Agriculture Current Affair 21 October 2022

Wheat will be sold in open market to control prices: Food Secretary

The government “will sell wheat in the open market if there is a need to control prices”, food secretary Sudhanshu Pandey said on Monday.

Stock position of wheat and rice in the central pool is comfortable even after meeting the requirements of the seventh phase of Pradhan Mantri Garib Kalyan Ann Yojana (PMGKAY), he said. “We also have a surplus for market intervention if the need arises,” he added. Pandey allayed concerns over wheat price increase, saying the rise is in tune with the increase in its minimum support price (MSP) and other costs such as transportation.

International prices of wheat are ₹9-10 higher than its domestic prices, he said, adding that only a part of Ukraine’s wheat supply has reached the global market and the shortfall continues.

Union Cabinet approves MSP hike for all mandated rabi crops

The Cabinet has approved minimum support price (MSP) hike for all mandated rabi crops for marketing season 2023-24, union minister Anurag Thakur announced.

The MSP for lentil (Masur) has seen the highest increase of Rs 500 per quintal. Rapeseed and Mustard has been increased by Rs 400.

MSP is the rate at which the government buys grain from farmers. Currently, the government fixes MSPs for 23 crops grown in both Kharif and rabi seasons.

Drones can boost India’s GDP by up to 1.5%, address challenges for the country’s key agriculture sector

Drones, or the unnamed aerial vehicles, are increasingly being used by various sectors ranging from personal use to war purposes, but they can also add to economic output of a country.

Drones have the potential to be at the center of a technology-led transformation of Indian agriculture and boost the country’s gross domestic product by 1-1.5 percent while adding at least five lakh jobs in the coming years, the World Economic Forum said in a report.

“There are truly revolutionary changes happening in the farthest reaches of the country – at the intersection of artificial intelligence (AI) and agriculture as well as between military and civilian technologies – that have the power to truly transform a billion livelihoods,” said the report, prepared by WEF’s Centre for Fourth Industrial Revolution in India in collaboration with Adani Group. “Drones are at the centre of such a revolution and can become the fulcrum for a technology-led transformation of the economy.”

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