Economic package stimulus : Tranche 3*: (Agriculture and allied activity).
*Economic package stimulus : Tranche 3*:
(Agriculture and allied activity).
May 15, 2020
• The stimulus packages announced by the government so far to mitigate the economic impact of COVID-19 will dent the fiscal deficit by 0.6 percent of the GDP or Rs 1.29 lakh crore in the ongoing financial year, said a report by State Bank of India.
With the announcement of an economic package focussing vulnerable sections of the society on Thursday, the government has so far provided a stimulus totalling Rs 16.45 lakh crore.
This implies that the remaining nearly Rs 3.54 lakh crore of the Rs 20 lakh crore package announced by Prime Minister Narendra Modi on May 12 is yet to be announced.
• Today the third tranche of announcements is for agriculture and allied activities - fisheries, animal husbandry, dairy, etc. A large amount of the population engaged in agriculture activities. Small and medium farmers against all adversities have endured.
• During lockdown provisions were made to conclude Rabi crop harvest and some states have gone ahead largely with procurement process while observing social distancing. Agricultural work was supported during the two months of lockdown.
• Today will announce a total of 11 measures. Of these 8 will be aimed at building better capacities and allocation for ramping up storage and logistics. The remaining 3 are governance and administrative reforms.
• Rs 1 lakh crore Agri Infrastructure Fund for farm-gate infrastructure for farmers. Financing facility of Rs. 1,00,000 crore will be provided for funding Agriculture Infrastructure Projects at farm-gate & aggregation points (Primary Agricultural Cooperative Societies, Farmers Producer Organisations. Agriculture entrepreneurs, Start ups, etc.) of farmgate & aggregation point. Impetus for development affordable and financially viable Post Harvest Management
infrastructure will be given.
• Rs 10,000 crore fund for micro food enterprises (MFEs) in cluster-based approach. Vocal for global can build brands and therefore marketing them globally will be included. Branding, modernising and capacity ramp-up will be part. This will will benefit 2 lakh MFEs. Focus will be on women, ST/SCs. Will look at regional clusters.
• Logistics capacities under PMMSY for activities related to marine and inland fisheries. Provide employment to 55 lakh in the sector. Expected to contribute Rs 1 lakh crore to India's exports. Will help in better standards, new fishing vessels, harbours, insurance for person and boats. Will lead to additional 70 lakh tonnes over the next 5 years. It is to empower people to make a livelihood for themselves. Making sure India is helped to stand on its own.
• Fourth item is National Animal Disease Programme with total outlay of Rs 13,343 crore. Will ensure 100% vaccination for cattle, buffalo, sheep and pigs against foot and mouth disease (FMD).
• Animal Husbandry Infrastructure Development Fund of Rs 15,000 crore. It will give incentives for establishing plants for export of niche products.
• Rs 4,000 crore allocated for promotion of herbal cultivation. Will generate income of Rs 5,000 crore for local farmers engaged in this cultivation. National Medicinal Plant Board will undertake 800 hectares of areas in the corridors of river Ganga for growing of herbal and medical plants.
• Rs 500 crore for bee keeping initiatives. Will increase income for around 2 lakh bee keepers, Scheme will include infrastructure, capacity building, marketing and export support.
• Last in list of 8 - 'TOP' to Total Rs 500 crore in existing scheme. Pilot extended for next six months and will be expanded further. TOP is tomato, onion and potatoes, this will now be extended to other vegetables to tackle supply chain issues, especially perishable fruits and vegetables. Scheme will provide 50% subsidy for transportation and 50% subsidy for storage (including cold storage included).
*Governance and Administrative reforms*
1) Special amendments to Essential Commodities Act - move to enable farmers with prices.
• Several food stuff to be deregulated.
• No stock limit for food processors unless in extreme circumstances.
2) New Central Law : Farmers to be given choice of marketing. They can sell their produce to anyone.
