Cabinet approves Nutrient Based Subsidy rates for Kharif Season 2024
Kharif Season for the year 2024 will be from April 1 to September 30, and the tentative budgetary requirement for Kharif season 2024 would be approximately Rs 24,420 crore.
A meeting of stakeholders was held with the primary objective of gathering crucial insights and early assessments regarding the current production outlook of crops for the Kharif 2024 season.
According to initial ground-level reports presented by the stakeholders, Rice & Maize production is expected to be promising for the upcoming season. However, acreage of cotton is expected to be lesser in this season due to crop diversification.
The consultation held Thursday was in continuation of the stakeholder consultation initiative held during the early week of this month.
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The focus of the discussion was the production scenario of cereals and oilseeds along with cotton and sugarcane, ahead of the release of first advance estimates for the Kharif 2024 season, which are scheduled for October 2024.
Key stakeholders, including CRISIL Research, Agriwatch, India Pulses and Grain Association (IPGA), Indian Oilseed and Produce Export Promotion Council (IOPEPC), Indian Sugar Mills Association (ISMA), ICAR-Indian Institute of Oilseed Research (IIOR), Cotton Corporation of India (CCI), Department of Food & Public Distribution (DFPD), Crop Development Directorates of Wheat, Sugarcane, Rice, Oilseeds and Cotton and Department of Consumer Affairs (DOCA) were present in the meeting.
These contributions will be integral to formulating the first advance estimates of these crops. During the meeting, participants shared valuable expertise on a variety of issues, including crop condition assessments and estimation methodologies.
The consultation concluded with stakeholders unanimously emphasising the importance of ongoing collaboration and consistent information sharing between the Ministry and industry experts. The initiative marks a significant advancement toward achieving greater precision in crop production forecasting.
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