BUDGET OUTCOMES COMMODITIES :)

·Finance minster reaffirms commitment to introduce GST along with DTC in April, 2011. 🙂

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·A Nutrient Based Subsidy policy for the fertiliser sector has since been approved by the Government and will become effective from April 1, 2010.

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·To extend the green revolution to the eastern region of the country & propose to provide Rs.400 crore for this initiative.

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·Propose to organize 60,000 “pulses and oil seed villages” in rain-fed areas during 2010-11 and provide an integrated intervention for water harvesting, watershed management and soil health, to enhance the productivity of the dry land farming areas.

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·Propose an allocation of Rs.200 crore for launching this climate resilient agriculture initiative.

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·FCI has been hiring godowns from private parties for a guaranteed period of 5 years. This period is now being extended to 7 years.

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·Targets set for agriculture credit flow has been raised to Rs.3,75,000 crore from Rs.3,25,000 crore in the current year.

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·Propose to extend by six months the period for repayment of the loan amount by farmers from December 31, 2009 to June 30, 2010.

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·Provided an additional one per cent interest subvention as an incentive to those farmers who repay their short term crop loans as per schedule.

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·External Commercial Borrowings will henceforth be available for cold storage or cold room facility.

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·Customs duty on silver raised to 1,500 rupees from 1,000 rupees per kg.

Stay Tuned for More updates :)

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