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Available Subsidy for Micro Irrigation more in FY15 Budget Compared to FY14 spend

14th July, 2014, Jalgaon

There have been inaccurate reports that funding for micro irrigation subsidy has been cut by Central Government possibly by 21 percent. To the best of our knowledge and based upon oral  response to queries from agriculture ministry, direct  amount available for micro irrigation subsidy is at Rs. 1,569 crores which is  in fact about 21% percent higher than Rs. 1,300 crores spent in FY14. Break up of this can be seen at http://www.ncpahindia.com/sites/default/files/OFWM_EC.PDF. Funding for micro irrigation subsidy is provided under National Mission for Sustainable Agriculture (“NMSA”) (earlier National Mission on Micro Irrigation, “NMMI”) & Mission for Integrated Development of Horticulture (“MIDH”).

As it is well known in Industry, additional funding support for micro irrigation also comes under various other schemes from different ministries. Allocation in budget has been increased in all these schemes as enumerated below. This will further augment short to medium to long term potential of this business.

Ministry of Govt. of India Scheme Allocation
2014-15 Rs. Crs
Allocation
2014-15
(Interim) Rs. Crs
% Change Scheme Preamble
Agriculture Rashtriya Krishi Vikas Yojana (RKVY) 9,864.00 7,000.00 40.9% Provision includes sub-components, viz. (i) Special Initiative for pulses and oilseeds development in selected pulses/oilseed growing villages as a supplementary programme, specifically targeted to rainfed areas and will be implemented on same parameters as ongoing programmes for oilseed and pulses, (ii) Scheme to bridge yield gap in agriculture in eastern India, (iii) Requirement for Saffron Mission in Jammu & Kashmir, (iv) Promotion of oil palm; (v) Initiative on vegetable clusters, (vi) Nutri-cereals, (vii) Accelerated fodder development programme, and (viii) National Mission for Protein Supplement to promote livestock development, dairy farming, piggery, goat rearing and fisheries in selected block and Rainfed Area Development Programme
Water Resources Accelerated Irrigation Benefit & Flood Management Programme (AIBP) 8,656.00 - - The scheme supports Major, medium and minor projects of the states and also provides for national projects, Command Area development and management, flood management and Repair, Renovation and Restoration of Water Bodies. Click Here for Details >>
Water Resources Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) 1000.00 - - Bulk of our farm lands are rain fed and dependent on monsoons. Therefore, there is a need to provide assured irrigation to mitigate risk. To improve access to irrigation we propose to initiate the scheme “Pradhan Mantri Krishi Sinchayee Yojana”. Allocation for micro irrigation under this scheme is not yet known.

In summary, we reiterate that adequate funds are available from Central & State Governments to support high growth rates in revenue and we are looking forward to strong FY15 for our Micro Irrigation Division.

Overall, FY15 budget has been positive for other divisions of the company including Pipes, Agro Processing and Solar Pump Division as well.

About Jain Irrigation (www.jains.com)

Our Company, Jain Irrigation Systems Limited (JISL) with more than 10,000 associates worldwide and revenue of 59 billion rupees, is an Indian multinational company with manufacturing plants in 28 locations across the globe. It is engaged in manufacturing of Micro Irrigation Systems, PVC Pipes, HDPE Pipes, Plastic Sheets, Agro Processed Products, Renewable Energy solutions, Tissue Culture Plants, Financial Services and other agricultural inputs since last 34 years. It has pioneered silent revolution with modern irrigation systems and innovative technologies in order to save precious water and has helped to get significant increase in cropyields, especially for millions of the small farmers. It has also ushered in new concept of large scale Integrated Irrigation Solutions(IIS). All the products and services of JISL help create sustainable future while fulfilling its vision ‘Leave this world better than you found it’.

JISL is listed in NSE-Mumbai at JISLJALEQS and in BSE at code 500219.

Please visit us at www.jains.com

 
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