other new varieties of rice have also been prepared by the Chinsurah and Bankura rice research centres. It includes Gosaba I and Chinsurah Nona-II varieties for the soil with high level of salinity. Most importantly, Satabdi variety has been replaced with Ajit, which is also used for short-term cultivation and it takes...

Last Updated: Thursday, 10th November, 2016 10:50 AM Visits 212