Demonetization boosted agri sector; Singh proves by figures

Countering the popular notion, Union Minister of Agriculture and Farmers Welfare, Radha Mohan Singh said there is no adverse effect of demonetization on the agricultural sector. In fact, in some cases just the opposite is true-demonetization has resulted in speedier growth, Singh added.

He was talking to the media in Delhi on Thursday where he said his observation is based on the results of surveys as well as inputs from cooperatives. Singh was emphatic and marshaled facts and figures in support of his argument.

Talking about a rise in sale at Amul, Singh said before demonetization at GCMMF the average sale of milk per day was Rs. 64.55 crore. After demonetization it has increased to Rs. 74.25 crore per day in November-December.

Similarly, in the case of Mother Dairy, before demonetization the average sale of Mother Dairy milk was 28.06 lakh litre, the average cost was Rs. 11.42 crore. After demonetization it has increased to 29.61 lakh litre per day. In November-December the average cost is Rs. 12.05 crore per day.

Radha Mohan Singh said if we compare the data of 2016 with the data of sale of seed of Rabi 2015, we will find that in most of the states either the data has increased or it is equivalent. For example Madhya Pradesh State Seed Corporation sold 10.42 lakh quintal for sowing of Rabi 2015, it has increased to 11.93 lakh quintal this year. Similarly, Maharashtra State Seed Corporation sold 2.64 lakh quintal seeds during the last year, this year it is 2.7 lakh quintal. Karnataka State Seed Corporation sold 1.36 lakh quintal seeds during the previous year, this year it is 1.49 lakh quintal.

Analyzing the data of National Seed Corporation, we will see that till 23rd December, 2015 5.51 lakh quintal seeds was sold by it. There is a slight decrease, it is 5.20 quintal this year. Similarly, in Telangana State the sale of seed was 1.55 lakh quintal in Rabi 2015 there is a slight decrease in it and it is 1.48 lakh quintal. In Uttarakhand also there is a slight decrease in it. It was 3.8 thousand quintal. In the year 2016 it is 3.7 thousand quintal, Singh stated.

Singh also mentioned Nafed and said it is clear from a study of the data of NAFED- before demonetization on 8th November 2016, the average sale of NAFED was Rs. 2 lakh per day which has increased 1 and a half times after demonetization going up to Rs. 3.70 lakh per day.

The main reason was the continuation of old Rs. 500 and 1000 currencies on cooperative shops. In December 2016, this income has stabilized at Rs. 2.31 lakh per day which exceeds sales recorded before demonetization, he added.

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Comment ( 1 )

  1. Ishwer Naik

    Rahul Gandhi’s expected response.
    The increase with old notes resulted in people hoarding goods thus converting black in to white.” .

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