Experts believe the rising prices may encourage farmers to bring in additional areas for under onion cultivation during the rabi season, which may boost the precious bulb's output, reports Dilip Kumar Jha.
In the 2020-21 Budget, the prime minister and the finance minister are keen to stamp their narrative, after various rollbacks following the previous Budget, said top government sources. Besides the scheduled meetings, the sources said, the Prime Minister's Office is expected to hold several meetings with top secretaries and officials on various ongoing schemes, their performance and also how some of them could be tweaked for better results.
Despite onion prices hitting Rs 130 a kg in the wholesale market, farmers have not gained enough to make a profit this season. Farmers and other stakeholders in the value chain estimate that 30 per cent crop damage this kharif season would result in a decline of about 2 million tonnes in output from Lasalgaon district alone. Similar crop damage across the country could lead to an onion shortage of nearly 7 million tonnes this year.
Farmers in Nashik district, Maharashtra - a major producer of onion - have started harvesting the premature crop to cash in on the high prices in mandis. Good-quality onion was quoted at Rs 93.50 a kg on the higher side. However, the poorest-quality onion was selling at Rs 25.50 a kg on Wednesday as against Rs 20 a kg on Tuesday. Thus, the model price of onion works out to Rs 70-75 a kg in Lasalgaon, translating into Rs 100-125 a kg in the retail markets of the country.
India exported $102 million worth of dehydrated onions in 2018-19.
Though the NITI Aayog did not give its estimates for the required GDP growth at constant prices, economists pegged it at 9 per cent, a feat not seen since the GDP series was revised with 2011-12 as the base year.
The industry body has issued two advisories in an attempt to restore jewellers credibility in the wake of the Rs 12,000-crore PNB-Nirav Modi scam, and recent defaults by two domestic jewellers - Goodwin and Rasiklal.
The yellow metal now trades at a 0.5 per cent premium over its landed cost, compared to a 4 per cent discount in mid-September because jewellers have voluntarily withdrawn the display of cash price from their website.
Sources said the rural development ministry has sought an additional Rs 20,000 crore for MGNREGA for 2019-20 over and above the budgeted Rs 60,000 crore for 2019-20. Though, all of the PM-KISAN savings may not be transferred to fund MNGREGA's extra needs, sources said a part of this could be transferred.
Confidence had ebbed in the last few years due to default by some errant domestic retailers and exporters. Moreover, many jewellers are believed to have diverted the fund collected through monthly deposit schemes to pay 'mark-to-market' margins on various loans.
'The availability of vegetables has gone down due to fewer arrivals in wholesale mandis. Their supply was disrupted because of low yields and high spoilage,' says Shyam Bhimraoji Karlekar, chairman, APMC Wardha, one of the largest sellers of vegetables in Maharashtra.
Scenario is precarious for urad with almost half the crop damaged in major growing states, tur quota of 400,000 tonnes already exhausted.
Onion is currently trading between Rs 70 and Rs 80 in retail markets across the country.
Dissatisfaction with the state leadership, along with caste and sectarian factors and economic issues -- particularly those relating to jobs and rural distress cost the BJP.
Although demonetisation and improper implementation of GST along with falling prices are being blamed for much of the distress in rural India for some time, experts believe those may not be the only reason.
A data shows the number of backyard poultry has risen by 46 per cent between 2012 and 2019. The development is extremely positive because it provides an incentive for small and marginal farmers to rear birds.
Discounts and incentives are attractions jewelleres are offering along with new designs to woo customers to boost sales ahead of Diwali.
As the number of cross-bred female cattle rise, the entire concept of lean and flush seasons for milk will go away, as these animals give similar quantities in all seasons.
On the occasion of Chinese president Xi Jinping's two-day visit, Indian exporters are looking for a big boost in export of agricultural commodities, especially the ones that have been impacted by the ongoing trade war between the United States and China.
Assembly elections in Maharashtra are scheduled later this month. The farmer protests are likely to affect the results, especially in the onion-growing belt of Nashik.
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