Ad
Ad
Ad
The central government is taking significant steps to improve the income of farmers by ensuring they receive better prices for their crops, especially mustard, sunflower, and groundnut. These measures aim to strengthen the agricultural sector and bring financial benefits to farmers across India.
Also Read: Centre to Invest ₹6,000 Crore in AI and Drones for Smart Farming
In an effort to uplift farmers, the government has increased the import duty on edible oils, which was previously at 0%. This has now been raised to 20%. This move is expected to reduce the reliance on imported oils, boosting demand for locally grown oilseeds. As a result, Indian farmers will receive better prices for their oilseed crops, significantly increasing their income. Apart from this, several other pro-farmer decisions have been taken by the government.
With the increase in import duty on edible oils, the total effective duty now stands at 27.5%. This will encourage the edible oil manufacturers to purchase crops like soybean from local farmers, ensuring that they get fair prices for their produce. Moreover, the production of soybean cake will increase, enhancing the export opportunities for India. States like Maharashtra and Madhya Pradesh, where oilseed farming is prominent, are expected to see major benefits from this policy.
The government has also removed the minimum export duty on Basmati rice, which is great news for Basmati farmers. This will enable farmers to fetch better prices for their produce and boost the export demand for Basmati rice. India is the world's largest exporter of Basmati rice, and this decision will especially benefit farmers in states like West Bengal, Uttar Pradesh, and Punjab.
Also Read: Paddy Procurement to Begin on September 23: Key Details for Farmers in the State
In another farmer-friendly move, the government has also reduced the export duty on onions from 40% to 20%. This reduction is expected to help the onion farmers by offering them better market prices and expanding onion exports. Maharashtra and Madhya Pradesh, being the largest producers of onions, will see the greatest advantage from this policy.
The impact of this decision is already visible in the market, with onion prices increasing by Rs 10 per kilogram. India exports onions to neighboring countries like Bangladesh and Pakistan, making it a key commodity for both domestic and international markets.
To further support oilseed farmers, the central government has increased the basic duty on refined oil to 32.5%. This will increase the demand for oilseed crops such as mustard, groundnut, and sunflower, ensuring that farmers get better prices for their crops. Additionally, the increase in small and rural refineries will also create more employment opportunities, particularly for the youth in rural areas.
Despite these efforts, some farmers are worried about the falling prices of soybeans in the market. In response, the government has approved the purchase of soybeans at the Minimum Support Price (MSP). However, farmers in Madhya Pradesh have expressed concerns, urging the government to buy their soybean crop at Rs 6,000 per quintal.
The government has clarified that soybeans will be purchased at the MSP fixed for the crop year 2024-25, which is set at Rs 4,892 per quintal. Farmers have been requested to avoid rumors and trust the government’s process to ensure fair compensation for their crops.
Also Read: SUBHADRA Scheme Launched: Rs 50,000 Financial Support for Women Over 5 Years
The central government’s recent decisions are focused on improving the financial condition of farmers by ensuring they receive better prices for key crops like mustard, sunflower, groundnut, and soybean. Through these policies, the government aims to enhance agricultural productivity, boost exports, and create employment opportunities in rural areas, ultimately benefiting millions of farmers across the country.
These steps reflect the government's ongoing efforts to support the agricultural sector and improve farmer's livelihoods. The decisions to increase import duties, reduce export duties, and adjust MSP rates will play a crucial role in boosting the income of farmers and securing a brighter future for Indian agriculture.
Government to Provide Loans and Interest Subsidy for Tractors and Farm Equipment: How Farmers Can Benefit
The government offers loans with up to 7% interest subsidy for farmers, easing access to affordable funds for agricultural and other needs....
12-Nov-24 06:14 AM
Read Full NewsDomestic Tractor Sales Rise in October 2024: 1,44,675 Units Sold with 22.37% Growth
Domestic tractor sales grew by 22.37% in October 2024, with 1,44,675 units sold. M&M Group led the market growth....
11-Nov-24 10:03 AM
Read Full NewsMahindra Farm Equipment Raises Growth Outlook for FY25, Aiming for 16% Tractor Market Growth in H2
Mahindra Farm Equipment raises its FY25 growth forecast, targeting 16% tractor market growth, with a focus on alternative fuels....
11-Nov-24 07:29 AM
Read Full NewsSonalika Tractors Achieves Record Sales with 20,056 Tractors Sold in October 2024
Sonalika Tractors sets a record with 20,056 tractor sales in October 2024, supporting farmers with customized, high-performance, sustainable solutions....
08-Nov-24 07:54 AM
Read Full NewsMahindra Tractors Launches Virtual Tractor Drive Experience with AI-Powered Personalization to Celebrate 60th Anniversary
Mahindra Tractor’s virtual drive uses AI to let farmers create personalized videos of themselves driving, celebrating 60 years of farming support....
07-Nov-24 05:14 AM
Read Full NewsRetail Tractor Sales Report for October 2024: Growth of 3.08% in Sales
October 2024 saw a 3.1% increase in tractor sales, with Mahindra & Mahindra leading, followed by gains for John Deere and CNH Industrial....
06-Nov-24 05:50 AM
Read Full NewsAd
Ad
Pradhan Mantri Fasal Bima Yojana (PMFBY): Comprehensive Guide to Crop Insurance, Benefits, Eligibility, and Application Process
12-Nov-2024
Farmtrac 45 Powermaxx vs. Mahindra 575 DI: Comprehensive Analysis of Performance, Features, and Value for Farmers
11-Nov-2024
Mini Tractors vs. Big Tractors: Differences, Pros, Cons, and Which One to Choose?
18-Oct-2024
Top 10 Rice-Producing States in India 2024: Rankings, Insights, Cultivation & Trends
16-Oct-2024
Subhadra Yojana: Empowering Women in Odisha with Rs. 50,000 Financial Support, Eligibility, Benefits, and Objectives
14-Oct-2024
Top 10 Tractors for Farming and Agriculture in India (2024)
11-Oct-2024
View All Articles
As featured on:
Registered Office Address
Delente Technologies Pvt. Ltd.
M3M Cosmopolitan, 12th Cosmopolitan,
Golf Course Ext Rd, Sector 66, Gurugram, Haryana
pincode - 122002