Government may consider reducing import duty on wheat to curb rising prices, says FCI Chairman
Food Corporation of India (FCI) Chairman Ashok Meena told media persons that to bring down wheat prices, there are several options available and if need arises, then import duty on wheat may also be reduced. There is 40 per cent import duty on wheat currently.
Cabinet okays up to 10% hike in MSP of several commodities
Minister for Food and Consumer Affairs, Commerce and Textiles Piyush Goyal said that the government's top priority is to keep inflation in check and therefore, in recent times, it has increased procurement so that the common man does not feel the pinch while the entire burden of price rise is borne by the government.
Around 250 LMT of wheat procured during current Rabi season
According to estimates released by the Department of Food and Consumer Affairs, the current wheat procurement crossed last year's total procurement of 188 LMT. More than 20 lakh farmers have benefitted from the current season's procurement, with more than Rs 47,000 crore payment of minimum support price (MSP).
Approximately 11,000 MT of wheat procured in current Rabi season: FCI chief
Food Corporation of India (FCI) chairman Ashok Meena told media persons on Tuesday that wheat has been procured from Madhya Pradesh in Ujjain, Dewas, Indore, Shajapur and Sehore among others. It is also worthwhile to note that the total procurement last year during the month of March itself was around 10,000 metric tonnes only, whereas this year this figure has already been crossed on March 27, 2023, he informed further.
25,119 projects sanctioned by AIF, Rs 11,722 crore disbursed
AIF scheme benefits are being extended to all farmers of all types without any discrimination and Scheme benefits including 3 per cent interest subvention and the collateral free loans with free guarantee cover are intended to extend the benefits to small and marginal farmers among others. In fact, the other farmer groups like SHGs, FPOs and other collectives are also eligible under AIF which benefits the small and marginal farmers, said the reply.
Prices of cereals to be about 15% higher: CRISIL
The reason? Vagaries of climate change, strong global demand, and rise in domestic demand. Even in the current fiscal, cereal prices have risen significantly on-year in the first ten months. While prices of wheat and paddy rose 8-11 per cent, those of maize, jowar and bajra jumped 27-31 per cent, the report notes.
9.2 lakh metric tonnes of wheat sold through e-auction by FCI
In the first week of e-auction, quantities ranging from of 100 to 499 million tonnes attracted maximum demand. After this, the demand was for quantities of 500-1,000 million tonnes, followed by that of 50-100 million tonnes, thus indicating that small and medium flour millers and traders actively participated in the auction.
Agriculture sector records growth with annual rate of 4.6% over last 6 yrs
This has enabled the agriculture and allied activities sector to contribute significantly towards the country's overall growth, development and food security, said the Economic Survey 2022-23 tabled in Parliament by Union Minister of Finance Nirmala Sitharaman on Tuesday. Further in recent years the country has emerged as the net exporter of agricultural products,