Nifty99000 100%

Sensex99000 100%

Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: 4.0
Article rating: No rating
Article rating: 2.0
Article rating: 1.5
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: 1.0
Article rating: No rating
Article rating: No rating


Govt will ensure GDP gains reach farmers: Jaitley

Author: IANS/Monday, January 15, 2018/Categories: Agri & Fertiliser

Govt will ensure GDP gains reach farmers: Jaitley

New Delhi - The agriculture sector is a foremost priority for the government and it wants to ensure that the gains of economic growth reach the farmers so as to be equitable, Finance Minister Arun Jaitley said.

With estimates indicating a fall in growth in the current fiscal for the stressed sector, Jaitley's remarks are being seen as significant coming ahead of the Union Budget presentation on February 1. Market analysts also point to polls coming up in major states this year and the general elections due in 2019, as factors that would weigh on the forthcoming budget in allocations for the farm sector.

"India is one of the fastest growing economies in the world and the growth is benefiting people in different sectors," Jaitley said at the launch of India's first agri-commodity options in guar seed.

"But maximum population is dependent on agri-sector and unless the gains are clear and evident, the growth is not justifiable and equitable. Ensuring the benefits reach the agri-sector and growth is visible -- this is among the priority areas for us," he said.

"We see in some places the problem of falling prices because of higher production. Farmers are not getting the price for their produce," he added. 

As per Central Statistics Office data earlier this month, the Gross Value Added (GVA) in agriculture, forestry and fishing for 2017-18 has been estimated at 2.1%, compared to 4.9% in the preceding year.

The Agriculture Ministry said in a statement here that it has held a quick deliberation on the growth rate for the sector to strategize on ensuring that 2017-18 sees a much higher growth rate.

On January 14, Jaitley sounded the opening gong for India's first agri-commodity options in guar seed, launched by the National Commodity and Derivatives Exchange (NCDEX) and designed as a hedge for farmers to safeguard against price risks.

Lauding farmers for taking the country out from a situation of shortages in the past, the Finance Minister said the NCDEX initiative will help farmers get more income from produce.

"This is one of the biggest developments for our agriculture market... Farmers will have the option to trade with this financial instrument," he said.

Print Rate this article:
No rating

Number of views (152)/Comments (0)

rajyashree guha


Other posts by IANS
Contact author

Leave a comment

Add comment



Ask the Finapolis.

I'm not a robot
Dharmendra Satpathy
Col. Sanjeev Govila (retd)
Hum Fauji Investments
The Finapolis' expert answers your queries on investments, taxation and personal finance. Want advice? Submit your Question above
Want to Invest



The technical studies / analysis discussed here can be at odds with our fundamental views / analysis. The information and views presented in this report are prepared by Karvy Consultants Limited. The information contained herein is based on our analysis and upon sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. The investments discussed or recommended in this report may not be suitable for all investors. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advice, as they believe necessary. While acting upon any information or analysis mentioned in this report, investors may please note that neither Karvy nor Karvy Consultants nor any person connected with any associate companies of Karvy accepts any liability arising from the use of this information and views mentioned in this document. The author, directors and other employees of Karvy and its affiliates may hold long or short positions in the above mentioned companies from time to time. Every employee of Karvy and its associate companies is required to disclose his/her individual stock holdings and details of trades, if any, that they undertake. The team rendering corporate analysis and investment recommendations are restricted in purchasing/selling of shares or other securities till such a time this recommendation has either been displayed or has been forwarded to clients of Karvy. All employees are further restricted to place orders only through Karvy Consultants Ltd. This report is intended for a restricted audience and we are not soliciting any action based on it. Neither the information nor any opinion expressed herein constitutes an offer or an invitation to make an offer, to buy or sell any securities, or any options, futures or other derivatives related to such securities.

Subscribe For Free

Get the e-paper free