Weekly Wrap – Recovery on the horizon, but a long haul to heaven

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The International Monetary Fund (IMF) revised down its 2020 forecast for the Asian economy to a contraction of 2.2 percent, calling it “the worst outcome for this region in living memory.” The latest forecast is a downgrade compared with the projection of a 1.6-percent contraction in June. India’s economy experienced a much sharper than expected […]

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India procures 9.81 million tonnes of paddy at MSP for Rs 18,540 crore

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State-owned Food Corporation of India (FCI) and state procurement agencies have bought 98.19 lakh tonnes of paddy for Rs 18,540 crore. “Paddy procurement for Kharif 2020-21 is progressing at a fast pace in the procuring states/UTs of Punjab, Haryana, UP, TN, Uttarakhand, Chandigarh, J&K and Kerala with purchase of over 98.19 lakh tonnes of paddy up […]

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Export of essential agri commodities increases by 43.4% during April-September, 2020

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Despite of the on-going Covid-19 crisis, the export of essential agri commodities for the cumulative period of April-September, 2020 has increased by 43.4 per cent to Rs 53626.6 crore as compared to Rs 37397.3 crore in the same period last year. Major commodity groups which have recorded positive export growth during April-Sept, 2020-21 vis-à-vis April-Sept, […]

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India follows USDA warning; alerts states about unsolicited seed parcels

Fearing a new kind of germ warfare, Indian government has alerted state governments, agriculture universities, seed associations, certification agencies and research institutes under Indian Council of Agricultural Research (ICAR) to remain vigilant as unsolicited seeds reaching the country via courier. The government is perceiving a new threat of foreign seeds harming India’s food chain and […]

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Bharat will help nurture India back to economic health earlier than consensus forecast: HDFC Chairman

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India’s economic recovery will be boosted by the rural sector, said Housing Development Finance Corporation (HDFC) chairman Deepak Parekh at the company 43rd annual general meeting (AGM).  A macroeconomic recovery in India will be subject to the end of lengthy and complete lockdowns even as some signs of improvement are already visible, he added. “My view […]

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India sets up a committee to implement “One Cluster, One District” for agriculture sector

The government of India will soon form a committee to implement “one cluster, one district” scheme aimed at encouraging farmers to adopt the most suitable crop in their district that will help them realise better prices with increased scale. The committee, with representation from other related departments, will closely work with states to ensure all […]

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Institutional mechanism must for creating a robust agri-value chain management, says expert

India’s National Rainfed Area Authority (NRAA), said the country needs to build up an institutional mechanism both at the federal and state levels to utilise the funds allocated to the agriculture sector so that a robust and integrated agri-value chain can be created. Speaking at the FICCI webinar on ‘Positive Implications of Atmanirbhar Bharat Package on Agriculture Sector’,  “Atmanirbhar (Self-reliant) […]

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Over production of rice and wheat is hurting Indian economy: Nitin Gadkari

Just a day after Union agriculture Minister, Narendra Singh Tomar gave a thumbs up to Indian farmers for increasing their yield and production during the lockdown, the Minister for Shipping, Road Transport and Highways, Nitin Gadkari bemoaned the lack of storage for the country’s surplus production of rice and wheat. “In the agriculture area, we […]

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India gives thumbs up to farmers for bumper bumper yield during COVID-19

Narendra Singh Tomar, Minister of Agriculture & Farmers Welfare, Rural Development & Panchayati Raj, said that the agriculture sector has performed well even during the lockdown due to COVID-19 and the farmers have been able to provide a bumper and quality yield to the country. Addressing a FICCI webinar on “Impact and Implications of COVID19 on Agrochemicals […]

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