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India offers seed, diesel subsidies to farmers hit by patchy monsoon
August 12, 2015 / 4:23 PM / in 2 years

India offers seed, diesel subsidies to farmers hit by patchy monsoon

NEW DELHI, Aug 12 (Reuters) - India will offer subsidies on seeds and diesel to help farmers facing patchy monsoon rains in some key growing states, a government statement said on Wednesday.

The government, which has earmarked 1 billion Indian rupees ($15.4 million) for diesel subsidies, will also ensure subsidised seeds are available in case farmers need to plant their crops again, the statement said after a cabinet meeting chaired by Prime Minister Narendra Modi.

Monsoon rains irrigate nearly half of India’s farm lands. So far, the June-September monsoon rains have been 9 percent below a long-term average.

Fourteen states, including Bihar, Punjab, Haryana, Karnataka, Maharashtra and Uttar Pradesh have received less than satisfactory rains this year.

Subsidies for seeds and diesel and a few other measures to help cushion the blow of poor monsoon would cost 3 billion rupees, said the statement.

$1 = 64.83 rupees Reporting by Mayank Bhardwaj; Editing by Mark Potter

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