Temperatures in March will be critical to determining the impact of any unusual heatwave conditions on this year's wheat crop in North India. It is that time of the year when the crop enters its vital grain-filling stage, say meteorologists and crop experts. So far, the high day temperatures in the North are not believed to have any significant impact on the final yields since the crop hasn't entered a stage where heat affects yields.
India has substantially increased its crude oil imports from the US, with the country's share in India's crude basket hitting a record 14.3 per cent in December, commerce ministry data showed.
'The corruption charges in FCI are not the first and won't be the last.'
'... and without necessarily calling them Economic Surveys.' 'One should stick to the main focus, which is to give people a good perspective on how the economy is doing.'
'They have started becoming an important player, but not at the same level as they were in the earlier part of the decade.'
'I believe the modified scheme is much more beneficial and simpler.'
The International Monetary Fund (IMF) has said India and China will account for half of the global economic growth in 2023, as the multilateral agency retained its growth forecast for Asia's third-largest economy for 2023-24 (FY24). "India remains a bright spot. Together with China, it will account for half of global growth this year, versus just a tenth for the US and euro area combined," the IMF said in its latest update to the biannual World Economic Outlook. Growth in India is set to decline from 6.8 per cent in 2022 (FY23) to 6.1 per cent in 2023 (FY24) before picking up to 6.8 per cent in 2024 (FY25), the global lender said while citing "resilient domestic demand despite external headwinds".
Several global models are predicting El Nio to appear around the second half of the year, which are the crucial rain-bearing months.
'This government has always been fiscally conservative. It never resorted to fiscal profligacy.'
It may plan a significant hike in budgetary support aimed at completing the balance 8.4 million dwellings by March 2024.
'Limited spillovers' to Asia's third-largest economy, even as world 'perilously close' to recession.
Exports had recovered in November to grow at 0.59 per cent from a 12 per cent contraction in October.
The importance of China as India's top trading partner cannot be understated.
Although the Disaster Management Act for Covid containment measures, considered a hindrance in conducting the census, was withdrawn in March this year the Centre has not taken any further action on conducting the much-delayed population enumeration.
The department of commerce has urged the agriculture ministry as well as the diplomatic mission in Tehran to apprise it of details as to why Iranian buyers have stopped import of rice and tea from India, a senior government official said. Exporters said that exports of items such as high quality tea and rice have stopped since last week. As of now, there has been no confirmation from the authorities and the response from the embassy in Tehran is also taking time, they said.
Shipments of sunflower oil to India have started normalising after imports from war-torn Ukraine resumed beginning September after a gap of four months, leading to further normalisation of supplies. Ukraine has been the largest supplier of sunflower oil to India. However, after the Russia-Ukraine war broke out in February, supplies from Ukraine dwindled as Russia denied it access to the Black Sea ports.
We are looking at bringing quality control orders for mass production items such as smart meters and ceiling fans. This will benefit our own industry and consumers, a government official said.
Brace for some warmth this winter as the India Meteorological Department (IMD) in its December-February forecast on Thursday said that the minimum and maximum temperatures could remain 'normal' to 'above normal' over most parts of Northwest and Northeast India. Both the minimum and maximum will remain below normal in Southern Peninsular and Central India in these winter months. While this could give some respite from the intense cold of North India, it could have a negative impact on the standing rabi crops if the temperature rise is unusual and abnormal.
India is unlikely to join the ongoing negotiations for a plurilateral deal on e-commerce at the World Trade Organization (WTO), notwithstanding a change in stance on data localisation and cross-border flow of data. Under the new draft digital personal data protection (DPDP) Bill, put out on Friday for public consultation, the government has proposed free cross-border flow of data with 'friendly' nations, significantly easing its earlier stance on data localisation. India has so far stayed out of a group of 87 countries, including the US, European Union, China, and Japan that are negotiating trade-related aspects on e-commerce since December 2017.
The Genetic Engineering Appraisal Committee (GEAC) has recommended the environmental release of the genetically modified (GM) mustard variety DMH (Dhara Mustard Hybrid)-11, paving the way for the commercialisation of the country's first GM food crop. The GEAC said the recommendation was valid for four years from the date the approval letter was issued. Further studies and coordinated trials will have to be conducted jointly with the Indian Council of Agriculture Research (ICAR) within two years, according to the minutes of the GEAC meeting held on October 18, which was released on Wednesday.
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