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
A South African NGO has extended a helping hand to the flood-affected people in Pakistan. South A
Haryana Chief Minister Manohar Lal made a big announcement in Bhiwani on Tuesday. In the state-le
The first meeting of the G-20 under the chairmanship of India began in Kolkata today. Representat
The budget of India, one of the fastest growing economies in the world, is coming. Finance Minist
The mystery of the stepwell found in an empty plot in the Muslim-dominated locality Laxman Ganj i
Prime Minister Narendra Modi has cornered the opposition on the issue of terrorism and said that
Twitter co-founder and former CEO Jack Dorsey claimed that India was 'pressuring' him to close th
The second wave of coronavirus in New Delhi, India has become extremely deadly. Because of this,
The craze of Ahaan Pandey and Anit Padda starrer Saiyaara is on the rise among cinema lovers. The
Elon Musk Offer: Elon Musk posted a job advertisement on Twitter, and users gave shocking reactions
Tesla and SpaceX owner Elon Musk, the world's richest man, has been in the headlines almost ever
