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Wednesday / April 17. 2024

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HomePosts Tagged "Nirmala Sitharaman"
AgroPolicy, Finance, India

Nirmala Sitharaman, Union Finance Minister & Narendra Singh Tomar, Union Agriculture Minister and jointly unveiled KCC Ghar Ghar Abhiyaan, Kisan Rin Portal and WINDS manual.

In a landmark event, Union Finance Minister Nirmala Sitharaman & Union Agriculture Minister Narendra Singh Tomar unveiled initiatives focused on agri-credit (KCC & MISS) and crop insurance (PMFBY/RWBCIS). The Ministry of Agriculture & Farmers Welfare launched three initiatives, namely the Kisan Rin Portal (KRP), KCC Ghar Ghar Abhiyaan, an ambitious campaign aiming to extend the benefits of the Kisan Credit Card (KCC) Scheme to every farmer across the nation and a manual on Weather Information Network Data Systems (WINDS). These initiatives aim to revolutionize agriculture, enhance financial inclusion, optimize data utilization, and improve the lives of farmers across the nation.

Delivering keynote address on the occasion, Union Finance Minister Nirmala Sitharaman assured full cooperation of banks for success of Ghar Ghar KCC Abhiyan. She said that the government under Prime minister Narendra Modi has allocated enough money under KCC scheme to ensure easy short-term loans to farmers and their onboarding for the scheme. The finance minister commended Ministry of Agriculture for its initiatives and successful implementation of Pradhan Mantri Fasal Bima Yojana (PMFBY). She said that over 1,40,000 crores of insurance amount have been disbursed to farmers so far against a premium amount of Rs. 29,000 crores. She also appreciated real time estimation for rice and wheat crop output and called for the estimation to be extended to Dalhan and Tilhan crops so that better planning can be done for their imports, if needed. The finance minister said that real time estimation of crops will help the economy and ensure right prices for farmers at the end of crop season. Sitharaman also called for full automation of regional rural banks and cooperative banks and directed Department of Financial services to study the gap between loan sanction and loan disbursement for these banks.

Union Agriculture Minister Narendra Singh Tomar in his address highlighted the importance accorded to agriculture and rural economy under the current government. He informed that budget for Ministry of agriculture has increased from Rs. 23,000 crores in year 2013-14 to Rs. 1,25,000 crores in 2023-24. Talking of WINDS manual, the minister said the aim is to ensure real time weather information so that farmers can take right precaution for their crops at the right time. Shri Tomar said that use of technology and transparency is important for agriculture and this government has taken necessary steps in this regard.  The agriculture minister informed that there are around 9 crore beneficiaries under PM Kisan Samman Nidhi and the aim of KCC Ghar Ghar Abhiyaan is to connect around 1.5 crore beneficiaries who are not yet connected to KCC scheme. Tomar also thanked Ministry of Finance and banks for providing around 2 crore KCCs to farmers even during Corona pandemic. The minister asserted that it was agriculture and rural sector which kept the economy going even during the pandemic.

Nirmala Sitharaman, Union Finance Minister & Narendra

AgroPolicy, Horticulture, Supply Chain, Trade

The government is taking steps to control inflation and meet the demand and check the prices of tomatoes in India

Nirmala Sitharaman Finance Minister (FM) informed the Parliament that the government is importing tomatoes from Nepal due to a record-high spike in prices in the country.

The minister said that the government is taking steps to control inflation and meet the demand and check the prices of tomatoes in India, it has decided to import them from its neighbour, Nepal. Sitharaman was participating in a debate on the no-confidence motion in the Lok Sabha. As per her, the government has removed import restrictions and the first lot of tomatoes from Nepal will reach Varanasi, Kanpur, Lucknow this week.

Sitharaman also said that through the National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) and other cooperative societies, the government has been procuring tomatoes from Maharashtra and Karnataka. These tomatoes are then distributed in Delhi-NCR, Bihar, Uttar Pradesh, West Bengal and Rajasthan at subsidised rates. The National Cooperative Consumers’ Federation of India Ltd. has distributed 8.84 lakh kg of tomatoes in the aforementioned states. The finance minister added that the wholesale prices of tomatoes in Andhra Pradesh and Karnataka are already coming down.

Andhra Pradesh, Madhya Pradesh, Karnataka, Gujarat, Odisha, West Bengal, Maharashtra, Chhattisgarh, Bihar, Telangana, Uttar Pradesh, Haryana and Tamil Nadu are the major tomato-producing states in the country. These states account for 91 per cent of the total production of the country, said FM.

The government is taking steps to control

AgroPolicy, Foodgrains, Pulses, Sustainability

She also called for protecting the returns of farmers, who are already growing millet

Nirmala Sitharaman, Finance Minister directed National Bank for Agriculture and Rural Development (Nabard) to sensitise farmers to shift towards more remunerative but less water-guzzling crops, especially millets, pulses and oilseeds.

With the production and marketing of Shree Anna being a national priority in the International Year of Millets 2023, Sitharaman told Nabard to encourage farmers to enhance the area covered under millets.

She also called for protecting the returns of farmers, who are already growing millets.

