ARTICLE ID : 110117/01

No effect of note ban on rabi sowing, prices of crops: Niti Aayog 
The Centre’s demonetisation drive did not have any impact on rabi sowing and prices of crops like paddy, soyabean and maize, Niti Aayog member Ramesh Chand has said 
“Tentative estimates of area sown are provided by the Ministry of Agriculture each Friday of the week. This data shows that up to November 11, which can be considered as start of demonetisation, rabi sowing was completed on 14.6 million hectare area which was 5.7 per cent lower than the normal crop coverage.

(The paper said that no effect of demonetisation was seen on prices of major crops like paddy, soyabean and maize in the month of November and their wholesale prices in APMC mandis.)

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Chand wrote in a research paper titled “Agricultural Growth in the Aftermath of Demonetisation“.
It further said that normally rabi sowing is completed on 88 per cent area by December 30 but this year it has been completed on more than 91 per cent area.

The paper said that no effect of demonetisation was seen on prices of major crops like paddy, soyabean and maize in the month of November and their wholesale prices in APMC mandis of the country were around 3 per cent higher in November as compared to the month of October. However, prices of maize and soyabean fell in the month of December but paddy ruled higher than previous two months and also as compared to last year.

The paper, however, pointed out that the growth rate in farmers’ income is projected to be slightly lower due to drop in prices of perishables during the months of November and December.The agriculture sector this year was expected to witness high growth, about 6 per cent, in output and farmers’ income, after two years of poor performance due to back to back droughts.

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( Article adapted from
http://economictimes.indiatimes.com/articleshow/56457462.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst )

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