Budget highlights for agriculture

  • The FM also announced an increase in agriculture credit target to Rs 16.5 lakh crore in FY 2021-22 (10% higher than FY 2020-21) & assured better flow to animal husbandry, dairy, and fisheries sectors
  • The Agriculture and Farmers’ Welfare Ministry has 5.63% more budget allocation at Rs 1,31,531 crore for 2021-22. For this fiscal the revised budget is estimated to be Rs 1,24,519 crore
    • Of the total allocation, the Department of Agriculture and Farmers’ Welfare gets Rs 1,23,017.57 crore while Department of Agricultural Research and Education has been allocated Rs 8,513.62 crore
    • The allocation for 10 central schemes has been increased marginally by Rs 1,856.51 crore to Rs 1,05,018.81 crore for 2021-22 from the current fiscal
    • The Government has increased the allocation for formation and promotion of 10,000 farmer producer organisations (FPOs) by Rs 500 crore to Rs 700 crore and agriculture infrastructure fund has been increased by Rs 692 crore to Rs 900 crore
Continue reading “Budget highlights for agriculture”

NCDEX e Markets Board appoints Mrugank Paranjape as its new MD & CEO

Mumbai, November 05, 2020 (Masks were only removed for photograph)

The Board of Directors of NCDEX e Markets Limited (NeML), India’s leading integrated e-market platform Company today announced the appointment of   Mr Mrugank Paranjape as the new Managing Director & Chief Executive Officer (MD & CEO) of the Company. NeML is a 100% subsidiary of National Commodity & Derivatives Exchange Limited (NCDEX), which is India’s largest agricultural commodity exchange. Mr Paranjape has taken charge with effective November 5, 2020.

Continue reading “NCDEX e Markets Board appoints Mrugank Paranjape as its new MD & CEO”

Noble Prize for Economics validates the importance of Auction Theory

Image Source – https://news.stanford.edu/

The Royal Swedish Academy of Sciences has awarded the Sveriges Riksbank Prize in Economic Sciences in memory of Alfred Nobel 2020 to Paul Milgrom and Robert Wilson, both from Stanford University, USA and leading game theory specialists. NCDEX e Markets Limited (NeML), India’s leading Agri-tech Company offering integrated e-markets and Services Company joins the economics fraternity the world over in congratulating the efforts of the gentlemen duo on this prestigious honour.

Continue reading “Noble Prize for Economics validates the importance of Auction Theory”

Atmanirbhar Bharat series

Achieving Atmanirbhataya in oilseeds – 2

In the earlier part we saw how India went from being self-sufficient & over four decades to become the largest importer of edible oil in the world. In this part we explore various options available for the country to increase its production of oilseeds to reduce its imports of edible oil.

Continue reading “Atmanirbhar Bharat series”

Self-reliant India/Atmanirbhar Bharat

(Atmanirbhar (atma: self ; nirbhar: reliant) Bharat : Self-reliant / Self-sufficient India)

Prologue

The Honorable Prime Minister of India has set a commendable goal for all of us i.e. to be a self-reliant nation (Atmanirbhar Rashtra). Self-sufficiency in producing our own food to meet the needs of a burgeoning population is an absolute necessity. NCDEX eMarkets Limited (NeML) has always supported the Government Initiatives to support both the Small holder Farmers (SHF) and the needy people who depend on the Government to meet their daily needs. The company does this by leveraging its e-markets and services platform for enhancing the efficiency of the procurement and sales.

Continue reading “Self-reliant India/Atmanirbhar Bharat”