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We need a second Green Revolution : Modi

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(Photo: IANS)
(Photo: IANS)

Ranchi: Prime Minister, Narendra Modi, on Sunday laid stress on the need for second Green Revolution in the country.

“There is an immediate need of Green Revolution in the country. The Green Revolution should immediately start in eastern India, including Jharkhand, Bihar, eastern Uttar Pradesh, West Bengal, Odisha and Assam,” said Modi.

The prime minister was addressing the people at Barhi, in Hazaribagh district of Jharkhand, after laying the foundation stone of the Indian Agriculture Research Institute (IARI).

IARI-Jharkhand would achieve inclusive agricultural growth through Integrated Farming Systems (IFS) in the region, an official release said here.

The institute will attract the cream of post-graduate and doctoral students from all over India and abroad to conduct region-specific research. The major regional challenges will be addressed by the IARI-Jharkhand, through prioritized thrust areas of research, integrated with post-graduate education and extension programmes, the release said.

“The government of India has started initiatives for the development of the region and decided to open the closed plants of fertilisers at Sindri of Jharkhand and Gorakhpur of Uttar Pradesh and opening new fertilizer plants in West Bengal. The opening of closed fertilizer plants and new plants will help the farmers and generate employment to youths,” the prime minister said.

Modi also appealed to the farmers to use scientific methods for modern farming. He asked them to use micro irrigation to increase production of food grain.

“I also appeal farmers to increase production of dalhan (pulses), as our country still imports large quantity of pulses. There is government policy to provide addition Minimum Support Price (MSP), to promote dalhan production in the country,” he said.

The prime minister appealed the farmers to avail the benefit of the Krishi Channel launched for the farming.

He expressed his concerns over the Indian farmers lagging behind in comparison to other countries’ farmers.

Besides Modi, Agriculture Minister Radha Mohan Singh, Jharkhand Governor Draupadi Murmu, and Chief Minister Raghubar Das, were also present on the occasion. (IANS)

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The Answer to The Impending Questions On Demonetization Are Here

While it did broaden the country’s tax base, it was a nightmare for the immense, cash-dependent informal economy.

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Indian Currency. Pixabay

Nearly all of the currency removed from circulation in a surprise 2016 attempt to root out illegal hoards of cash came back into the financial system, Resever Bank of India  has announced, indicating the move did little to slow the underground economy.

Prime Minister of India, Narendra Modi’s currency decree, which was designed to destroy the value of billions of dollars in untaxed cash stockpiles, caused an economic slowdown and months of financial chaos for tens of millions of people or demonetization.

Modi announced in a November 2016 TV address that all 500-rupee and 1,000-rupee notes, then worth about $7.50 and $15, would be withdrawn immediately from circulation. The banned notes could be deposited into bank accounts but the government also said it would investigate deposits over 250,000 rupees, or about $3,700. The government eventually released new currency notes worth 500 and 2,000 rupees.

 

demonetization
An activist of Congress party hold the banned 500 and 1000 rupee notes.

 

In theory, the decree meant corrupt politicians and businesspeople would suddenly find themselves sitting on billions of dollars in worthless currency, known here as “black money.”

“A few people are spreading corruption for their own benefit,” Modi said in the surprise nighttime speech announcement of the order. “There is a time when you realize that you have to bring some change in society, and this is our time.”

But even as the decree caused turmoil for those in India who have always depended on cash — the poor and middle class, and millions of small traders — the rich found ways around the currency switch. In the months after the decree, businesspeople said that even large amounts of banned currency notes could be traded on the black market, though middlemen charged heavy fees.

demonetization
Prime Minister Narendra Modi along with mayor, flickr

The reserve bank of India report said in its Wednesday report that 99.3 percent of the $217 billion in notes withdrawn from circulation had come back into the economy. Some officials had originally predicted that number could be as low as 60 percent.

Also Read: Diverse Gathering To Be Addressed This World BioFuel Day: PM Narendra Modi

“Frankly, I think demonetization was a mistake,” said Gurcharan Das, a writer and the former head of Proctor & Gamble in India. He said that while it did broaden the country’s tax base, it was a nightmare for the immense, cash-dependent informal economy.

“You can’t overnight change that in a country which is poor and illiterate. Therefore, for me it’s not only an economic failure but a moral failure as well,” Das said. (VOA)

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