ARC for Agricultural Sector

👉It is a specialized financial institution that buys the Non Performing Assets (NPAs) from banks and financial institutions so that they can clean up their balance sheets.

👉This helps banks to concentrate on normal banking activities. Banks, rather than going after the defaulters by wasting their time and effort, can sell the bad assets to the ARCs at a mutually agreed value.

👉The SARFAESI Act, 2002 provides the legal basis for the setting up of ARCs in India.

👉The Act helps reconstruction of bad assets without the intervention of courts.

👉Since then, a large number of ARCs were formed and were registered with the Reserve Bank of India (RBI) which has got the power to regulate the ARCs.

👉To meet its funding requirements, an ARC can issue bonds, debentures and security receipts.

👉As per the latest Financial Stability Report, June 2021, banks’ gross NPA ratio for the agriculture sector was at 9.8%, whereas for industry and services it was at 11.3% and 7.5%, respectively, At March-end 2021.

👉To improve recovery of bad loans in the agriculture sector, leading banks have made a pitch for setting up an Asset Reconstruction Company (ARC) specifically to deal with collections and recovery of farm loans.

👉With a government-backed ARC having been recently set up to deal with bank NPAs to the industry, this idea has acceptability among banks.

👉Some member banks of the Indian Banks' Association suggested the need for the Central government to bring legislation on agriculture land somewhat like the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002.



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Pradhan Mantri Krishi Sinchayee Yojana

👉The Cabinet Committee on Economic Affairs chaired by the Prime Minister Shri Narendra Modi, has today approved implementation of Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) for 2021-26 with an outlay of Rs.93,068 crore.

👉Launched in 2015, PMKSY is an umbrella scheme, providing central grants to the State Governments for specific activities detailed below.

👉It consists of two major components by the Department of Water Resources, River Development and Ganga Rejuvenation, namely, Accelerated Irrigation Benefits Programme (AIBP), and Har Khet Ko Pani (HKKP).

👉HKKP, in turn, consists of four sub - components, being Command Area Development (CAD), Surface Minor Irrigation (SMI), Repair, Renovation and Restoration (RRR) of Water Bodies, and Ground Water Development.

👉In addition, the Watershed Development part is being implemented by the Department of Land Resources.

👉Another component of PMKSY, Per Drop More Crop, is being implemented by the Department of Agriculture and Farmers Welfare.

👉All the States & Union Territories including North Eastern State**s are covered under the programme.


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Use of Drone in Pesticide Application

👉The**Ministry of Civil Aviation and Directorate General of Civil Aviation** has granted conditional exemption for Remotely Piloted Aircraft System (RPAS) usage to the Ministry of Agriculture and Farmers Welfare (MoAFW).

👉Unmanned aerial vehicles (UAVs), also known as drones, are aircraft either controlled by ‘pilots’ from the ground or increasingly, autonomously following a pre-programmed mission.

👉There are three subsets of Unmanned Aircraft- Remotely Piloted Aircraft, Autonomous Aircraft and Model Aircraft.

👉This will allow MoAFW to use drones for remote sensing data collection in agricultural areas of 100 districts of the country for gram panchayat level yield estimation, under PMFBY.

👉The conditional exemption granted will be valid for one year from the date of issue of the permission letter or until the operationalisation of the Digital Sky Platform, whichever is earlier.

👉This exemption shall be valid only if all conditions and limitations are strictly adhered to.

👉Even though the conditional exemption has been given to MoAFW, it still needs to obtain necessary clearances from the local administration, the defence ministry, home ministry, Indian Air Force and Airports Authority of India.

👉It would help in assessing crop area estimation and losses due to localized calamities and resolving yield disputes between different stakeholders under the scheme.


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State of India’s Livelihood (SOIL) Report 2021: FPOs

👉The State of India’s Livelihood (SOIL) Report 2021 has stated that just 1-5 % of Farmer Producer Organisations (FPOs) have received funding under central government schemes introduced to promote them in the last seven years.

👉Access Development Services, a national livelihoods support organisation has prepared the SOIL report.

👉It has analysed only Farmer Producer Companies (FPC — FPOs registered under The Companies Act, 2013) since they make up a large majority of the organisations started in recent years.

👉The concept of 'Farmer Producer Organisations (FPO)' consists of collectivization of producers especially small and marginal farmers so as to form an effective alliance to collectively address many challenges of agriculture such as improved access to investment, technology, inputs, and markets.

👉The average farm size declined from 2.3 hectares (ha) in 1970-71 to 1.08 ha in 2015-16. The share of small and marginal farmers increased from 70% in 1980-81 to 86% in 2015-16.

👉FPOs can help farmers compete with large corporate entrepreneurs.

👉Social capital will develop in the form of FPOs, as it may lead to improved gender relations and decision-making of women farmers in FPOs.


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Cage Aquaculture

👉Cage aquaculture involves the growing of fishes in existing water resources while being enclosed in a net cage which allows free flow of water.

👉 It is an aquaculture production system made of a floating frame, net materials and mooring system (with rope, buoy, anchor etc.)

