Showing posts with label Agriculture Budget. Show all posts
Showing posts with label Agriculture Budget. Show all posts

Wednesday, March 5, 2008

PC's fans -Indian Union Budget 2008-2009

Finance Minister P. Chidambaram's farmer-friendly budget, which had not made much of an impression on our dour comrades, is finding an entirely unexpected resonance in communist China. Raving about the Indian budget in a signed article published in Beijing News, Chinese scholar Zhu Sipei says it reflects the "Indian government's determination to let farmers gain a share of the wealth created by the country's rapid economic growth."

That was not all. Zhu insisted that "the same is overdue for China's peasantry, which has played the biggest role in China's road to prosperity with its sacrifices to feed and enrich the country's modern cities."

The Chinese enthusiasm for India's budget comes amidst mounting rural unrest in our northern neighbour. In recent years, China has moved to grant a measure of property rights to its citizens, especially in urban areas. The peasants do get leases on land, but can't own it. The Communist Party is reluctant to touch the socialist dogma on 'collective ownership of land'.

Driven to desperation, Chinese farmers are fighting back with the slogan 'land to the tiller' that should sound familiar to our communists. China's rural unrest is gaining new international and domestic attention, thanks to the focus on the Olympic Games to be held in Beijing later this year.

Last month, a Chinese land rights activist, Yang Chunlin, was put on trial for subversion. Yang gathered 10,000 signatures for an open letter demanding farmers' rights. To rally support, he posted the letter on the Internet with the title, 'We want human rights, not the Olympics.' For now, opposing the Olympics is the bigger, more urgent crime.

Lalu's big think

While Chidambaram has reasons to be pleased, Railway Minister Lalu Yadav might want to check out what the Chinese Railways are up to in Nepal which shares a long border with Bihar.

After it completed the rail link to Lhasa a couple of years ago, Beijing has repeatedly signaled its interest in extending it up to the Nepal border. Now there are indications that China is ready to push the line right into the Kathmandu valley.

An assistant foreign minister, He Yafei, who is visiting Nepal this week, has reportedly reaffirmed Beijing's interest in the Kathmandu rail link. The minister has also promised to make permanent arrangements for the supply of petroleum products to Nepal from China. Until now India has been the sole supplier of fuel to land-locked Nepal.

When these two projects go through, China would have neutralised India's geographic advantages in Nepal. Rather than oppose these projects, India should expedite its own plans to build oil pipelines into Nepal and deepen the Indian rail network's presence in our northern neighbour.

Lalu has enough political clout to get New Delhi to make an historic offer on building a rail link to Kathmandu and beyond. He could even propose joining up with the Chinese rail network on Nepal's border. That should connect the markets of north India and west China and position Nepal as a transit zone.

A rail line connecting northern India with Kathmandu has been around for a long time. Rail Bhavan's babus, however, have had no stomach for it. After China's breathtaking Lhasa line and India's own spectacular rail road to Srinagar, under construction, why should an Indian rail line to Kathmandu be mission impossible?

http://in.news.yahoo.com/indianexpress/20080306/r_t_ie_op_clm/top-pc-s-fans-7f368a9_1.html

Deshmukh wants loan waiver eligibility raised to five hectares - Budget 2008

Maharashtra Chief Minister Vilasrao Deshmukh Wednesday sought a revision in the criteria for loan waiver to farmers, saying only 76 percent of farmers will benefit from the relief announced by the government in the national budget.

Deshmukh said the proposed loan waiver announced for farmers by Finance Minister P. Chidambaram was historic, but would not benefit all farmers unless the eligibility criterion was increased to a minimum five hectares.

Chidambaram had announced a one-time loan waiver of a whopping Rs. 600 billion to cover an estimated 40 million small and marginal farmers possessing up to two hectares of land.

'I am pursuing the matter with the government and our party president Sonia Gandhi and hope some positive result will come out,' Deshmukh told reporters after finalizing the state's Rs. 250 billion plan outlay for 2008-09 with the Planning Commission deputy chairman Montek Singh Ahluwalia.

'There are an estimated 2.5 million farmers in Maharashtra having taken loans from different financial institutions, out of which 1.8 million stand to benefit from the loan waiver. All farmers from the state should get the benefit. For this, the criteria have to be upwardly increased.'

Deshmukh earlier met Congress president Sonia Gandhi and requested her to intervene so that all the needy farmers stand to benefit from the government's scheme.

'She has promised to look into the matter,' he said.

Deshmukh said that his government would concentrate on streamlining infrastructure in the urban as well as semi-urban areas, with a special focus on power and irrigation sector.

http://in.news.yahoo.com/indiaabroad/20080305/r_t_ians_nl_politics/tnl-deshmukh-wants-loan-waiver-eligibili-a4b7bec_1.html

Deshmukh for relaxation in farmer loan waiver criterion-India Budget 2008-2009

Maharashtra Chief Minister Vilasrao Deshmukh Wednesday sought a revision in the criteria for loan waiver to farmers, saying only 76 percent of farmers will benefit from the concession announced by the central government in then national budget 2007-08.

Deshmukh said the proposed loan waiver announced for farmers by Finance Minister P. Chidambaram was historic, but would not benefit all farmers if the farmers' eligibility criterion was not increased up to a minimum five hectares.

The government in its annual budget Feb 29 announced the one-time loan waiver of a whopping Rs.600 billion to cover an estimated 40 million small and marginal Indian farmers possessing two hectares of land.

'I am pursuing the matter with the government and Congress president Sonia Gandhi and hope some positive result will come out,' Deshmukh told reporters after meeting Planning Commission deputy chairman Montek Singh Ahluwalia to finalise the annual plan outlay for Maharashtra.

http://in.news.yahoo.com/indiaabroad/20080305/r_t_ians_nl_general/tnl-deshmukh-for-relaxation-in-farmer-lo-b9e311f_1.html

Friday, February 29, 2008

Agriculture Budget 2008 - 2009

  • Debt waiver scheme and relief to small and marginal farmers
  • Agri loans disbursed by rural banks, RRBs and Cooperative banks before March 2007 and overdue on Dec 2007 waived
  • Overdue agri loans amount to Rs 50,000 cr under the waiver and 10,000 cr under the OTS
  • Implementation of waiver to be completed by June 2008
  • Farmers eligible for fresh agri loans post the waiver or one time settlement
  • National Agri Insurance scheme get Rs 640 cr
  • National Horticulure Mission to get Rs 1,100 cr
  • Govt sets up irrigation and water resource finance corp with an initial corpus of Rs 100 cr
  • Agriculture share in total investment up from 10.2% in 2003-04 to 16% during the 11th Plan
  • Agri credit target to be Rs 2,80,000 cr for 2008-09
  • Agri credit doubled in first two years
  • Agriculture credit to touch 2,40,000 cr in 2008
  • Focus on achievement of self-sufficiency in food grain
  • Soyabean output to be 9.45 mn tonnes
  • Maize production to be 16.78 mn tonnes
  • Rice production to be 94.08 mn tonnes
  • Total agri production to be 219.32 mn tonnes at all time high
  • Agriculture disappointing at average annual growth of 2.6%

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