Govt. to promulgate fresh ordinance on Land Bill
Even as the opposition to the Land Acquisition Bill continues in different quarters, the NDA government is determined to bring to Parliament its amended Bill through a fresh Ordinance. The amended NDA
Hindu
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Plots for 51 Haryana units
A high-level allotment committee of the Haryana Government on Wednesday cleared allotment of industrial plots to 51 units in various industrial estates developed by The Haryana State Industrial and Infrastructure Development Corporation. The committee is headed by P.K. Chaudhery, Principal Secretary and Financial Commissioner for Industries and Commerce. Mr. Chaudhery said that these projects when implemented would catalyse an investment of Rs.2,300 crore besides providing direct employment to more than 5,000 people. These plots have been allotted in Growth Centre Bawal Phase II and industrial estates at Barhi and Saha in Sonepat district and Ambala respectively. HSIIDC Managing Director Rajeev Arora disclosed that the allotments had been made in diverse fields .
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Tikait-led farmers' team meets Pawar
Addressing concerns: Bharatiya Kisan Union leader Mahendra Singh Tikait addressing a mahapanchayat of farmers at Jantar Mantar in New Delhi on Wednesday. Bharat Kisan Union leader Mahendra Singh Tikait on Wednesday led a high-power delegation of farmers' representatives from various States to meet Union Agriculture and Food Minister Sharad Pawar. The delegation sought relief from debts for farmers and higher minimum support price for wheat and paddy. "If the government is giving a tax holiday to Special Economic Zones, then why should there not be debt relief for farmers who are responsible for the food security of the country?' the delegation asked the Minister. Separately, an all-party delegation from Karnataka comprising, among others, Union Ministers K.H. Muniyappa, M.V. Rajashekaran, Oscar Fernandes, Deputy Chairman of the Rajya Sabha K. Rahman Khan and the former Minister, Ananth Kumar, met Mr. Pawar. They sought payment of sugarcane arrears to farmers and a higher statutory minimum price for sugarcane. Speaking to The Hindu, Mr. Tikait said they had asked for a loan waiver, higher remunerative prices and MSP for commodities. "The Commission for Agriculture Costs and Prices must take into account the lease amount/cost of farm land farmers own and their families' labour input while computing MSP. It should include 50 per cent profit so that the farmers have some income in hand.' Mr. Tikait said the delegation
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Judicious use of available space means more income
Mr. P.G. Jayachandran of Thrissur district in Kerala in his farm. Generating a better income from a limited area is an art, especially in farming operations, where judicious use of available space is an important factor. Very fewfarmers who practise integrated farming succeed in generating a good income from it. Managing successfully Mr. P.G. Jayachandran of Thrissur district in Kerala seems to be case in point. He has been successfully able to manage both crops and animal husbandry in his seven acre farm and integrate the different components into a single unit. He has a dairy unit of nine cows, with a daily milk production of about 60 litres. A part of the milk is sold to a milk society and the rest is used for making value added products such as buttermilk and ghee. Organic manures Fodder grass for the cattle is raised as an intercrop in his farm and coconut oil cake is used as feed for the animals. Organic manures such as cattle manure are the main source of nutrients for his crops. He also has a collection of Malabari, Jamnapari and Sannan goat breeds which are mainly used for kid production. A piggery unit comprising large White Yorkshire and Landrace breeds, is primarily used for utilisation of agricultural waste. The piggery unit provides him considerable income without much expenditure, according to Dr. Sabin George, Assistant Professor (Animal Husbandry), Krishi Vigyan Kendra (KVK), Thrissur. Back yard poultry with about 50 layer birds of Gramalakshmi and Rhode Island Red breeds yield about 40 eggs daily which are sold in the market. In addition, he also has turkey, quail and guinea fowl. Good demand He has about 200 coconut palms, yielding 150 nuts a year, a part of which is used for seed nut production for his own nursery. The remaining nuts are used for production of coconut oil which has a good demand at his farm itself. He earns aboutRs. 