👉with a round or square shaped floating net to hold and culture a large number of fishes and can be installed in reservoirs, river, lake or sea.

👉A catwalk and handrail is built around a battery of floating cages.

❇️There are 4 types of fish-rearing cages namely:

i) Fixed cages
ii) Floating cages
iii) Submerged cages
iv) Submersible cages.

👉Economically speaking, cage culture is a low impact farming practice with high returns and least carbon emission activity.

👉Farming of fish in an existing water body removes one of the biggest constraints of fish farming on land, ie., the need for a constant flow of clean, oxygenated water.

👉Cage farms are positioned in such a way to utilize natural currents, which provide the fish with oxygen and other appropriate natural conditions.

👉In view of the high production attainable in the cage culture system, it can play a significant role in increasing the overall fish production in India.

👉 Suitable locations in India's long coastline, vast brackish water areas available in coastal states and other underutilized water bodies can be better utilized by adopting cage culture.

👉Since the investment is low and requires very little / no land area, this farming method is ideal for small-scale fisherfolks as an alternative income source.

👉This can be taken up as a household / women activity since labour involved is minimal and can be managed by a small family.

👉The design of the cage and its accessories can be tailor-made in accordance to the individual farmer’s requirements.

🟠Advantages

👉Many types of water resources can be used, including lakes, reservoirs, ponds, strip pits, streams and rivers which could otherwise not be harvested.

👉A relatively low initial investment is required in an existing body of water.

👉Harvesting is simplified.

👉Observation and sampling of fish is simplified.

👉Allows the use of the pond for sport fishing or the culture of other species.

👉Less manpower requirement.

👉Generation of job opportunities for unemployed youth and women.

👉Additional income to fishers during closed seasons.

🛑Disadvantages

❇️Cage culture also has some distinct disadvantages. These include:

👉Feed must be nutritionally complete and kept fresh.
Low Dissolved Oxygen Syndrome (LODOS) is an ever present problem and may require mechanical aeration.

👉Fouling of the net cage.

👉The incidence of disease can be high and diseases may spread rapidly.

👉Vandalism or poaching is a potential problem.
Navigation issues.

👉Accumulation of unused feed and excreta will lead to water pollution as well as eutrophication.

👉Change in water quality parameters.

👉Conflicts within the local community.

👉Predation by aquatic mammals and birds.
Escapement.

👉Overcrowding of aquatic organisms in cages


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Budget 2022-23

👉There was a sharp increase in public investment and capital expenditure in Budget 2021-22. This Budget (2022-23) will benefit the youth, women, farmers, and the backward classes. The PM Gati Shakti master plan will guide the process.

👉The country is expected to grow at 9.27 per cent.

👉In a major push for digital currency, The digital rupee will be issued using blockchain technology by the RBI starting 2022-23.

👉Income from the transfer of any virtual digital asset shall be taxed at the rate of 30 per cent, plus 1% tax on transaction.

👉This Union Budget seeks to lay the foundation & give a blueprint of the economy over ‘Amrit Kal’ of next 25 years – from India at 75 to India at 100.

👉The gross GST collections for the month of January 2022 are Rs 1,40,986 crore — the highest since the inception of the tax in 2017.

👉Income from Long Term Capital Gains will be taxed at 15%.

👉Corporate surcharge to be reduced from 12% to 7%.

👉Rs 48,000 crores allocated for completion of construction of 80 lakh houses under PM Awas Yojana in rural and urban areas in the year 2022-23.

👉Both Centre and States govt employees’ tax deduction limit to be increased from 10% to 14% to help the social security benefits of state government employees and bring them at par with the Central govt employees.

👉Customs on polished diamonds, gemstones cut to 5%.

👉 Simply sawn diamonds will be exempted. To facilitate export of jewellery through e-commerce, simplified regulations will be in place by June this year.

👉Coming to agriculture, procurement of wheat in Rabi season 2021-22 and the estimated procurement of paddy in Kharif season 2021-22 will cover 1,208 lakh metric tonnes of wheat and paddy from 163 lakh farmers & Rs 2.37 lakh crores will be the direct payment of MSP value to their accounts.

👉Any cess or surcharge on income not allowed as business expenditure.

👉Moving forward on this parallel track, we lay the following four priorities — PM Gati Shakti, inclusive development, productivity enhancement and investment, sunrise opportunities, energy transition and climate action and financing of investments.

👉The Production Linked Incentive Scheme for achieving Atma Nirbhar Bharat has received an excellent response, with potential to create 60 lakh new jobs and additional production of 30 lakh crore during the next five years.

👉A fund with blended capital raised under co-investment model facilitated through NABARD to finance start-ups in agriculture and rural enterprises for farm produce value chain will be set up.

👉States will be encouraged to revise syllabus of agricultural universities to meet needs of natural, zero-budget and organic farming, modern-day agriculture.

👉PM Modi’s development initiatives for the North East will be implemented by the North Eastern Council.

👉This will enable livelihood activities for the youth and women. This scheme is not a substitute for the existing Centre or state schemes.

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