At a review meeting of Nabard, the FM also advised the institution to work towards ensuring efficiency and outcomes at the ground level with improvement in rural income as the top priority, as mentioned in Nabard’s statement.

Sitharaman said that improving the digital capabilities of rural financial institutions, including regional rural banks (RRBs), be facilitated on a priority basis for augmenting financial inclusion.

“NABARD should take steps to augment rural credit by correcting regional imbalances for better productivity in rural areas, including in the non-farm sector,” she added.

She told Nabard to work towards rural income generation as a top priority.

The FM also chaired another meeting of the consultative committee attached to the finance ministry on ‘Financial Inclusion: Progress and prospects’, in Delhi.

There, Sitharaman suggested identifying credit-deficient districts in each state and carrying out special credit outreach camps in those districts.

She also called for protecting the returns

AgroPolicy, India, Sustainability

Lario shared IFAD’s vision for development with G20 leaders and argued that investing in rural communities is the most cost-effective way to improve global food security and support stability.

Alvaro Lario, President of the International Fund for Agricultural Development (IFAD), made a strong pitch for increased investment in small-scale farmers and rural communities at the G20 Agriculture Ministers’ meeting in Hyderabad, India, from 15-17 June. His call for greater investment in rural people echoes the recognition of G7 leaders that we urgently need more support for sustainable and resilient agriculture and food systems in response to a worsening global food crisis.

Lario shared IFAD’s vision for development with G20 leaders and argued that investing in rural communities is the most cost-effective way to improve global food security and support stability.

“Despite the fact that the multiple crises are staling global progress on eradicating poverty and hunger, we can still achieve our goals,” said Lario. “We know what works: climate-smart technologies, improved resilience, and commercially viable nature-based solutions are proven ways to build equitable, sustainable and inclusive food systems. But to realise this potential, we must invest in small-scale producers and boost the role of rural women and youth in value chains,” he added.

While in India, he also met Nirmala Sitharaman, Minister of Finance and Narendra Singh Tomar Minister of Agriculture. They discussed the reform of the financial architecture and the role of the global South in this process, as well as the importance of aggregation of food producers to achieve food system transformation in India. “India is a crucial and long-standing partner in our efforts to address hunger and poverty, empower rural women and build resilience to climate change,” said Lario. “I am confident that under India’s presidency, the G20 will develop a roadmap to feed a hungry planet sustainably and equitably.”

Earlier this year, G7 leaders identified IFAD as a key player for global food security, expressing support for the Fund’s action towards small-scale farmers to strengthen local food production, meet local and regional food demand, build markets and reduce food loss. Between 2019 and 2021, IFAD investments raised the incomes of 77.4 million rural people while improving food security for 57 million people.

Lario shared IFAD's vision for development with

AgroPolicy

Digital Public Infrastructure will help develop farmer-centric solution for crop planning

Nirmala Sitharman , Union Finance Minister announced in the Union budget2023 that Digital Public Infrastructure will be built that will help develop farmer-centric solution for crop planning and storage. A digital public infrastructure for agriculture will be built as open source, open standard and interoperable public good that will help develop farmer-centric solution for crop planning, the Minister said.

Finance minister also said, “An Agriculture Accelerator Fund will be set up to encourage agri-startups by young entrepreneurs. Agri accelerator fund will be set up to encourage agri startups in rural areas.”

Digital Public Infrastructure will help develop farmer-centric

AgroPolicy, Bee keeping

Govt allocates Rs 1500 Cr for the scheme

A new scheme, Prime Minister’s Development Initiative for North-East, PM-DevINE was announced by the Union Minister for Finance & Corporate Affairs, Nirmala Sitharaman while presenting the Union Budget 2022-23. The Finance Minister stated that the PM-DevINE will be implemented through the North-Eastern Council. An initial allocation of Rs 1,500 crore will be made for the new scheme.

The projects are nectar livelihood improvement project (Multi-State) and promoting scientific organic agriculture in North East India (Multi-State).

Govt allocates Rs 1500 Cr for the

AgroPolicy, Finance

A slew of measures is likely to benefit the sector

Finance Minister Nirmala Sitharaman while announcing the Budget 2022, gave a special emphasis on the agriculture sector. Sitharaman mentioned the government’s priority for farmers cultivating paddy, kharif and rabi crops under which 1,000 LMT Paddy is expected to be procured benefitting over 1 crore farmers.

Rs 2.37 lakh crores will be transferred to 163 lakh farmers as Minimum Support Price (MSP) for the procurement of paddy, wheat, rabi and kharif. Chemical-free, natural farming will be promoted across the country with a focus on farmers’ land in 5 km wide corridors along the river Ganga. She also mentioned branding millet products nationally and internationally.

The budget also mentioned the use of drone technology for farming activities. States will be encouraged to revise syllabi of agricultural universities to meet the need for natural, zero-budget and organic farming, modern-day agriculture.

Sitharaman also mentioned a fund with blended capital raised under co-investment model facilitated through NABARD to finance startups in agriculture & rural enterprises for farm produce value chain. Apart from these, finance startups to receive incentives to aid rural enterprises.

A slew of measures is likely to