FDI in retail will help farmers, consumers: PM Manmohan Singh

December 8, 2012
manmohanFDI

Ludhiana, December 8: A day after winning Parliament's approval to the decision of allowing FDI in retail, Prime Minister Manmohan Singh on Saturday said the move will benefit farmers and consumers and help introduce new technologies in agri marketing.

He also said the decision to allow FDI was "supported" by farmers' organisations in Punjab.

Speaking as a chief guest at Punjab Agricultural University's golden jubilee function here, he said FDI in retail will help introduce new technologies in agri marketing, and will "benefit farmers and consumers".

The decision to allow FDI was backed by farmers' organisations in Punjab, he said at the PAU function, where he was honoured with a Doctor of Science degree.

Government had on Friday won the approval of Parliament to its controversial decision of allowing FDI in multi-brand retail with a motion against it being defeated convincingly in Rajya Sabha, as BSP voted in favour of UPA. 123 members had voted against the motion while 109 voted in favour after a debate during which the opposition had attacked the proposal to allow 51 per cent FDI in multi-brand retail, while the government had strongly justified it saying it was in the best interest of the country.

Speaking at the university, Singh asked leading farm varsities like PAU to gear up to meet the existing and future challenges in the agriculture sector.

He said agriculture supply chains in India are fragmented and stressed the need for development of efficient and vertically integrated supply chains.

Stressing that investments in backend infrastructure can help cut down loss of perishable crops, he asked Punjab "to take the lead in best practices of crop management".

Singh also hoped that Punjab will fare better as 12th five-year plan has for the country as a whole "targeted 8.2 growth in the GDP and 4 per cent in agriculture".

Expressing concern over exploitation of ground water in Punjab, the Prime Minister said it far exceeds what can be recharged.

"80 per cent development blocks have been categorised as over exploited," he said, adding that the challenge for sustainable agriculture was to help farmers take up diversification.

Even though the rice-wheat cropping pattern is profitable, it has led to over-exploitation of the water, he noted.

Singh said gradual phasing or shifting to other crops as well will not affect overall food security of the country and pointed out that in addition to states like Punjab, eastern and central parts of the country together with leading agrarian states, can help ease the burden of food security.

For crop diversification, he said state like Punjab can take up alternative crops like maize, cotton, sugarcane, oilseeds, besides fruits and vegetables.

He also made a mention of the Centre's National Food Security Mission launched five years back and said the efforts under it were producing results.

The Prime Minister asked farm varsities like PAU to also gear up to face the challenges posed by the climate change.

"Rising temperatures will also have negative effects on productivity," he said, adding current varieties of wheat can also be hit by the climate change.

Asking PAU to develop varieties that are resistant keeping the climate change in mind, he said, "We must deal now with the expected threats that appear on the horizon."


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News Network
May 12,2020

New Delhi, May 12: A total of 12 special evacuation flights from across the globe will bring home stranded Indians on the sixth day of 'Vande Bharat Mission' on Tuesday.

The special flights include Air India flight from Manila to Ahmedabad, London to Hyderabad, Newark-Mumbai-Ahmedabad, AI flight from Singapore to Delhi, AI flight from Dhaka to Srinagar, Dammam to Kochi, Kuala Lumpur to Mumbai, Manila to Delhi, Muscat to Chennai, Dubai to Kannur, Dubai to Mangalore and Singapore-Bengaluru-Kochi.

Amidst the coronavirus pandemic, India is conducting 'Vande Bharat' Mission -- its biggest ever repatriation exercise since independence -- to bring back stranded Indians from abroad, including from the US, the UAE and the UK.

On the fifth day of Vande Bharat Mission, as many as 1,667 Indian nationals were repatriated from different countries in eight special flights.

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News Network
March 13,2020

Mumbai, Mar 13:  Investor wealth worth nearly Rs 12 lakh crore was wiped out in less than 15 minutes of trading on the stock exchanges on Friday, with the two benchmarks, the BSE Sensex and the NSE Nifty, crashing over 10 per cent.

The 30-share BSE Sensex plummeted 3,380.59 points, or 10.31 per cent, to 29,397.55. It hit an intra-day low of 29,388.97, falling up to 3,389.17 points.

Trading was halted for 45 minutes in the early session after the index hit its lower circuit limit.

The BSE and NSE benchmark indices, however, pared most losses with the Sensex trading 835.40 points, or 2.55 per cent, lower at 31,942.74, and the Nifty was down 253.25 points or 2.64 per cent at 9,336.90 at 10.40 am.

The mayhem on Dalal Street eroded investor wealth worth Rs 12,92,479.88 crore, taking the total m-cap to Rs 1,12,78,172.75 crore on the BSE at 1020 hours.

The m-cap of BSE-listed companies stood at Rs 1,25,70,652.63 crore at the end of trading on Thursday.

Traders said besides global selloff, incessant foreign fund outflows also weighed on investor sentiments.

On a net basis, foreign institutional investors sold equities worth Rs 3,475.29 crore on Thursday, data available with stock exchanges showed.

On the BSE, 1,279 scrips declined, while 193 advanced and 40 remained unchanged.

Volatility heightened in global markets as benchmarks world over went into panic mode, insinuating a freakish selloff.

Bourses in Shanghai dropped over 3.32 per cent, Hong Kong 5.61 per cent, Seoul 7.58 per cent and Tokyo cracked up to 7.97 per cent.

Wall Street lost 10 per cent in overnight trade.

More than 1,30,000 cases of the novel coronavirus have been recorded in 116 countries and territories, killing at least 4,900 people.

The number of coronavirus patients in India has risen to 74, as per the health ministry.

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News Network
January 22,2020

New Delhi, Jan 22: Defence Minister Rajnath Singh on Wednesday said Indian values consider all religions equal, and that is why the country is secular and never became a theocratic state like Pakistan.

Speaking at the NCC Republic Day Camp in Delhi, Singh said: "We (India) said we would not discriminate among religions. Why did we do that? Our neighbouring country has declared that their state has a religion. They have declared themselves a theocratic state. We didn't declare so."

"Even America is a theocratic country. India is not a theocratic country. Why? Because our saints and seers did not just consider the people living within our borders as part of the family, but called everyone living in the world as one family," the minister said.

Singh underlined that India had never declared its religion would be Hindu, Sikh or Buddhist and people of all religions could live here.

"They gave the slogan of 'Vasudev Kutumbakam' -- the whole world is one family. This message has gone to the whole world from here only," he added.

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A Member of Va…
 - 
Thursday, 23 Jan 2020

 

Very thoughtful and eye-catching statement by Defense Minister, Rajnath Singh.

Sir, I kindly request you to convey this beautiful message to your Party’s comrades, who are deprived of this dosage for long times and are badly need of this.  

Also, for those from your Party, who are, time and again, spitting the venomous rhetoric against Dalits, Muslims, Christians and others alike.

Yashwant Sinhaji is now doing a wonderful job in this regard.

You will also follow his suit for sure in the days to come; that’s what your honest statement indicates.

    

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