1lakh a year from coconuts alone, after meeting all the expenses. According to Dr. T.N. Jagadeesh Kumar, Associate Professor, KVK, Thrissur, the different enterprises in his farm are arranged systematically to encourage maximum utilization of land and resources and integration of various components. Plantation crops such as rubber, coconut, and arecanut occupy the prime area of the farm. Other crops such as vegetables, banana, pepper, cocoa, colocasia, elephant foot yam, and yams are intercropped, wherever feasible. The animal sheds are situated at the middle to facilitate transport of manures to all parts of the farm. Water harvesting Water harvesting devices (tanks lined with silpauline sheets) are located at an elevation which permits gravitational flow of water to all parts of the farm. Fish varieties such as Rohu, Catla, Grass carp and Mrigal are bred in a twenty-five cent pond in the farm, and the slurry used for irrigation. In addition, Mr. Jayachandran maintains a biogas plant and vermicompost unit for organic manure production. He raises azolla in shallow tanks for feeding poultry and cattle, which improve the quality of produce. Intercropping The coconut and arecanut gardens are intercropped with banana, colocasia and yams. He has a wide collection - about 15 types of banana. He considers banana as a maximum utility crop since all the plant parts are used - bunches harvested, suckers sold and the pseudostem used for mulching and vermicompost production. Banana cultivation, mostly intercropped, alone gives him an annual return of Rs.85,000. The farmer also has about 50 nutmeg trees, intercropped with garcinia, and coffee. Part of the garcinia and coffee is used for home consumption and the balance, marketed. He maintains a nursery in his farm where good quality seedlings of all the crop varieties grown and sold. Readers can contact Mr. P. G. Jayachandran, Puthuppally House, Kaniarkode Post, Pin 680 659 Thiruvilwamala Via, Thrissur 680 594 and Dr. T N. Jagadeesh Kumar, Associate Professor (Agronomy), mobile: 9447467288 and Dr. Sabin George, Assistant Professor (Animal Husbandry), K.V.K, Thrissur, Vellanikkara, KAU Post, pin 680 656, mobile: 9446203839.
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Sustaining 9 p.c. growth will be tough: Survey
Favours partial sale of profit-making non-navaratna PSUs, and tackling of inflationary impulses Holding out a warning that the current slowdown in the U.S. would have an effect on the Indian economy, the Economic Survey 2007-08 maintained that sustaining a high GDP growth of nine per cent while reining in inflation would be a tough challenge. Tabled in Parliament by Finance Minister P. Chidambaram on Thursday, the Government's pre-Budget annual economic progress report said that in the current uncertain scenario, an increase in the overall growth to double digits would entail additional reforms and came out with a policy prescription. Among the various measures suggested to sustain the high growth momentum, the Survey favoured partial sale of the identified profit-making non-navaratna public sector undertakings (PSUs), phasing out control on sugar, fertilizer and drugs, sale of old oilfields to the private sector, a higher share for foreign equity in retail trade and further opening up of the banking and insurance sectors to foreign direct investment (FDI). With the economy projected to grow at 8.7 per cent during the current fiscal, the Survey pointed out that the lower growth represented a deceleration from the unexpectedly high growth of 9.4 and 9.6 per cent in the preceding two years. "Maintaining growth rate at nine per cent will be a challenge and raising it to two digits will be an even greater one,' the Survey said. Linking the huge accumulation of foreign capital inflows as the reason for the pressure building up on prices, the Survey said that inflationary impulses from global commodity prices must be tackled through use of fiscal and trade policy instruments. Inflation this fiscal is projected to return to the earlier level of 4.4 per cent, down from 5.4 per cent in 2006-07. Deceleration in growth this fiscal appears to have spread across all sectors except electricity, community service and services such as trade, hotels, transport and communications. More significantly, the slowdown in the farm sector growth is attributed to the sluggish trend witnessed in rabi crops. Also, other sectors like manufacturing and construction which grew at 12 per cent in 2006-07 dropped by 2.5 percentage points in the current year. "The slower growth of consumer durables was the most important factor in the slowdown of manufacturing,' the Survey said. As for the external sector, the U.S. economy is expected to slow down in 2008 as a fall-out of the sub-prime mortgage crisis. In fact, most projections of global economies anticipate a moderate and not severe slowdown. "This will impact all countries including India, depending on the importance of the slowdown in different countries and importance of the country in our exports,' the Survey concluded, while pointing out that a further fall in exports to the U.S. might be unavoidable but would be relatively modest. On the flip side, the Survey viewed that one of the implications of the U.S. sub-prime crises would be increased capital inflows into India and other emerging markets. "Thus the situation of excess inflows is likely to remain, though the pressure on reserve accumulation and exchange rate appreciation is likely to ease. Any reduction in excess capital flows from the high levels in 2007 may affect the equity markets in the short-term, but will make the task of monetary management easier,' it said.
