Oilseeds and sugarcane saw the increase while rice, pulses, coarse cereals and cotton saw the decline. Meanwhile, data from the weather department shows monsoon rainfall has been 9% below normal so far this year.
They, however, said if the government increases the per unit subsidy for fertiliser companies, the price impact on farmers will be less
Production of rice, sugarcane and oilseed is expected to be higher than last year, show the first advance estimate of the agriculture ministry, released on Wednesday.
Another cabinet proposal to set up a non-banking financial company (NBFC) with an initial corpus of Rs 2,000 crore to meet credit needs of the food processing sector is expected to be taken up in the next week, she said.
In Punjab, paddy growing is preferred in low-lying areas to ensure additional availability of water but it has caused water logging in such areas.
To be sure, land acquisition is a big challenge for the government’s ambitious plan of constructing 100 lakh tonne capacity of silos across the country.
The government has set a target of completing 99 major and medium irrigation projects, spread across 18 states, in phases by December 2019.
The target is 0.53% higher than the initial forecast made in April, the agriculture ministry said on Tuesday.
A small group of farmers are earning as much as Rs 3 lakh per acre by growing herbs and aromatic plants.
The report said that even as India has a strong vegetarian culture, but projections estimate that India’s meat consumption (mainly chicken and fish at 63%) will rise to 9 kg by 2050, from a base of 3 kg.
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