Agriculture Current Affair 25 January 2022

Unseasonal rains and hail affect rabi crops in North India

Unseasonal rains and hailstorms over the past few days in northern India have impacted Rabi crops like mustard, wheat, gram and potato. Mustard crop, which should have come to the market in the first week of February, will now be delayed by three weeks as harvesting will not start till the fields dry up.

Sensing that the crop arrival will be delayed, wholesale prices of mustard oil have shot up by Rs 5 per litre over the last one week.

The unseasonal rainfall that started from the second week has been beneficial for some crops, while impacting the growth of few others.

Budget 2022: Agri-tech and aquaculture sectors seek incentives for R&D

Agri-tech and aquaculture sectors have sought incentivisation of research and development and inclusion of formal finance and insurance in aquaculture in the upcoming Budget. The agritech sector also sought support from the government in terms of tax benefits, eligibility criteria to boost the progress of the sector.

Taranjeet Singh Bhamra, CEO & Founder of AgNext Technologies said “2021 was a good year for the agritech sector, which flourished with strong investments and greater adoption of technologies in the market. To support this growth momentum, acute focus on the development of the burgeoning agritech ecosystem is pivotal. We hope that the upcoming budget will prioritize R&D incentivization in agriculture, along with the supportive impetus to allow agritech businesses, particularly start-ups, to scale domestically at a greater pace. The agritech ecosystem also requires a focus on infrastructure development and governance frameworks to spur more innovation in the sector. Fiscal considerations can be beneficial to facilitate the growth of the Indian agritech sector in 2022.”

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