Digital Gateway: New Govt Initiative for Farmer Finance
The government has launched an online digital gateway named “e-Upaja Kisaan Nidhi” to empower farmers with access to pledge finance against their harvested commodities. This initiative enables farmers to store their agricultural produce with the Warehousing Development and Regulatory Authority (WDRA) and secure post-harvest loans from banks. What is pledge finance? Pledge finance is a […]
Rubber Import Duty Remains Unchanged, Confirms Official
![Rubber Import Duty Remains Unchanged, Confirms Official](https://businesstoday360.com/wp-content/uploads/2024/02/Rubber-Import-Duty-Remains-Unchanged-Confirms-Official-1.webp)
The government has confirmed that the import duty on rubber will remain unchanged at 10%, despite the requests of the domestic rubber industry to increase it to 25%. The industry had sought a higher duty to protect itself from cheap imports, especially from China and Vietnam, which have been flooding the Indian market. Reasons for […]
India Permits Onion Exports to Specific Nations
![India Permits Onion Exports to Specific Nations](https://businesstoday360.com/wp-content/uploads/2024/02/India-Permits-Onion-Exports-to-Specific-Nations.jpg)
India is the second-largest onion producer in the world, with an annual production of about 24 million metric tons on average (2015-16 to 2021-22). The Indian onions are famous for their pungency and are available round the year. The country consumes about 13 lakh tons of onions every month, making it one of the most […]
FCI Authorised Capital Raised to Rs 21,000 Cr by Govt
![FCI Authorised Capital Raised to Rs 21,000 Cr by Govt](https://businesstoday360.com/wp-content/uploads/2024/02/FCI-Authorised-Capital-Raised-to-Rs-21000-Cr-by-Govt.jpg)
The central government has increased the authorised capital of the Food Corporation of India (FCI) from Rs 10,000 crore to Rs 21,000 crore, according to a notification issued by the Ministry of Food on Friday. This move aims to provide additional equity capital to support the foodgrains stock held by the government-owned firm. What is […]
Potential Separate HS Codes for GI Rice Exports
The government is considering to give new harmonised system (HS) codes, a numerical classification mandatory for internationally-traded products, to boost exports of geographical indication (GI) tagged rice varieties, a commerce ministry official said on Tuesday. The move will ensure that in case of any ban or restriction on exports of broken or white rice, such […]
GROW Report and Portal: NITI Aayog New Launch
NITI Aayog, the policy think tank of the Government of India, has launched a new report and portal on Greening and Restoration of Wasteland with Agroforestry (GROW) on 12 February 2024. The report and portal aim to provide state-wise and district-wise analysis of agroforestry suitability across India, using remote sensing and GIS technologies. The report […]
Punjab & Sind Bank and WDRA: Aiding Farmers with e-NWRs
Farmers in India can now avail low-interest loans against electronic Negotiable Warehouse Receipts (e-NWRs) thanks to a Memorandum of Understanding (MoU) signed between Punjab & Sind Bank (PSB) and Warehousing Development Regulatory Authority (WDRA) on 5 February 2024 . What are e-NWRs? e-NWRs are digital documents issued by registered warehouses that certify the ownership and […]
MeitY Empowers Paras Defense with SMART Tech: Boost for Digital India
The Ministry of Electronics and Information Technology (MeitY) has successfully transferred the Smart Food Grain Storage System (SAFEETY) technology to M/s Paras Defense and Space Technology Ltd, a leading defense and space company in India. The technology transfer took place during the launch event of the “Digital India FutureLABS Summit 2024” held at IIIT-Delhi on […]
Kerala Budget: Higher Rubber Price, ₹1,698 Cr for Agriculture
Kerala Finance Minister K N Balagopal on Monday presented the state budget for the financial year 2024-25 in the assembly, announcing several measures to boost the agriculture sector, which has been hit hard by the pandemic and natural calamities. He allocated ₹1,698.30 crore for the traditional agricultural sector and increased the minimum support price for […]
FY25 Budget: Agriculture Ministry Allocated Rs 1.27 Lakh Cr
The Union Budget 2024-25 has allocated Rs 1.27 lakh crore for the Ministry of Agriculture, a slight increase from the current fiscal year. The allocation includes Rs 60,000 crore for the flagship PM-KISAN scheme, which provides income support to farmers. The budget also focuses on boosting the sectors of fisheries, animal husbandry and dairying, as […]