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J&K denies mass deaths of Himalayan goats
The Jammu and Kashmir government has denied reports that 600 rare Himalayan goats
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Cautious optimism
The central theme of Economic Survey 2007-08 is maintaining the strong economic growth momentum of the recent period. With the annual GDP growth exceeding 8 per cent since 2003-04, the economy has moved decisively to a higher trajectory. The official forecast of 8.7 per cent for 2007-08 accords with this trend. But the figure suggests a slight deceleration, considering that the first six months of the year recorded a growth of 9 per cent or more. For 2008-09, most official forecasts have pegged the rate at 8.5 per cent or less. The key task is to regain the upward push so that the economy averages a 9 per cent or even higher growth towards the end of the 11th Plan. There are both positive and negative factors that would shape the near-term outlook. Macroeconomic fundamentals continue to inspire confidence. A sharp acceleration in the domestic investment and savings rates has sustained the high growth. Buoyant tax revenues have helped in fiscal consolidation so far. The budget will show if the government's finances are on track to meet the goals set under the Fiscal Responsibility and Budget Management Act. Inflation however remains a major worry. Over the past year global factors, notably the high prices of oil, food and other commodities as also the turmoil in financial markets have clouded the external environment. Appreciation of the rupee and a slowdown in specific segments of industry as well as in infrastructure are some of the other major areas of concern. For sustaining economic growth at high levels, policy makers are up against several challenges. Additional reforms are obviously needed. Capital inflows, especially those relating to direct investment, are expected to continue in the medium-term. Combating inflation has become more complex in the context of recent structural changes in the economy and its increasing globalisation. Among the important factors to be reckoned with are the high tariffs on agricultural products, the large share of food in the consumption basket, and the slow modernisation of agriculture and allied activities. Inadequate availability of infrastructure continues to be a major constraint on the supply side. Highlighting the need to improve social sector and human development outcomes at the level of the States, the Survey lays stress on improved delivery mechanisms for the success of programmes such as the NREGP and Bharat Nirman. In a departure from the past, Survey 2007-08 has sought to provide a more rigorous analysis and a conceptual framework, and has added a new chapter that covers subjects of topical interest. That along with the proposal to release background papers will help in disseminating timely economic information to a larger audience.
