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
JP Morgan CEO praised PM Modi Jamie Dimon, Chairman and CEO of JP Morgan Chase, praised 
Politics has intensified regarding the continuous action of the Municipal Corporation of Delhi ag
West Bengal elections: Has Abbas Siddiqui made Mamata Banerjee sleepless?
The Pir, which the locals call Dada Huzur, was a Sufi saint of the 19th century. He did many thin
Today is the 66th day of the peasant movement against agricultural laws. But, after 2 times of vi
Tauktae storm has spoiled the weather patterns in many states. Generally, where it is hot in May,
Discounts will be available on ticket-food when theaters open
Cinemas have been closed in the country since March due to the Covid-19 pandemic and lockdown and
Keeping in mind the long sixes being hit in IPL, the on-field umpires have started suddenly check
Bhuvan Bam: BB's Vines fame Bhuvan Bam is now bringing 'Latest News', which will debut on OTT
Bhuvan Bam has emerged as a well-known name on social media over the years. He is a comedian, wri
Ukraine: Why did the 64 km-long convoys of Russia's army stop moving towards Kyiv?
Britain's Defense Ministry says a huge convoy of Russian forces moving towards the Ukrainian capi
Locals in trouble-hit Sandeshkhali in West Bengal's North 24 Parganas district on Thursday celebr