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Seed subsidy hiked to Rs 148 cr, Action Plan for Kharif released

Posted by on June 2, 2011 0 Comment

Hyderabad: An action plan for Kharif has been released setting a target of 228 lakh metric tons of food production this year.

Speaking to media persons at the Secretariat on Thursday after the release of the plan, Agriculture Minister Damodar Rajanarasimha said the seed subsidy has been increased by Rs 70 crore from Rs 148 crore.
Seeds to the extent of 16 lakh quintals for 16 crops would be supplied and fertilizers worth 40 lakh metric tons would be made available to the farm sector, he stated.

Under crop and term loans, Rs 27500 crore would be given through the banks.

Besides this, it was planned to provide Rs 48000 crore towards agriculture credit for this year against Rs 37,835 crore during last year.

Rs 200 crore has been allocated for the loan waiver.

This apart, the Minister justified raising cotton rates recently stating that low quality product would not be allowed and keeping in view the interests of the cotton growers.

The idea was to provide 50 per cent of profit to the farmers. After analysing the show in the neighbouring states and considering the porous borders a decision was taken to hike the cotton rates, the Minister said.(INN)

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