Trade and markets
 

Detail

Area
India
Commodity Group
Rice
Commodity
All
Date
10/07/2014
Policy Category
Production
Policy Instrument
Budgetary allocations, production support
Description
Announced it would allocate Rupees 1.6 billion (USD 26.2 million) as part of its 2014/2015 budgetary allocations, to address deteriorating soil health by extending soil health cards to farmers and setting up mobile soil testing laboratories, while a separate Rupees 1.0 billion (USD 16 million) would be set aside to establish a National Adaptation Fund for climate change. With the government committed to sustaining 4% growth in agriculture through a technology-driven second green revolution, additional measures would include the allocation of Rupees 5 billion (USD 82 million) to a Price Stabilization Fund to address price volatility, Rupees 10 billion (USD 164 million) to expand irrigation infrastructure, greater outlays to fertilizer subsidies, as well as measures to boost agricultural credit, rural infrastructure and agricultural research and education.
Notes
Exchange rate as of 15 September 2014.