Kharif crops production likely to decline up to 53.3 per cent due to erratic weather
The production of coarse grains, pulses, oil seeds and sugarcane is expected to decline in the summer season of 2019-20 due to late monsoon and erratic and heavy rains later, according to a report. In the current assessment, coarse grains, pulses, oil seeds and sugarcane have marginally pushed themselves further in the negative region with an expected decline of 14.14 per cent, 14.09 per cent, 53.31 per cent and 11.07 per cent over the last estimate, respectively, according to a report by the National Bulk Handling Corporation (NBHC)
With new Maha offer, farm loan write-offs touch Rs 4.7 lakh cr in last 10 yrs
Various states have cumulatively written off a whopping Rs 4.7 lakh crore of farm loans in the past one decade, which is 82 per cent of the industry-level bad loans, according to a report.
In FY19, farm loan NPAs jumped to 12.4 per cent or at 1.1 lakh crore of the Rs 8,79,000 crore of total bad loans in the system, up from Rs 48,800 crore or 8.6 per cent of the total NPAs of Rs 5,6,6,620 crore in FY16, the report by SBI Research said.
“Even though agriculture NPA was only Rs 1.1 lakh crore or 12.4 per cent of the overall NPAs in FY19, if we accounted for Rs 3.14 lakh crore worth of farm loan waivers announced in the last decade, agri NPAs/burden for the exchequer/banks could be as much as staggering Rs 4.2 lakh crore and if the latest Rs 45,000-51,000 crore of write-offs announced by Maharashtra (second in three years) this it could be at Rs 4.7 lakh crore which is 82 per cent of the industry level NPAs,” the report claimed.
Ministry wants update on grain procurement
The food ministry has asked states to regularly update data on the amount of foodgrains purchased and the money disbursed to farmers along with their names to help it monitor and plan food procurement, and identify beneficiaries across the country.
“We have 14 states on board covering 361 districts across the country. They are sending us regular updates on procurement. Ten states have joined only a month ago. Among big states, West Bengal will join soon,” said a senior food ministry official.