Gaur seed major contributor to revenue : Jaitley

Speed Post News Network

New Delhi : Union Finance Minister Arun Jaitley on January 14, 2018, said that India ranks among the fastest growing major economies in the world today. He said that since a large portion of our population is dependent on agriculture, it is important to have equitable growth. Jaitley said that farmers have helped the country ​overcome a long period of scarcities to reach the present era of abundance.​ ​

The Union Finance Minister was delivering the inaugural address after launching the country’s first agri-commodity options in Guar Seed ( cluster bean, source of Gaur Gum) in New Delhi on January 14. He said that National Commodity and Derivatives Exchange Limited (NCDEX) Agri-options are an important tool which will contribute to the Prime Minister’s vision of doubling the farmers’ incomes by 2022. Jaitley said that the Guar seed is a major contributor to revenue generation hence making it a suitable commodity to start with for options, according to a PIB release. The Finance Minster congratulated the NCDEX for this initiative.​ ​

Jaitley said that this may appear to be a small step, but is a significant one, in the direction of agricultural trade as this will ensure that the farmers will receive a better price for their commodities.NCDEX Agri-Options in Guar Seed aim to provide farmers better engagement in the commodity markets.​