LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Business News » India News

Farmers' incomes have declined 1.38% since 2014: Yashwant Sinha

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
Farmers' incomes have declined 1.38% since 2014: Yashwant Sinha
Representational image. Image Source: IANS
Written By: IANS
Updated: Wed, Feb 07, 2018
08:47 am
IANS
RELATED NEWS
SC stays implementation of 3 new farm laws, sets up panel to resolve impasse SC stays implementation of 3 new farm laws, sets up panel to resolve impasse
PM Narendra Modi flags off 100th Kisan Rail - Multi-commodity train, no bar on consignment size! PM Narendra Modi flags off 100th Kisan Rail - Multi-commodity train, no bar on consignment size!
Pradhan Mantri Kisan Samman Nidhi scheme: Farmers to get 7th installment on this date | here is how you can check balance through 5 easy steps Pradhan Mantri Kisan Samman Nidhi scheme: Farmers to get 7th installment on this date | here is how you can check balance through 5 easy steps
IFFCO's gift to farmers! Prices of NP Fertilisers slashed - Check new rates IFFCO's gift to farmers! Prices of NP Fertilisers slashed - Check new rates
Financial support to farmers from Modi government! Rs 19,444 cr sanctioned in 1st installment for MSP operations support to these states Financial support to farmers from Modi government! Rs 19,444 cr sanctioned in 1st installment for MSP operations support to these states

Criticising the recent budget announcements of the Narendra Modi government, BJP leader and former Union mMinister Yashwant Sinha on Tuesday said currently there is distress in rural India with farmers` income declining by 1.38 per cent in the last four years.

"There is tremendous rural distress and it is not merely because agricultural growth rate has declined. The distress is because the farmer is actually getting one third or 50 per cent of the price of his produce when compared to the minimum support price," he said in an event organised by Calcutta Chamber of Commerce.

Citing a study, he said the agricultural growth rate during the last four years of the present Narendra Modi government was 1.9 per cent annually compared to 3.8 per cent in the first four years of UPA government.

Sinha said agriculture value added has also declined and doubling of farmers` income by 2022 as envisaged by the ruling government seems a "distant reality".

"In the last four years, farmers` income has declined by 1.38 per cent. Instead of increasing their income, it has gone down. So, when we are talking about doubling it by 2022, I would say the last four years have been lost. We are already in 2018, what shall be done in the next four years?"

He also said the budget paper is a "sacred document" and every proposal in the budget must be backed by financial provision and otherwise, it will become election manifesto.

"What is the difference between election manifesto and budget document? In an election manifesto, you make promises without having mentioned the cost and where from the money is going to come. In the budget, you can`t do that," he said, adding there is no token financial provision for ensuring higher farmers` income.

"The promise made in 2014 in the election manifesto is that we should give 50 per cent more to the farmers than their cost of production."

Taking a dig at the Modi government, Sinha said he had expected on the highest priority basis, the government would deal effectively with the growing non-performing assets of the banks and expedite a large number of projects which were held up due to policy paralysis.

"We should have hit the ground running and dealt with these two issues on highest priority basis. We should not have waited for four years for bank recapitalisation...there has been some movement on stalled projects and the value of the stalled projects have come down but the backlog has not been eliminated. That is why sectors are in stress," he said.

Citing typos in Finance Minister Arun Jaitley`s budget speech, he said: "If you are not applying your mind to the budget speech, it has only one conclusion that you have not applied your mind to the budget itself."

He also said the new indirect tax system - Goods and Services Tax (GST)- has been made "complicated".

"It is still a work in progress. Various amendments are going on in respect to tax rate and procedure and filing," Sinha added.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Farmersfarmers incomeUnion BudgetYashwant SinhaPM Narendra ModiEconomy
RELATED NEWS
SC stays implementation of 3 new farm laws, sets up panel to resolve impasse SC stays implementation of 3 new farm laws, sets up panel to resolve impasse
PM Narendra Modi flags off 100th Kisan Rail - Multi-commodity train, no bar on consignment size! PM Narendra Modi flags off 100th Kisan Rail - Multi-commodity train, no bar on consignment size!
Pradhan Mantri Kisan Samman Nidhi scheme: Farmers to get 7th installment on this date | here is how you can check balance through 5 easy steps Pradhan Mantri Kisan Samman Nidhi scheme: Farmers to get 7th installment on this date | here is how you can check balance through 5 easy steps
IFFCO's gift to farmers! Prices of NP Fertilisers slashed - Check new rates IFFCO's gift to farmers! Prices of NP Fertilisers slashed - Check new rates
Financial support to farmers from Modi government! Rs 19,444 cr sanctioned in 1st installment for MSP operations support to these states Financial support to farmers from Modi government! Rs 19,444 cr sanctioned in 1st installment for MSP operations support to these states

LATEST NEWS

Pension Payment Order: Modi government explains how PPO promises ease of living for senior citizens

Master box office collection: Furious! Thalapathy Vijay, Makkal Selvan Vijay Sethupathi movie crosses Rs 100 cr mark in just 3 days

Samsung Galaxy M62: Massive 7,000mAh battery - Check specs, features of the smartphone

EPFO Pension: Your Provident Fund (PF) structure may change soon - Here is why

7th Pay Commission latest news: Salary up to Rs 2.08 lakh plus DA, HRA, TA; check this 7th CPC offer details at upsconline.nic.in

Looking for mid-range budget-friendly laptops? VAIO with Nexstgo launches new series - Prices, specs, features and all you need to know

Big transportation boost! PM Narendra Modi flags off 8 trains facilitating seamless rail connectivity to Statue of Unity

How to save income tax: Want to save up to Rs 46,800? Here is a method and step by step guide for tax-saving

Online shopping: Have e-commerce business? Here is how to give boost to trade in 2021

Amazon.in Great Republic Day Sale: Up to 40% off! Check top deals you can avail

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved