Today, not only does the White Revolution’s contribution to farm incomes surpass that of the Green Revolution, but every fifth rupee generated in the farm sector — which includes the total output value of crops livestock produce and fisheries — comes from milk.
Diwali is an ode to happiness, hope and homecoming, but it’s also a prayer for wealth and well-being. In this special issue, we look at the centrality of finance in our lives. But, first, a brief history of money.
The focus of worry has, instead, now shifted to Madhya Pradesh. Both west and east MP had received good first-half monsoon rainfall — 4.3 per cent above LPA for the former and only 2 per cent below for the latter.
The current rules mandate every meat export consignment to be subjected to microbiological tests, with a health certificate issued by a veterinary doctor from the concerned state animal husbandry department.
Some remarkable similarities exist between the current economic situation and the one that prevailed in the years when the first NDA government under Vajpayee was in power. What stand out more today, however, are the seeming paradoxes in market and investor behaviours, and in trends of slowing growth and the strengthening rupee. How are they to be explained?
Although the country as a whole received four per cent and 1.7 per cent above-average rainfall in June and July, respectively, the Deep South belt — covering much of Karnataka, Tamil Nadu and Kerala — experienced a dry spell, coming on top of last year’s drought/near-drought conditions.
Sexed semen technology is about preselecting the sex of offspring by sorting or separating the X-sperms from Y-sperms. The aim is to deliver freedom from male calves, by ensuring that cows are inseminated by semen containing only X-chromosome-bearing sperms.
The woes of pulses farmers and traders like Kagi can be put down to all-time-high imports of 6.6 mt (valued at Rs 28,524.05 crore) on top of a record domestic production of 22.4 mt in 2016-17 — made worse by the weak, behind-the-curve policy response whether to do with trade or stockholding restrictions.
In just over a month, retail prices of tomato have gone from about Rs 20 per kg to Rs 70 per kg (all-India modal average as per Department of Consumer Affairs data), after staying at Rs 10-12/kg through May and early June. Why has this happened?
For farmers, a uniform 2 per cent premium rate on sum insured (SI) for all kharif or monsoon season foodgrains and oilseeds, while 1.5 per cent for rabi winter crops and 5 per cent for annual commercial and horticultural crops, is the lowest they can hope for.
In 2016, south interior Karnataka recorded 22 per cent deficit rainfall during the southwest monsoon season (June-September). Reservoir levels in the Cauvery basin have fallen lower with back-to-back monsoon failure and Karnataka is headed to Assembly elections in barely eight months.
The consecutive monsoon failures have led to an almost continuous decline in both sugarcane crushed and sugar produced by Tamil Nadu mills. Between 2011-12 and 2016-17, the quantity of cane crushed has plunged with sugar output also more than halving.
MRP paid by farmers in India for DAP (exclusive of taxes) has remained practically flat at Rs 20,000 per tonne. It actually rose as high as Rs 26,500 per tonne in 2012-13 and hovered around Rs 24,000-25,000 in the next three years, before settling at current Rs 20,500 levels.
Phosphoric acid and ammonia — which are the sources of phosphorus (P) and nitrogen (N), respectively, for manufacture of DAP and NP/NPK complexes — attract 18 per cent duty under the GST rate schedule.
Speaking to The Indian Express, a top government official admitted, “It is a sensitive issue, more so when the decision (to go for 100 per cent neem-coating for domestically produced and imported urea) came right from the top.”
The M S Swaminathan committee’s widely disseminated recommendation, to fix MSP at levels “at least 50 per cent more than the weighted average cost of production”, remains a holy grail or partial reality at best.