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Biz EOD: Stimulus 2.0 to boost Agri-infra; COVID-19 curbs NHAI projects; India's exports shrink

BusinessToday.In     May 16, 2020

Finance Minister Nirmala Sitharaman announced Rs 1 lakh crore fund to boost agriculture infrastructure across the country. As per an analysis done by CRISIL, almost 20 per cent of NHAI's projects fall in the designated red zones where business activity is prohibited. India's exports shrank by a record 60.28 per cent to $10.36 billion in April as production units remained closed due to coronavirus lockdown. Read for more top stories from the world of business and economy:

1. Tranche 3 of coronavirus stimulus a medium-term plan to boost agriculture

The proposed central law will help farmers and farmer producer organisations (FPOs) bypass the existing mandi system and enter into contracts with procurers across India.

2. Highway construction runs at slow pace as fifth of NHAI's projects in red zones

In UP, which has the highest number of under-construction highway projects (15 per cent), almost a third of them are in red zones.

3. Agri package doesn't cover even one-fourth of small farmers

Around 30 per cent of agricultural households still avail credit from non-institutional sources. An RBI report states the probable reasons could be their credit demand might be for consumption purposes.

4. India's exports contract 60% in April to $10.36 billion

The decline in exports has been mainly due to the ongoing global slowdown, which got aggravated due to the current Covid-19 crisis.

5. Rs 1 lakh crore allocated for Agri infrastructure, says Sitharaman

"Lack of adequate cold chains and post-harvest management infrastructure in the vicinity of farm-gate has caused gaps in value chains," she added.

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