Initiatives to Improve Profitability of Agriculture

Current Affairs: Following initiatives have been taken by Government of India to improve the profitability of agricultural profession in India:

current affairs1 – Soil Health Card (SHC) scheme is being implemented under which the farmers can know the major and minor nutrients available in their soils which will ensure judicious use of fertiliser application and thus save money of farmers. The balanced use of fertiliser will also enhance productivity and ensure higher returns to the farmers.

2 – Neem Coated Urea is being promoted to regulate urea use, enhance its availability to the crop and reduce cost of fertilizers application. The entire quantity of domestically manufactured urea is now neem coated.

3 – Parampragat Krishi Vikas Yojana (PKVY) is being implemented with a view to promoting organic farming in the country. This will improve soil health and organic matter content and increase net income of the farmer so as to realise premium prices.

4 – The Pradhan Mantri Krishi Sinchai Yojana (PMKSY) is being implemented to expand cultivated area with assured irrigation, reduce wastage of water and improve water use efficiency.

5 – In addition to the above, Government is also implementing several Centrally Sponsored Schemes – National Food Security Mission (NFSM); Mission for Integrated Development of Horticulture (MIDH); National Mission on Oilseeds & Oilpalm (NMOOP); National Mission for Sustainable Agriculture (NMSA); National Mission on Agricultural Extension & Technology (NMAET); National Crop Insurance Programme (NCIP); Unified National Agriculture Markets; and Rashtriya Krishi Vikas Yojana (RKVY).

6 – The Government undertakes procurement of wheat and paddy under its ‘MSP operations’.

7 – In addition, Government implements Market Intervention Scheme (MIS) for procurement of agricultural and horticultural commodities not covered under the MSP Scheme on the request of State/UT Government. The MIS is implemented in order to protect the growers of these commodities from making distress sale in the event of bumper crop when the prices tend to fall below the economic level/cost of production. Losses, if any, incurred by the procuring agencies are shared by the Central Government and the concerned State Government on 50:50 basis (75:25 in case of North-Eastern States). Profit, if any, earned by the procuring agencies is retained by them.