FOOD INFRASTRUCTURE:

The Finance Minister’s announcement that modern storage infrastructure, such as silos would be eligible for “viability gap” funding is also a good initiative  to encourage modern storage practices, as  currently post harvest losses are estimated at 500 billion rupees ($11 billion) due to poor storage practices. Along with this, the finance minister has also reduced customs duty to 2.5 % on the import of all cold storage equipment which is seen by the industry as a complete package of relief provided to this sector.”

AGRICULTURE

“Increasing the agricultural credit limit to 4.75 trillion rupees ($104 billion) for farmers, the interest subvention to farmers paying their loans on time and capital infusion to NABARD (National Bank for Agriculture and Rural Development) are progressive steps. The subsidy in the fertilizer sector and reduction in customs duty on micro-irrigation products will also boost agri-productivity.”

February 28, 2011: 

I-T exemption limit raised to Rs 1.80 lakh from Rs 1.60 lakh .

Exemption for senior citizens raised to Rs 2.5 lakh

Tax under women slab unchanged.

Tax exemption raised to Rs 5 lakh for senior citizens of 80 years.

To increase service tax on air travel

Excise and customs duty proposals to result in the net gain of Rs 7,300 crore.

Export duty rates on iron ore unified and kept at 20% ad valorem.

Basic customs duty on agricultural machinery reduced to 4.5% from 5%

Basic customs duty on raw silk reduced from 30 to 5 per cent

Excise and customs duty proposals to result in the net gain of Rs 7,300 crore

Nominal one per cent central excise duty on 130 items entering the tax net. Basic food and fuel and precious stones, gold and silver jewellery will be exempted.

Peak rate of customs duty maintained at 10% in view of the global economic situation.

Customs duty exemptions for hybrid auto parts.

Nominal one per cent central excise duty on 130 items entering the tax net. Basic food and fuel and precious stones, gold and silver jewellery will be exempted.

Standard rate of central exercise duty maintained at 10%.

Central government debt in proportion to GDP will be 44.2% in 2011-12.

20% export duty on all grades of iron ore.

Basic customs duty reduced on certain textile products

No change in service tax rate of 10%.

No change in central excise duty.

Plan to levy 1% on 130 consumer items.

Revenue deficit fixed at 2.3 per cent in revised estimates of 2010—11 and 1.8 per cent in 2011—12,

Total plan expenditure will go up 100 per cent in nominal terms in the next year

15% tax on dividend for Indian cos from foreign unit.

Direct Tax proposals result in expenditure of Rs 11,500 cr.

To reduce surcharge on domestic companies to 5% from 7.5%

MAT rate hiked to 18.5% from 18%.

MAT on developers in SEZs to be levied.

Fiscal deficit revised to 5.1% from 5.5% for FY’11

Total expenditure raised by 13.4% at Rs 12.57 lakh cr over budget estimates

Gross tax receipts estimated at 9.32 lakh cr for FY 2011-12

Bill to amend India Stamp Act soon.

Budget allocation of Rs 100 cr for Ladakh and Rs 150 cr for Jammu for implementation of projects identified by taskforce

Old age pension to persons of over the age of 80 raised from Rs 200 to Rs 500

Health allocation up by 20% to R 27,600 cr.

Rs 9- lakh ex-gratia for defence personnel for 100% disability fighting Left-wing extremism.

To set up 15 more mega food parks.

Remuneration of anganwadi workers raised from Rs 1,500 to Rs 3,000 per month. Helpers to get Rs 1,500 from Rs 750

Tax free bonds of Rs 30,000 cr to be issued for infrastructure development. This will cover Warehousing Corporation, NHAI, IRFC and Hudco.

Allocation under Rashtriya Krishi Vikas Yojana to be raised from Rs 6,755 crore in the current year to Rs 7,860 crore.

Rs 50 cr grant to Aligarh Muslim University centres in Murshidabad in West Bengal and Malappuram in Kerala.

Rs 200 cr for environmental remediation programme.

Age for pension eligibility reduced from 65 years to 60 years under Indira Gandhi Yojana scheme

To move insurance, pension and banking bills in Parliament

Rs 500-cr for National Development Fund.

