Indias cotton planting area likely to rise by 15% to a 3yr high as prices increase
The Dollar Business Bureau Buoyed by increasing cotton prices, Indian farmers have started sowing cotton in a larger area. Sowing has begun on a stronger note in Haryana, Punjab, Karnataka for the 2017-18 season. India is the world’s biggest producer of cotton and a higher output in the country could enrich the cotton farmers who have been under distress due to prolonged drought, adverse market conditions, non-payment of bank loans and climatic aberrations. India’s current cotton crop for the season ending this September is expected to be 170 kgs or 34.1 million bales. According to M.M.Chockalingam, Chairman of the State run Cotton Corporation of India, “this year farmers received higher prices, so they are going to raise the area under cotton. We are ...
Bad loans of PSU banks 'unacceptable': Arun Jaitley
Source: PTI Bad loans of public sector banks have reached an "unacceptable" level and an all-out effort has been launched to 'correct' their health, Finance Minister Arun Jaitley said on Friday. “NPAs, which have reached to the present level are unacceptable. They reached this level partly because of indiscretion, partly because of inaction and partly because of challenges in some sectors of the economy, which were evident through the high NPA levels in these sectors," he said. Public sector banks are saddled with huge amounts of bad debt and their gross Non Performing Assets (NPAs) stood at Rs.2.67 lakh crore at the end of last fiscal ended March 31. This accounted for over 86% of the gross NPAs for the entire ...
