Officials in the weather department said the monsoon is expected to be below normal because of the El-Nino effect.
A five-seven per cent agriculture growth in 2013-14 would mean farming might exceed the 12th Five-Year Plan annual growth target of four per cent, if the trend continues.
The decision, taken by the Cabinet Committee on Economic Affairs headed by Prime Minister Narendra Modi, comes less than a year before next general election.
The minimum support price for the rabi season will not radically alter the falling trajectory of farm incomes
From NITI Aayog to industry leaders to the Reserve Bank of India, all are apprehensive that any major increase in MSP, following the 2018-19 Budget announcements, would push up prices, if not immediately, in the next six to eight months after the decision is taken.
The India Pulses and Grains Association estimates production of kharif pulses at seven mt this year.
Now, government is also contracting imports.
The panel suggests family head must be valued at skilled wage rates.
The agriculture sector is likely to grow in the range of 5.2-5.7 per cent in 2013-14, nearly three times more than the last year as good monsoon has raised the prospects of bumper harvest, a CACP discussion paper said.
Finance Commission has got new team who are committed to growth initiatives.
Critics argue that much more could have been done and that the government was slow to react to many events.
More important is to diversify the country's farm production base.
In view of the volatile situation, the Centre rushed 1,100 personnel of anti-riot Rapid Action Force.
Unless supported by investment, any spark of a recovery could be temporary, hint economists.
'These three commodities have been chosen very well.' 'It is up to the state governments and central government to see how it is implemented.' 'The government has to do some hand-holding.'
Experts say the Bill should include higher-value food items than just cereals
'This announcement is big foolishness.' 'The government has no idea of economics. They are just announcing what comes to their mind.' 'Let them implement what they have announced and just see what will happen in two years.'
Agri experts are meeting FinMin ministry officials on Monday to give their inputs on the Budget.
The reason behind issuing new bank licences is to allow more private sector entities to set up banks
No large nation has done less to feed its millions of poor than India has in the past decade or two since the beneficial effects of the Green Revolution wore off.
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