Rs 400-cr as one-time grant for IIT-Kharagpur.

Move to set up State Innovation Councils underway.

Allocation to education sector raised to Rs 52,000 cr

Scholarship scheme for SC/ST students in classes iX, X.

Increase in allocation to higher education

Increase in remuneration for Anganwadi workers from Rs 1,500 to Rs 3,000 per month.

Plan 17% increase in social sector spending.

To introduce Food Security Bill

Tax free bonds of Rs 30,000 cr to be issued for infrastructure development. This will cover Warehousing Corporation, NHAI, IRFC and Hudco.

Fertiliser industry to be included under infrastructure category.

New companies bill to be introduced.

GoM to be set up to deal with corruption

Five-fold strategy to deal with black money.

Mega cluster for leather products to be introduced.

Existing interest subvention scheme on short term farm loans at 7 % interest to continue.

Self-assessment in customs to be introduced.

Credit flows to farmers raised from Rs 3.75 lakh crore to Rs 4.75 lakh crore.

Constitution Amendment Bill for introduction of GST in this session.

Goods and Services Tax Bill this year.

Direct Taxes Code Bill likely to be passed by Parliament next financial year after getting Standing Committee report.

Public Debt Management Agency Bill in the next fiscal.

Indian mutual funds to get direct access to foreign markets; FIIs to be allowed to invest in MFs.

To liberalise FDI policy further.

To extend infra tax breaks to fertiliser sector.

To set up microfinance equity fund.

Government to move towards direct cash transfer of cash subsidy as regards kerosene, LPG and fertilisers from March 2012 for BPL in view of large diversion.

3% interest subvention to farmers who repay in time.

Nabard capital base to be increased by infusing Rs 10,000 cr

Rural housing fund increased to Rs 3,000 cr

Banks asked to step up lending to agriculture.

Allocation under Rashtriya Krishi Vikas Yojana to be raised from Rs 6,755 crore in the current year to Rs 7,860 crore.

Budget proposes to raise housing loan limit from Rs 20 lakh to Rs 25 lakh for priority sector lending.

Allocation for farm development hiked to Rs 7,860 cr.

Rs 300 cr proposed to promote production of cereals.

Indian micro-finance equity with SIDBI to be formed at Rs 100 crore.

Rs 6,000 cr to be given to public sector banks to maintain capital-to-risk assets ratio norms

RBI to bring in new guidelines for banking licences.

Aiming Fiscal deficit of 3% by fiscal 2014

Central electronic registry to reduce fraud cases.

FII investment limit for infra corporate bonds hiked to $40 billion.

Discussions on to further liberalise FDI policy.

Preparation of GST rollout in final stages.

Microfinance equity fund of Rs 100 cr proposed.

Govt committed to hold 51% in PSUs.

Rs 3,000 cr to Nabard for handloom societies.

Women self-help group development fund to be set up.

Direct transfer of subsidy for kerosene.

Goods and Services Tax Bill to be introduced in Parliament this year.

Direct Tax Code Bill likely to be passed by Parliament next financial year after getting Standing Committee report.

Disinvestment target at Rs 40,000 cr.

Direct Tax Code from April 2012.

SEBI-registered MFs to be allowed direct access to foreign funds.

Expect RBI to moderate inflation.

Public Debt Management Agency Bill to be introduced next financial year.

Current account deficit and average inflation in 2011-12 likely to be less than current year.

FDI policy review done in Sept 2010.

Economic growth in 2011-12 likely to be 9 per cent.

Admits large-scale diversion of kerosene.

Introduction of DTC will be a watershed moment.

Debt managment bill to be introduced.

Constitutional Amendment Bill on GST to be introduced.

Expect agri sector to grow at 5.4% in 2011.

Growth in 2010-11 broad-based.

Economy resilient to shocks.

RBI measures will further moderate inflation.

GDP estimated growth at 8.6% in real terms.

New dynamism in rural economy.

Core inflation in check.

Current account deficit is at 2009-10 levels, and is a matter of concern.

Huge difference in wholesale and retail prices not acceptable.

