Karnataka Agriculture Department has signed an MoU with Microsoft India to develop a unique “farm price forecasting model” using latest IT tools in a bid to help farmers, administrators and other stakeholders to understand the market behaviour in advance.
The proposed initiative is the first-of-its-kind in the country as it is a “multi-variate” one that takes into consideration various factors beyond the conventional supply-demand equation while forecasting the prices for crops. It will examine a slew of related factors including weather, rainfall and external factors that impact market behaviour.
Important Takeaways from Above News-
- Siddaramaiah is the CM of Karnataka.
- Vajubhai Vala is the Present Governor of Karnataka.
Source- The Hindu