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
What is the danger of nuclear attack in the war between Ukraine and Russia?
Russian President Vladimir Putin has ordered the military to put its deterrence forces, including those with nuclear weapons, on "special alert" amid ongoing attacks on Ukraine. But what does this
Indian Space Sector: The world is seeing India as an inspirational place in the space sector - ISRO Chief Somnath
Indian Space Research Organization Chairman S Somanath attended the 18th convocation of SRM Institute of Science and Technology near Kattankulathur on Sunday. Speaking at the event, he said that the
World Cup: Prime Minister Modi met Indian players after the final; Shake hands with Jadeja, hugged Shami
India had to face defeat in the final of the ODI World Cup 2023 against Australia. Kangaroos beat India by six wickets. After this defeat, the Indian players went to the dressing room and a picture of
Pakistan is behind the Khalistanis in Canada and Indians are the target, a new conspiracy revealed
Khalistani supporters (PKE) in Canada are continuously targeting the people of the Indian community. The situation is getting worse day by day. From creating groups on social media apps like WhatsApp
Rahul Gandhi spoke for the first time on marriage: Told what kind of girl is needed, what qualities should she have
The question of marriage came up during Rahul Gandhi's Bharat Jodo Yatra. The answer was very interesting. Rahul was talking about his grandmother Indira Gandhi during the visit. He said- Indira
CSK vs GT: Will Kane Williamson be out of IPL 2023? Captain Hardik Pandya gave a big update on the injury
In the first match of the 16th season of the Indian Premier League (IPL 2023), Gujarat Titans defeated Chennai Super Kings by 5 wickets, showing a champion game. Although, under the leadership of
Samsung Galaxy S23 series will be launched on this day, know what will be new in the phone
India's Got Latent: Ali Goni reacted to Samay Raina deleting the videos, saying- he asked to delete all the episodes…
After Ranveer Allahabadia's objectionable statement on stand-up comedian Samay Raina's show 'India's Got Latent', both of them are facing a lot of opposition. However, some people have also come in
Bharat Bandh Today: Bharat Bandh today due to caste census, know who called and what will be the affect on you
Bharat Bandh 2022 All India Backward and Minority Communities Employees Federation (BAMCEF) has called a Bharat Bandh on 25 May i.e. today. This Bharat Bandh is being done with the demand of the
This 'Gujarati vaccine' is being watched by the world, 300 scientists working 24 hours for our safety
On November 28, Prime Minister Narendra Modi visited the Zydus Biotech Park in Ahmedabad to inquire about the research and development of the Corona vaccine. Since then, the world has been eyeing
