• News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
  • Editorial Calendar 19-20
BW Businessworld

Govt To Give Farmers Power, Seeds Subsidy In Case Rains Fail

Photo Credit :

The government on Friday (05 June) announced it will offer subsidy on diesel, power and seeds to farmers in case a deficient monsoon affected crops.
Agriculture Minister Radha Mohan Singh on Friday held a meeting with senior officials of the India Meteorological Department (IMD), which earlier in the week had revised the monsoon forecast to “deficient”, triggering drought fears.
Officials from the power, water resources, rural development, food, and fertiliser ministries, among others were also present in the meet.
“We will offer subsidy on diesel, power and seeds to farmers like last year to deal with the drought-like situation,” Singh said after the meeting.
The minister said the government is fully prepared to face a drought-like situation. A nodal officer has been appointed in every department to deal with the deficient monsoon situation.
According to sources, the Centre may continue the Rs 10 per litre diesel subsidy this year as well.
The subsidy on seeds could be up to 50 per cent under different schemes, they added. Similarly, free power could be given to farmers for irrigation.
Earlier this week, Singh had said the Centre was ready with contingency plans for 580 districts and was in touch with the States and farm research bodies to tackle the situation.
A new crop insurance policy would be introduced this year to protect farmers’ income. The Centre would import pulses to improve domestic supplies and check rising prices of pulses.
On June 2, the Met Department revised its forecast from 93 per cent to 88 per cent Long Period Average (LPA), with the north-west region of the country expected to be hit the most.
Last year, the country had received 12 per cent less rains, which hit the production of grains, cotton, and oilseeds.
The growth of agriculture and allied sectors stood at a mere 0.2 per cent in the 2014-15 fiscal.
Foodgrains production declined to 251.12 million tonnes in the 2014-15 crop year (July-June) from a record production of 265.04 million tonnes in the previous year.

Tags assigned to this article:
news 7 agriculture monsoon rains drought radha mohan singh