Agriculture

Inability to repay bank loan and poor output from agriculture fields allegedly drove a 35-year-old farmer to commit suicide on Monday in Beed district, police said.

Punjab Finance Minister Manpreet Singh Badal today presented the state budget for 2019-20 with a total outlay of Rs 1,58,493 crore with no new taxes.

Though this was an interim Budget, the government has done a fine job and tabled a very holistic and fiscally prudent plan for the country.

As was widely expected, government did touch upon the nerve for revival of Rural income and Agricultural sector. The slowdown in Agricultural Economy has been evident over the past few months now and the distress has crossed the more than expected threshold.

The government is expected to announce measures to help the MSME sector and Agricultural economy. These announcements may not be a new phenomenon. However, the implementation will play a critical role. Following are some thoughts to dwell upon towards the implementation aspect.

The government had announced a moderately balanced budget in the previous year amidst uncertainty over rising crude, lower than expected revenue collection on account of GST and also desire to revive GDP growth. Though not too ambitious the budget would be expected to continue the 2022 goals.

Facing financial crunch, the government has decided to waive farm loan in installments. Chief Minister Kamal Nath wants some part of the amount of farm loan waiver be transferred to bank accounts of maximum number of farmers.

Severe cold and frost has hit 30 districts in state and destroyed 1.72 lakh hectares of crops including chana, masoor, arhar and vegetables

Former RBI Governor Raghuram Rajan said farm loan waiver should not form part of poll promises and he has written to Election Commission that such issues should be taken off the table. In every state election during the last five years, loan waiver promise made by one political party or other.

The farmer protest in the national capital on Friday focused yet again on their multifaceted problems.…