Maharashtra CM bats for states’ share in crop insurance scheme at 50%

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Maharashtra Chief Minister Uddhav

Thackeray on Thursday demanded that the states’ share in the Pradhan Mantri Pik Vima Yojana (PM’s crop insurance scheme) should remain at 50 percent.


He was speaking at a video conference with Union agriculture minister Narendra Singh Tomar on the agriculture reforms ordinance.



Thackeray said the states’ share in the crop loan insurance scheme should be 50 per cent.


He also said that insurance companies should have their offices at district level, so that farmers can easily approach them for claim settlement.


The Centre should also take steps to ensure that farmers get timely crop loans from banks, the chief minister said.


The cap of 25 per cent for procurement of cereals and pulses should be scrapped, Thackeray said.


Maharashtra agriculture minister Dada Bhuse, who was also present at the meeting, demanded loans at one percent rate for creating infrastructure facilities in the agriculture sector.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

ICRA Q1 net profit declines 17% to Rs 17 cr, income down at Rs Rs 80.8 cr

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Credit rating firm has reported a 17 per cent fall in consolidated net profit to Rs 17.04 crore for the first quarter ended June 30, 2020.


The company’s net profit had stood at Rs 20.53 crore in the corresponding quarter of the previous fiscal.



Its total income also moderated to Rs 80.79 crore for the quarter ended June 2020, from Rs 88.69 crore a year ago, said in a regulatory filing.


The level of activity in the economy was significantly impacted by the coronavirus-induced lockdown in the first quarter of 2020-21, it said.


The rating agency also added that this along with less-than-expected pick-up in the economy in the second quarter due to partial lockdowns in some geographies have resulted in the agency’s estimate of GDP contracting further to 9.5 per cent, it said.


Based on the current assessment, this situation does not materially impact the company’s capital and financial resources, said.


However, the actual impact of Covid-19 may differ from that estimated due to unforeseen circumstances, it said. The company will continue to closely monitor any material changes to

Truckers Block Chile Roads In Protest At Attacks

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Truckers in Chile on Thursday partially blocked major roads linking the north and south of the country in protest at an increase in attacks by militant indigenous people.

Members of the Mapuche indigenous community have long-standing land disputes with the state, especially in the southern region of Araucania, around 600 kilometers south of the capital Santiago.

Some have taken their frustrations to extreme levels, attacking trucks and forestry machinery.

Several trucker unions called for the blockades, although sporadically some cars and trucks were allowed to pass.

“We’re asking for security, not just for truckers but all Chileans,” Jose Villagran, president of the Southern Truckers Federation, told national television.

He insisted that the blockade would not prevent deliveries of food and supplies.

The truckers want the government to pass a law that treats the breaking and entering into a truck cab on the same level as burglary, as well as greater security on the roads.

At the weekend, a nine-year-old girl was hurt after gunmen opened fire on a truck in Araucania.

She was traveling with her family, which was forced to flee the vehicle before the attackers torched it, police said.

Some people deny the Mapuche are behind the attacks

Don’t hide behind RBI, clarify your stand on loan moratorium: SC to govt

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Pulling up the Centre for “hiding behind the Reserve Bank of India” (RBI), the on Wednesday asked it to clarify its stand within a week on the waiver of interest on loan repayments during the moratorium period.


A Bench headed by Justice Ashok Bhushan said the government had failed to clear its position on the issue despite the fact that ample powers were available with it under the Disaster Management Act.


Solicitor General Tushar Mehta said, “My Lordships may not say that. We are working in coordination with the RBI.”

The Bench, also comprising Justices R Subhash Reddy and M R Shah, asked the solicitor general to clarify stand on the Disaster Management Act, and whether additional interest on the existing interest could be accrued.


Mehta argued that there could not be a common solution for all the problems.


Senior Advocate Kapil Sibal, appearing for the petitioner, informed the Bench that the loan moratorium’s deadline would end on August 31, and sought its extension. “I am only saying that till these pleas are decided, the extension should not end,” Sibal said.


The apex court has now posted the matter for hearing on

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