Total food inflation down from 20.2 per cent last year to 9.3 per cent in Jan

Revival in private investment should be sustainable.

Service growing in double digits.

Need to reconcile legitimate environmental concerns with developmental needs.

Food Inflation has declined by half, but still a matter of concern.

Wirefoot Internet retail expo concluded on 29th January 2011. Following presentation delivered by undersigned at the event is an academic exploration on the logistic perspective for Internet Grocery retail. If I were to summarize the presentation it would be.

Internet improves the information flow across the supply chain. But for an enterprise to succeed in Internet Grocery Retail business, SEAMLESS INTEGRATION of internal / external entities through STREAMLINED physical distribution of products and cash management is more important.

Competent AgriSolutions Pvt Ltd, my company, is pleased to inform that our business Omnivent Techniek of The Netherlands, the World leaders in agri-produce storage solutions, shall be participating in our forthcoming 3rd International Horti Expo 2011, scheduled to be held from 7th to 9th January 2011 at Pragati Maidan, New Delhi, India.

Those seeking ‘state of the art’ storage solutions for farm produce like Onion, Potato etc, whether as green field projects or modernization of existing ones, are cordially invited to join us for discussions.

The Omnivent advantage……

Active all over the world, Omnivent is specialist in development, manufacturing and installation of modern ventilation and climate technology for storage of agricultural produce like Onion, Potatoes, Carrots etc.

The power of Omnivent lies in the well-thought storage concepts. Whether green field projects or renovation of existing cold stores, Omnivent’s approach is to work out a design as per client’s specific product and climatic specific needs. Omnivent offers a complete package of services, right from first draft to final implementation – from design to ROI.

With a large network of dealers and qualified business associates around the World, Omnivent operates from its main establishments in the Netherlands and Poland. Omnivent is present practically all over the World where agricultural produce has to be stored. Because of its deep and wide experience, Omnivent has amassed extensive specialist knowledge, particularly in arable farming, bulb growing and horticultural sector in addition to mastering climate control technologies.

To schedule one on one discussion with experts please call me at +91-98118-14559 or drop a line at anil.chopra@agrisolutions.in

I want to take a moment and extend my warmest wishes to all for 2011.

New Year’s Day! It is on this day that we put up a new calendar and celebrate the change from one year to the next. It is a day that definitively marks change, and that’s what life is all about.

Change is a funny thing. We often think of change in terms of positive or negative, good or bad, for the better or for the worse, but those are really just a matter of perspective. Sometimes we change the world around us and sometimes the environment changes us. The reality is that change is inevitable and we need to embrace it.

In the past year we have all seen change. We’ve seen change in our personal lives and in the world around us. We have seen births, deaths, friends lost and friends gained. We have persevered through hardship and basked in the glory of personal accomplishments. There are thousands of stories that we could all share.

But since change is inevitable what we need to focus on is being an agent for positive change. This means recognizing that even when the things around us are changing for the worse that we don’t have to let that affect us negatively. It also means that we all have the power to be a force of positive change on the things around us. Even when the odds seem insurmountable we all of the power to make a small change, even it’s in ourselves. It’s that power to make change happen that gives us all control over our own destinies and the power to make everything around us a little bit better.

So as we enter this new decade together let’s ask ourselves, "What kind of change agent I want to be?" Tell yourself, "I have the power to make change happen." Then go forth and use that power to create the life you seek and make the world a better place.

To begin with let 2011 be the Green Year.

YES YOU CAN! 

The Top 10 absolutely greenest, doable New Year Resolutions….

• I resolve to reduce the amount of waste that I generate in my household.
• I resolve to use my car less.
• I resolve to switch over to green versions of my most frequently used household staples.
• I resolve to reduce the amount of meat that I consume each week.
• I resolve to expand my recycling repertoire.
• I resolve to adopt 1 new green habit each month.
• I resolve to think like a greenie.
• I resolve to ask a trusted friend or family member to hold me accountable to my new green goals.
• I resolve to become an active member of a green-themed community.
• I resolve to consider my role as voluntary greenie a privilege rather than a chore.