India offers six billion dollars to jack up agriculture
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India&#39;s prime minister Tuesday announced a six billion dollar package to try and help poor farmers hit by a combination of high debt and low crop yields, a government spokesman said.
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A revival of monsoon rains in India after a patchy start should ensure a good harvest and help the farm-dependent nation achieve its seven to eight percent economic growth target, officials said.
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NEW DELHI: The government will set up a regulatory framework for infrastructure to create the necessary environment to attract $150 billion foreign direct investment in the sector for achieving seven to eight per cent growth, Prime Minister Manmohan Singh
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India's Prime Minister Manmohan Singh said the country's poor farm output and decrepit infrastructure are major barriers to achieving the double-digit economic growth needed to free millions from poverty.
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India is projected to outpace China and become the world's most populous country by 2050, growing by 50 percent in the next 46 years to reach more than 1.6 billion people, a US research institute said.
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India unveils a package of trade incentives, aimed at helping the country grow its exports by 20% a year for the next five years.
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Indian Finance Minister Palaniappan Chidambaram said growth may slow to between 6.0 and 6.5 percent this fiscal year due to patchy monsoon rains and high global oil prices.
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India said on Wednesday it would use tax revenue generated by a booming economy to raise spending on health, education and its flagging farm sector to improve living conditions for hundreds of millions of the poor.
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The Indian air force is to buy 126 aircraft with the US F-16 fighter among those being considered.
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The World Bank on Tuesday approved a $6.5 million loan to prevent further outbreaks of foot-and-mouth disease in Uruguay and establish a system for tracking livestock to keep the country free of the virus.
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India, the world's leading grains producer, is expected to produce a record wheat crop of 79 to 80 million tonnes in the summer season if the weather continues to be good, a farm ministry official said on Wednesday.
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To strengthen the fight against AIDS, TB and Malaria in India, Global Fund (GF), a US-based funding agency, has approved grants worth 413 million dollars to India for seven proposals, each of five-year duration.
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The US government announced a five-year, 547-million-dollar aid package to Ghana to help the African nation develop agriculture and alleviate poverty.
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Metahelix Life Sciences, a biotech firm founded by five Indian scientists in 2001, says it is doing research that may lead to the development of insect-protected rice and high-yield corn.
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The government of the southern Indian state of Andhra Pradesh considers plans to send farmers to East Africa.
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NEW DELHI SEPTEMBER 26: Public sector investments in agriculture and other industries have not kept pace with private investments over the last decade, a CII discussion paper on âInvestment Scenario in Indiaâ has found.
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India's inflation jumped to a two-year high of 6.73 percent, prompting the government to slash diesel and petrol prices and raise expectations of more rate hikes to stabilise prices.