Trade and markets
 

Detail

Area
India
Commodity Group
Rice
Commodity
All
Date
28/02/2015
Policy Category
Production
Policy Instrument
Budgetary allocations, production support
Description
Announced that in its efforts to address critical factors related to soil and water, it would support organic farming through the "Paramparagat Krishi Vikas Yojana” scheme, as a complement to ongoing efforts to extend soil health cards to farmers. The 2015-16 budget would see an additional Rupees 53 billion (USD 847 million) reserved to the "Pradhanmantri Gram Sinchai Yojana" scheme, with a target of extending irrigation to all farmers and enhance water use efficiency, and for micro-irrigation and watershed development. Further efforts will concentrate on boosting agricultural credit and initiating the process to create a national agriculture market, greater outlays to fertilizer subsidies, as well as enhancing the effectiveness of the Mahatma Gandhi National Rural Employment Guarantee Act. Meanwhile, selected programmes such as the Rashtriya Krishi Vikas Yojana and the National Food Security Mission, will fall under a new cost-sharing mechanism between the central government and states.
Notes
Exchange rate as of 1 April 2015