Agriculture Current Affair 2 February 2022

Economic Survey states farm credit worth over Rs 7.36 lakh crore disbursed in H1 of FY’22

Farm credit worth over Rs 7.36 lakh crore has been disbursed to farmers during the first six months of the 2021-22 fiscal year, according to the Economic Survey. The government has fixed a farm credit target of Rs 16.50 lakh crore for the current fiscal.

“… Against this target, a sum of Rs 7,36,589.05 crore has been disbursed till September 2021,” the survey said.

During the 2020-21 fiscal, Rs 15,75,398 crore agricultural credit was disbursed by banks, against the target of Rs 15,00,000 crore for the year.

ISMA revises upward sugar output at 314.5 lakh tonnes in 2021-22; export up at 16 lakh ton in Oct-Dec

India’s sugar production estimate has been revised upward by 3 per cent to 314.5 lakh tonnes for 2021-22 marketing year ending September as against the earlier forecast of 305 lakh tonnes, according to industry body ISMA. Sugar output stood at 311.8 lakh tonnes in the 2020-21 season.

Releasing its 2nd advance estimates, Indian Sugar Mills Association (ISMA) said, “The country is expected to produce 314.50 lakh tonnes of sugar during 2021-22 season.”

Sugar marketing year runs from October to September.

Incentivise tomato, onion production during lean season to contain price rise: Survey

The government should develop strategies to incentivise tomato and onion production during the lean season to check price rise, the Economic Survey said on Monday.

Seasonal and shock components contribute to the spikes of the tomato and onion prices, it added.

According to the Survey, “Seasonality in prices resulting from seasonal production patterns require policy attention. Strategies to incentivise production during the lean season should be designed”.