Monday, February 28, 2011

Budget Buzz: Allocation of 300 crore To Promote Pulses Will Boost Domestic Production

Capital Market / 13:59 , Feb 28, 2011

The proposal will help us to attain the self sufficiency in pulses as we are still importing the portion of pulses from other countries . India is currently importing around 2-3 million tonnes of pulses from its annual requirement of 17.5-18 million tonnes. The domestic consumption is estimated to rise by 8% in 2010-11.
The proposal to allocate 300 crores in major rainfed areas such as north and north-east regions is the continuation of previous budget allocation for pulses. It will enhance the production of pulses in the country. The result is also seen in current year as in the latest second advance estimates of Ministry of Agriculture, India pulses production to 16.5 million tonnes in the current year (2010-11). Allocation of 300 crore to bring 60,000 hectares under oil palm plantations.Initiative to yield about 3 lakh Metric tonnes of palm oil annually in five years.

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