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Chidambaram hopeful of 9 p.c. growth
Union Finance Minister P. Chidambaram after presenting the Economic Survey 2007-08 in Parliament on Thursday. With the country's economic fundamentals strong and investment climate full of optimism, Finance Minister P. Chidambaram on Thursday exuded confidence on achieving an average GDP growth of nine per cent during the Eleventh Plan period (2007-08 to 2011-12) while reining in inflation alongside. As for the outlook for 2008-09, Mr. Chidambaram said: "Optimism, but with caution, is the watchword' while commenting on the policy prescriptions of the Economic Survey 2007-08 which projected a lower GDP growth of 8.7 per cent for the current fiscal and, in that light, viewed sustenance of a high growth as a daunting task. Speaking to newspersons immediately after tabling the Survey in Parliament, Mr. Chidambaram pointed out that the country was required to respond to the evolving global economic situation so as to ensure that its growth was not affected and this, he said, could be achieved by capitalising on the opportunity arising from the "favourable' conditions. "I am optimistic about growth and containment of inflation in the coming year [2008-09],' he said, while noting that his priority was to provide a conducive investment climate and manage the macro economy to facilitate non-inflationary growth. Reading out from a prepared statement which was later released to the press, Mr. Chidambaram said: "Keeping inflation under control in an uncertain global environment will be one of the major challenges in 2008-09.' He noted that the current slowdown and possible recession in the global economy posed risks to growth. On the rise in domestic savings and investment, the Finance Minister said: "We are confident of meeting the 11th Plan target of 9 per cent average growth.' The high GDP growth, he said, had benefited the common man as well, as this was reflected by a near doubling of the annual growth rate of per capita consumption to 5.1 per cent in 2007-08 compared to 2.6 per cent for the previous 11 years. "If the rate of growth of per capita GDP continues at the five-year average of 7.2 per cent per year, the average income would now double in a decade instead of a generation or more, earlier,' he said. Expressing concern over the slow pace of growth in the farm sector and bottlenecks in infrastructure development, he stressed the need for mobilising public and private resources for "inclusive' growth. In a note of confidence, the Finance Minister said: "I am optimistic about growth and containment of inflation in the coming year. It will be my priority to continue to provide a conducive investment climate and manage the macro economy to facilitate non-inflationary growth. We have to ensure that the benefits of this growth percolate to the most marginal and vulnerable segments of society.'
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Due allocation for education still an elusive goal
Not only is the United Progressive Alliance far from delivering on its National Common Minimum Programme (NCMP) promise of allocating six per cent of the Gross Domestic Product to education but the allocation also dipped in percentage terms in 2007-08 compared to the preceding year. According to the Economic Survey 2007-08, the Budget Estimates of the expenditure on education stood at 2.84 per cent of the GDP in the current fiscal. In 2006-07, the expenditure as per the Revised Estimates was 2.88 per cent. Though the expenditure on education as a percentage of the GDP in the past two years was higher than the first two years of the UPA rule, it still falls short of the 2.9 per cent achieved in 2002-03 during the National Democratic Alliance regime. In the NCMP, the UPA pledged to raise public spending on education to at least six per cent of the GDP in a phased manner. Starting lower than 2.74 per cent of the GDP in the last year of NDA rule (2003-04), the allocation in 2004-05 was 2.67 per cent. Though it went up to 2.69 in 2005-06 and stood at 2.88 per cent in the Revised Estimates for 2006-07, the allocation is still below the halfway mark of the promised target. Last year the Planning Commission, in fact, said India could hope to achieve the target
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Face infrastructure challenges squarely to sustain growth'
While pointing out that the overall performance of the infrastructure sector of late has been
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A good scheme, but not good enough'
The two major farmers' organisations in the State, the Karnataka Rajya Raitha Sangha (KRRS) and the Karnataka Prantha Raitha Sangha (KPRS), have welcomed the loan waiver scheme for small and medium farmers announced in the Union Budget, but have made it clear that it falls far short of addressing the serious agricultural crisis that they say the State is in. "A positive step, but incomplete,' is how G.C. Byya Reddy, General Secretary of the KPRS, described Union Finance Minister P. Chidambaram's scheme that offers to waive the crop loans taken from commercial banks, regional rural banks and cooperative credit institutions by small and marginal farmers up to March 31, 2007; and for other farmers offers a one time settlement scheme on loans overdue on December 31, 2007 with a 25 per cent rebate if the remaining 75 per cent is paid. "The loan waiver should have been extended to all sections of farmers other than big landlords as it is only a very small section of small and medium farmers who get loans from banks. A majority of them borrow from informal sources as banks do not consider them creditworthy,' Mr. Reddy told The Hindu. Only 26 per cent of the total farming community is covered by institutional credit, he said. Input costs "Not bad but not good either,' KRRS president K.S. Puttanaiah told The Hindu. "The Budget will not stop farmers from committing suicide as it does not address the problem of increasing cost of inputs, labour and other expenses that are pushing up the cost of cultivation and of living for the farmers. There is no talk of an agricultural policy,' he said. ] According to him, an estimated 10 lakh to 15 lakh agricultural families would be benefited by a crop loan waiver of about Rs. 15,000 crore. "However, this is only a temporary solution, not a permanent one,' he said.