Tuesday July 23, 2019
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Madhya Pradesh Waives off $5.3Bn in Farm Debt

The western state of Maharashtra and northern state of Uttar Pradesh, both ruled by the BJP, announced similar loan waivers last year.

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India, farmers, farm
Farmers march towards the parliament house during a rally to protest soaring farm operating costs and plunging prices of their produce, in New Delhi, India. VOA

The new leader of the Indian state of Madhya Pradesh is to waive up to $5.3 billion of farm loans, becoming the latest area to offer relief ahead of a national election next year as farmers reel from losses caused by falling crop prices.

Prime Minister Narendra Modi’s Hindu nationalist Bharatiya Janata Party lost the central state to Congress last week dealing Modi his biggest defeat since he took office in 2014 and boosting the opposition ahead of the vote next year.

Congress leader Kamal Nath, who became chief minister of the state on Monday, decided to write off farmers’ loans up to 200,000 rupees, according to a notification.

farmers, Bank
Police try to stop farmers during a protest demanding a better price for their produce on the outskirts of New Delhi, India. VOA

Protests on the rise

Farmers’ protests have been rising in past months due to the fall in crop prices and a rise in the cost of diesel and fertilizer.

Nearly 3.4 million farmers will benefit from the loan waiver, which is likely to cost between 350 billion rupees ($4.9 billion) to 380 billion rupees ($5.3 billion), Rajesh Rajora, the state’s principal secretary for agriculture, told Reuters.

Also Read: Arvind Kejriwal Accuses Modi Government of Betraying Farmers

The western state of Maharashtra and northern state of Uttar Pradesh, both ruled by the BJP, announced similar loan waivers last year. (VOA)

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Flipkart Revamps its Seller Onboarding Process to Help MSMEs: Report

These regional teams, based in cities such as Lucknow, Coimbatore and Jaipur, cater to sellers in over 4,30 pin codes

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Flipkart on Monday announced it has revamped its seller onboarding process to ease the first-time e-commerce experience for medium and small businesses (MSMEs).

The e-tailer has also stationed 13 regional teams across the country to help onboard sellers in person, by meeting with them at their premises.

These changes to the onboarding process will make it easier for small sellers, who may not have prior digital expertise, to list their products on the platform and access Flipkart’s pan-India base of over 150 million customers.

“By revamping our onboarding process and simplifying the number of steps, we are making it easier for any seller, no matter the size, to list on our platform and get started from day one,” said Nishant Gupta, Head of Flipkart’s Marketplace business.

Flipkart Buys Back Shares Worth $350 mn.
New e-commerce norms to impact e-tailers: Flipkart. 

Currently, e-commerce accounts for less than three per cent of India’s overall retail industry. Government estimates suggest there are roughly 60 million MSMEs in India, many of whom are restricted to their local markets due to difficulties in accessing resources.

Flipkart has also added regional teams in various Tier II and beyond cities to help sellers sign onto the platform.

Also Read: Redmi Teases First 64MP Smartphone with Camera Sample

These regional teams, based in cities such as Lucknow, Coimbatore and Jaipur, cater to sellers in over 4,30 pin codes.

“As a home-grown company, we know that the future of e-commerce lies in bringing more MSMEs and smaller businesses online which, in turn, will generate employment and investment, and will meaningfully contribute toward the country’s socio-economic development,” added Gupta. (IANS)