Commodity Online
NEW DELHI : In a welcome suggestion to help farmers and other stake holders, the Economic Survey completed Thursday, urged the government to lift the ban on futures trading on rice, sugar, tur and urad and decontrol sugar sector.

Expressing concern over declining investment in farm sector and a low growth of 1.6 per cent in 2008-09, the Survey said India's dependence on import of pulses, edible oils and other commodities had also put pressure on the economy by way of rising prices.

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As part of measures to control inflation, the Centre had imposed ban on futures trading on rice, tur and urad in early 2007, while the trading in sugar has been suspended from May 26 till December this year.

The Survey, however, emphasized on improving productivity to ease demand-supply situation.

"The agriculture sector faces challenges on various fronts. On the supply side, the yield of most crops has not improved significantly and in some cases fluctuated downwards. There is clearly a need for renewed focus on improving productivity," the Survey said.

It said production during 2008-09 at 229.85 million tones was lower than the target of 233 MT and that there was a shortfall in case of non-food cash crop like sugarcane.