In order to provide strategic development to the horticulture sector, so as to increase farmers income, a pioneer project called CHAMAN, has been launched three years back by the Government.This project is being implemented by Mahalanobis is National Crop Forecast Centre (MNCFC) using remote sensing technology and is likely to be completed in March 2018
About the project
CHAMAN is a pioneer project in which remote sensing technique is being used for strategic development of horticulture sector as also to increase the farmers’ income It gives methodology for preparing reliable estimates of horticulture crops Income of farmers will increase by growing selected crops in the high suitable areas identified under CHAMAN in the current Jhum /wastelands The Post-Harvest damages of farmers would be significantly reduced by creation of desired Post Harvest Infrastructures like cold storages etc. thereby increasing their income The Geo-Spatial Studies like crop intensification, orchard rejuvenation and aqua-horticulture would further help the farmers’ to grow their horticultural crops in a profitable manner which will help increasing their income
India is the Second largest producer of Vegetables and Fruits in the world and is First in the production of Banana, Mango, Lime and Lemon, Papaya and Okra.
- Sovereign Gold Bonds
Ministry/Department: Ministry of Finance in association with RBI
Objective: To reduce the demand for physical gold by shifting a part of the demand for physical gold into investment in Gold Bonds
- Bonds will be issued by RBI on behalf of govt.
- To be sold through bank, post offices and Stock Holding Corporation of India Limited
- The risk of gold price changes will be borne by the Gold Reserve Fund that is being created
- Sovereign Gold Bonds will be issued on payment of rupees and denominated in grams of gold
- Customers can buy gold bonds which will be relatable to the weight of gold.
- The bonds will be issued in various denominations for 5-7 years with a rate of interest to calculated on the value of the metal at the time of investment.
- Max 500 gms gold equivalent bond can be purchased in a year by one person. (This has been changed. See below)
- Only offered to Indian citizen and institutions.
- Strict KYC norms.
- Interest taxable as per IT Act,
- Capital gains tax treatment will be the same as for physical gold for an 'individual' investor.
- Rate of interest will be decided by government
- The bonds will be issued in denominations of 5,10,50,100 grams of gold or other denominations
- Bonds can be used as collateral for loans
- On maturity, the redemption will be in rupee amount only.
- The rate of interest on the bonds will be calculated on the value of the gold at the time of investment.
- Factual Information:
- Started in 2015
Progress so far and changes:
- The mobilisation target under the scheme was Rs. 15,000 crore in 2015-16 and at Rs.10,000 crore in 2016-17. However, the amount so far credited in Government account is Rs. 4,769 crore.
- Changes in scheme:
- The investment limit under the scheme per fiscal year has been increased to 4 kg for individuals, 4 Kg for Hindu Undivided Family (HUF) and 20 Kg for Trusts and similar entities notified by the Government. The ceiling will be counted on financial year basis and will include the SGBs purchased during the trading in the secondary market.
- Ministry of Finance (the issuer) has been given flexibility to design and introduce variants of SGBs with different interest rates and risk protection that will offer investment alternatives to different category of investors.