Government is working on a new agriculture insurance scheme to ensure farmers are not left at the mercy of rains, Finance Minister Arun Jaitley said today, even as he hoped “We need higher growth on one hand and we need to flag the concerns of the economy in those sections where the benefits of that growth process must reach first rain gods will be kinder this year” and help check the prices of pulses and other food products.
He also expressed confidence that the economy was moving on an accelerated growth trajectory, while higher tax revenues, improving macroeconomic fundamentals and ongoing reforms make 8-10 per cent growth “eminently achievable”.
Monsoon was above normal in June with 25 per cent excess rainfall despite a late arrival as well as a drought-like prediction and the rest of the monsoon may also be good, he said.
“I hope their estimates turn out to be true and it appears that the rain gods may be kinder this year to us. The farm department has informed me that with better rainfalls in most parts of the country, even for pulses, which at the moment are a cause of concern, productivity is likely to be much higher this year.
Speaking at the Nabard Foundation Day function here, Jaitley said the “silver lining” is that revenue collection situation is expected to be more comfortable than last year.
He said with the ongoing reform process, proposed GST, increased infrastructure investment and emphasis on smart cities, 8-10 per cent GDP growth is very much “in the sight”.
Allaying fears of any poor monsoon-driven troubles for the farmers and the consumers, Jaitley said the government has taken a number of initiatives, including the recently announced Rs 50,000 crore programme for a national irrigation.
Promising more sustainable measures for the farm sector so that the farmers are not left to the mercy of rain gods, Jaitley said “hopefully, in the near future, a viable and vibrant insurance scheme will be in place for farmer
The Enforcement Directorate (ED) team, which is investigating the economic aspects in the case of
Even today, there has been no increase in the prices of petrol and diesel by the oil companies. I
Tripura: 'Can you recognize your CM?', President Murmu talks to tea garden workers
President Draupadi Murmu on Wednesday inaugurated the National Law University (NLU) at Narsinghga
Will TMC go on rampage during Amit Shah's Bengal tour? The political script looks like last time
The political upheaval in the West Bengal elections this year is at its peak. Amit Shah is going
The journey is beautiful, let's not talk about the destination for the time being, similarly, the
Corona's entry has been made in the Ranji Trophy starting on January 13. 7 players of the Bengal
Thanks to Hardik Pandya's all-around performance and Rishabh Pant's first ODI century, Team India
The suspense on who will be the next president of Congress will end in a few days. There is littl
Cold wave continues to wreak havoc in Delhi for three days. Visibility is also low due to dense f
Salaar: 'Salaar' shows will run from 1 am to 4 am, Telangana government gives permission
Actor Prabhas's much talked about film 'Salaar' is very close to release. Booking is going on in