3) Legal frame work to give assured price returns for farmers to give price certainty.
(Agriculture and allied activity).
May 15, 2020
• The stimulus packages announced by the government so far to mitigate the economic impact of COVID-19 will dent the fiscal deficit by 0.6 percent of the GDP or Rs 1.29 lakh crore in the ongoing financial year, said a report by State Bank of India.
With the announcement of an economic package focussing vulnerable sections of the society on Thursday, the government has so far provided a stimulus totalling Rs 16.45 lakh crore.
This implies that the remaining nearly Rs 3.54 lakh crore of the Rs 20 lakh crore package announced by Prime Minister Narendra Modi on May 12 is yet to be announced.
• Today the third tranche of announcements is for agriculture and allied activities - fisheries, animal husbandry, dairy, etc. A large amount of the population engaged in agriculture activities. Small and medium farmers against all adversities have endured.
• During lockdown provisions were made to conclude Rabi crop harvest and some states have gone ahead largely with procurement process while observing social distancing. Agricultural work was supported during the two months of lockdown.
• Today will announce a total of 11 measures. Of these 8 will be aimed at building better capacities and allocation for ramping up storage and logistics. The remaining 3 are governance and administrative reforms.
• Rs 1 lakh crore Agri Infrastructure Fund for farm-gate infrastructure for farmers. Financing facility of Rs. 1,00,000 crore will be provided for funding Agriculture Infrastructure Projects at farm-gate & aggregation points (Primary Agricultural Cooperative Societies, Farmers Producer Organisations. Agriculture entrepreneurs, Start ups, etc.) of farmgate & aggregation point. Impetus for development affordable and financially viable Post Harvest Management
infrastructure will be given.
• Rs 10,000 crore fund for micro food enterprises (MFEs) in cluster-based approach. Vocal for global can build brands and therefore marketing them globally will be included. Branding, modernising and capacity ramp-up will be part. This will will benefit 2 lakh MFEs. Focus will be on women, ST/SCs. Will look at regional clusters.
• Logistics capacities under PMMSY for activities related to marine and inland fisheries. Provide employment to 55 lakh in the sector. Expected to contribute Rs 1 lakh crore to India's exports. Will help in better standards, new fishing vessels, harbours, insurance for person and boats. Will lead to additional 70 lakh tonnes over the next 5 years. It is to empower people to make a livelihood for themselves. Making sure India is helped to stand on its own.
• Fourth item is National Animal Disease Programme with total outlay of Rs 13,343 crore. Will ensure 100% vaccination for cattle, buffalo, sheep and pigs against foot and mouth disease (FMD).
• Animal Husbandry Infrastructure Development Fund of Rs 15,000 crore. It will give incentives for establishing plants for export of niche products.
• Rs 4,000 crore allocated for promotion of herbal cultivation. Will generate income of Rs 5,000 crore for local farmers engaged in this cultivation. National Medicinal Plant Board will undertake 800 hectares of areas in the corridors of river Ganga for growing of herbal and medical plants.
• Rs 500 crore for bee keeping initiatives. Will increase income for around 2 lakh bee keepers, Scheme will include infrastructure, capacity building, marketing and export support.
• Last in list of 8 - 'TOP' to Total Rs 500 crore in existing scheme. Pilot extended for next six months and will be expanded further. TOP is tomato, onion and potatoes, this will now be extended to other vegetables to tackle supply chain issues, especially perishable fruits and vegetables. Scheme will provide 50% subsidy for transportation and 50% subsidy for storage (including cold storage included).
*Governance and Administrative reforms*
1) Special amendments to Essential Commodities Act - move to enable farmers with prices.
• Several food stuff to be deregulated.
• No stock limit for food processors unless in extreme circumstances.
2) New Central Law : Farmers to be given choice of marketing. They can sell their produce to anyone.
3) Legal frame work to give assured price returns for farmers to give price certainty.
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