Crop planting in the beginning of July was 26% lower than that a year ago, but the gap has now reduced to 6.4%. With continued heavy showers forecast for the next two weeks.
The exports of Basmati, however, have shown a healthy growth of 16 per cent.
Under the scheme that became operational on December 1, the Centre gives a cash benefit of Rs 6,000 to eligible farmers in three equal instalments to help them fund agricultural input costs.
The duty is 44-54 per cent on crude palm and refined palm oil imported from other countries.
Zero-budget farming is being promoted in several areas as a low-cost, natural alternative to prevalent practices of heavy use of chemical fertilisers and pesticides.
Agriculture minister Narendra Singh Tomar is hopeful of early recovery.
“Annadata can also be urjadata,” Nirmala Sitharaman had said in her budget speech.
The government has signed a pact with IT major IBM to provide weather forecast and soil moisture information at farm and village level using Artificial Intelligence and high-tech weather technology.
The infusion of capital will be in the form of equity and would not be divided in shares as FCI is established under a special Act of Parliament and does not come under the Companies Act.
A proposal in this regard was circulated in the agriculture and food ministry, he said.
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