Agriculture Current Affair 1 February 2020

Vegetable oil industry disappointed with Budget 2020

The vegetable oil industry is disappointed with the Budget 2020, said Solvent Extractors’ Association (SEA), an apex trade body of the vegetable oil Industry.

“The Industry was expecting at least this year the Finance Minister will come out with a package of incentives in the Budget for higher production and productivity of oil seeds to reduce our dependence on import of edible oils,”said BV Mehta, executive director, SEA.

The expectation of the industry was higher, he said. “The industry was expecting that the Finance Minister will curtail the import of edible oil by imposing higher duty and also announce creation of Oilseed Development Fund. It is disappointing that the above did not reflect in the Budget,”he said.

Zero-budget farming may not be a good move for fertiliser companies: Experts

Analysts and experts feel that the 16-point agenda to boost farmers’ income will revive the rural economy but say that zero-budget farming may significantly cut down on agri-input consumption and therefore is negative for fertiliser companies.

Mr. Manoj Jain, director & head of Commodities, IndiaNivesh said “The government provides a blueprint for revitalizing growth of real India through various incentivization schemes related to agriculture, healthcare, and education. The government has remained firm on its commitment to doubling farmers’ income by 2022 and has formulated concrete plans under its 16-point agenda to boost farmers’ income.

Aviation Ministry to launch Krishi Udan scheme for transport of agri-products: FM

Finance Minister Nirmala Sitharaman on Saturday said the Aviation Ministry will launch the Krishi Udan scheme to assist farmers in transporting agricultural products so that it improves their “value realisation”.

“Krishi Udan will be launched by the Ministry of Civil Aviation on international and national routes. This will immensely help improve value realisation (on agricultural products), especially in the north-east and tribal districts,” said Sitharaman during her budget speech.

The Modi government had launched Udan Scheme in 2016 to improve regional connectivity.

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