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The following are just example newsflash to give some overview of how it will be seen on this website. One of the important elements of inclusive growth is agriculture development, as nearly 60% of workers depend on the sector. The growth rate of agriculture during 10th Plan was 2.3% per annum. There have been farmers' suicides in several states. The FM indicated in the Budget that 'agriculture must top the agenda of the policy-makers and must hold the first charge in our resources'. Against this background, one expected better initiatives for agriculture.
The FM's proposals include credit, a mission for pulses, irrigation, restoring water bodies, groundwater recharge, extension systems, agricultural insurance, and rural infrastructure development fund (RIDF).
The two concrete proposals are on credit and irrigation. Agricultural credit is expected to cross Rs 1,90,000 crore in the current year. The government wants to increase the level of credit to Rs 225,000 crore in 2007-08 and add another 50 lakh farmers to their portfolios. But, there are many problems in this sector. First, the ground realities are different as compared to the macro figures. There are reports that many farmers are getting credit mainly from moneylenders. It is also not clear whether the entire credit increase was real or banks are making book adjustments. |
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Focus on industry, agriculture welcome |
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The Budget has focused on an inclusive and balanced growth, controlling inflation and strengthening infrastructure. The emphasis on fiscal consolidation, agriculture and rural development, support to manufacturing and SMEs, and measures to strengthen the social sector, particularly health and education, will help sustain the pace of growth. The acceleration in social sector spending, particularly in the key areas of education and health, is welcome. |
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Valencia earmarked P10M for livelihood assistance |
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THE local government unit of Valencia has earmarked P10 million as financing assistance to award to different farmer organizations in the municipality.
This is to provide Valencianons the opportunity to improve economically through livelihood support program.
Recently, a committee that was created to oversee this project, started screening applications from more than 20 farmer organizations that submitted project proposals. |
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