HomeNewsGovernment Approved Printing of Rs. 10,000 Crore Bonds Three Days Before Supreme...

Government Approved Printing of Rs. 10,000 Crore Bonds Three Days Before Supreme Court Scrapped Agriculture Scheme

Published on

spot_img

In an unexpected turn of events, the Indian government approved the printing of Rs. 10,000 crore worth of bonds just three days before the Supreme Court struck down the contentious farm laws that were at the heart of the ‘Kisan Mahapanchayat’ protest.

In December 2020, the Cabinet Committee on Economic Affairs (CCEA) gave the green light to the issuance of these bonds, which were intended to support the Agriculture Infrastructure Fund (AIF). The AIF, a Central Sector Scheme, was launched to address the infrastructure needs of the agriculture sector, including farm-gate infrastructure, cold chains, and post-harvest management infrastructure.

The approval of the bonds came just days before the Supreme Court stayed the implementation of the three contentious farm laws and set up a committee to examine the legislations’ validity. The development raised questions about the government’s motives and the timing of the decision.

The Agriculture Infrastructure Fund, established in August 2020, had an initial corpus of Rs. 1 lakh crore. The scheme aimed to provide the agriculture sector with a much-needed financial boost, with the potential to expand further based on the funds’ utilization.

However, the approval of the Rs. 10,000 crore bond issue has sparked controversy and raised questions about the government’s intentions. The Supreme Court’s decision to stay the implementation of the farm laws and the subsequent quashing of the bills have brought the timing of the bond approval under scrutiny.

It remains unclear how the government plans to utilize these funds, especially now that the farm laws have been scrapped. The situation highlights the need for increased transparency and accountability in government decisions, particularly those related to financial matters.

As the dust settles on the farm laws saga, stakeholders and observers will be closely monitoring the government’s next steps, including the allocation and utilization of the funds approved for the Agriculture Infrastructure Fund.

In conclusion, the Indian government’s approval of the Rs. 10,000 crore bond issue just three days before the Supreme Court’s decision to scrap the contentious farm laws has raised questions about the timing and intentions of this decision. With the farm laws no longer in existence, the future of the Agriculture Infrastructure Fund and the utilization of these bonds is uncertain. This situation underscores the importance of transparency and accountability in government decisions, particularly those related to financial matters.

Latest articles

Namaste Henry: Revolutionizing Digital Marketing with a Blend of Tradition and Innovation

Namaste Henry is a leading digital marketing agency founded in 2020 by entrepreneur Santhosh...

Learn ‘n’ Earn: Bridging Education and Employment Through Practical Experience

In today's dynamic landscape of higher education and professional development, traditional classroom learning alone...

EduCodeLab: Enhancing Digital Productivity with Free Tools

EduCodeLab, a new platform offering a range of free digital tools, launched on June...

Dr. Ankit Kayal: Trailblazing in Urology with International Accolades and Expertise in Advanced Endourology

New Delhi, July 9, 2024 – Dr. Ankit Kayal, a highly acclaimed Consultant Urologist...

More like this

Namaste Henry: Revolutionizing Digital Marketing with a Blend of Tradition and Innovation

Namaste Henry is a leading digital marketing agency founded in 2020 by entrepreneur Santhosh...

Learn ‘n’ Earn: Bridging Education and Employment Through Practical Experience

In today's dynamic landscape of higher education and professional development, traditional classroom learning alone...

EduCodeLab: Enhancing Digital Productivity with Free Tools

EduCodeLab, a new platform offering a range of free digital tools, launched on June...