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PREPARED
SHEEBA YASEEN MANMEET PRADEEP M.B.A II SEM
BY
GROWTH RATE
Economic growth is the increase in value of the goods and services produced by an economy. It is conventionally measured as the percent rate of increase in real gross domestic product, or GDP. Growth is usually calculated in real terms, i.e. inflation-adjusted terms, in order to net out the effect of inflation on the price of the goods and services produced.
HIGHLIGHTS.
Custom duty reduced from 5% to 2.5% on agriculture based sectors Farm credit Rs. 375000 crores(up by rs.50000 crores) Agriculture Credit has been increased from Rs.3,75,000 crores to Rs.4,75,000 crores. National Mission for Sustainable Agriculture Mega Food Parks Storage Capacity and Cold Chain Union Budget 2011-12 is likely to undertake measures to ease such constraints in the form of reforms in Agriculture & Infrastructure sector. 1. Larger Investments in Agriculture sector, 2. Steps towards reduction in essential commodities hoarding, 3. Investment in R&D in agriculture. 4. Irrigation and water management 5. Related to agriculture inputs
Scarcity of input water. Shortage of agricultural labour because of NREGS. Shortage of organic manures in spite of rising demand. Feed problems of diary and farm animals and poultry birds. Mounting overdue of farm loans and failure of cooperatives. Climate related crop failures and outbreak of diseases.
CONTINUED
Mental trauma of the farm families in combating economic reform. Rising cost of living and deficit family budget. Uncertainly of the cropping system and changing package of practices. Confuse in the channel of marketing aid loss of market during harvesting. Widening gap of income between farmers and non-farmers.
Benefit of 5% concessional customs tariffs on particular agricultural equipment not created in India Tax exemption from central excise tariff on particular equipment for conservation and processing of agriculture and associated sectors Service tax exemption on the testing and documentation of agricultural seeds Service tax exemption on the transportation of cereals and pulses by rail and road.
AGRICULTURAL IMPACT
An allocation of Rs 10.62 bn for National Horticulture Mission. An allocation of Rs 13.50 bn for National Food Security Mission. An allocation of Rs 10.00 bn for Macro Management in Agriculture. An allocation of Rs 10.00 bn Micro Irrigation. An allocation of Rs 9.50 bn for National Agricultural Insurance Scheme