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Rice industry seeks budget support for exports, agri infra amid surplus stock, price drop
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....ice industry seeks budget support for exports, agri infra amid surplus stock, price drop<BR>Budget<BR>Dated:- 31-1-2025<BR>PTI<BR>Kolkata, Jan 31 (PTI) The Indian rice industry has urged the government to provide incentives and policy support in the upcoming Union Budget to address surplus stock, falling prices, and sluggish exports. The industry also demanded development of modern and better rur....
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....al infrastructure in the budget, particularly irrigation and cold storage facilities. Dev Garg, Vice President of the Indian Rice Exporters Federation (IREF), highlighted a bumper surplus of 500 lakh tonnes which has led to a price decline of 10-15 per cent in both basmati and white rice. Despite the government's recent move to lift restrictions on non-basmati rice exports, shipments have remain....
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....ed weak. From April to now, rice exports have totalled Rs 76,000 crore, significantly lower than last year's Rs 1.14 lakh crore during the same period, he said. "The current quarter is difficult for traders, and exports are unlikely to improve in the next three months. With bumper crop coming in and no space to store, the situation demands government intervention through increased incentives to p....
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....ush exports," Garg said. He called for raising the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme from 1 per cent to 3 per rcent and reintroducing the interest equalization scheme to support exporters. Ricevilla Director Suraj Agarwal stressed the need for rural infrastructure development in the budget, particularly in irrigation and cold storage facilities. He urged incre....
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....ased funding for the Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) to provide long-term irrigation solutions and investments in climate-smart agriculture, drought-resistant crops, and water conservation techniques. "India's agricultural productivity remains below global averages. The budget should promote agri-tech startups, digital tools, IoT-based smart farming, and AI-driven crop management t....
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....o enhance farm efficiency and reduce losses," Agarwal said. He also emphasised the importance of digital literacy programs for farmers to access real-time weather updates, market prices, and government schemes. Agarwal further called for skill development initiatives to boost rural employment in agriculture and allied sectors. "Leveraging opportunities in agri-business, exports, and digitizat....
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....ion can improve farmer incomes and position Indian agriculture for long-term resilience and global competitiveness," he added. PTI BSM NN<BR> News - Press release - PIB....