After a gap of more than 13 years, the National Commodity and Derivatives Exchange (NCDEX) is all set to launch a futures contract in groundnut (in shell) to fill a void in oilseeds complex futures because of a ban in several high-volume commodities.
'As long as Amul was coming in with products it was not a problem because it was something value added and with a shelf life.' 'When it gets into the local market by procuring locally, it cuts into the market-share of local cooperatives.'
It should announce its candidates 45 days before the elections; trust rooted leaders; start its campaign focused on five guarantees six months before elections.
Prime Minister Narendra D Modi's itinerary for his June 21-24 US visit could include an address to a fledgling business advocacy group, the US-India Strategic Partnership Forum.
'Karnataka's finances are much healthier than the Union government's, which is indebted to nearly twice the extent of the state.'
Both the BJP and Congress understand that coalitions and alliances are not just about numbers, but have symbolic value.
States have been told to prepare in advance to counter any impact of an adverse southwest monsoon.
The BJP's challenge is whether it can again deflate a Congress, which now looks reinvigorated and has adopted sharper messaging around its 'guarantees', and several regional parties, especially in Bihar, Maharashtra and West Bengal.
In a significant development, India is believed to have placed a funding request of around $55 million in its first call with the Pandemic Fund of the World Bank, sources said. The fund has been set up to finance critical investments in a bid to strengthen pandemic prevention, preparedness, and response capacities at national, regional, and global levels, with a focus on low- and middle-income countries. It was created in the aftermath of the Covid-19 global pandemic.
With Lok Sabha elections months away, the visits are vital politically as these would showcase Modi's standing as a world leader to the home electorate.
'It is not just about numbers. Sometimes coalitions and alliances have symbolic value.'
With different agencies showing divergent predictions regarding the southwest monsoon, the central government and states are gearing up to face adversity with various line ministries reportedly being directed to undertake mock drills and hold preparatory meetings. Around 56 per cent of the net cultivable area of the country is rain-fed, accounting for 44 per cent of foodgrain production. The June-September rains contribute around 73 per cent of the annual precipitation.
The onset of the southwest monsoon is being keenly watched this year as it may provide an early sign regarding its progress over the Indian subcontinent, particularly when El Nio is expected to rear its head during the latter half of the season.
While some states have kicked in their heat action plans, experts feel this is not enough to tackle the current extreme weather.
The Centre has issued an advisory to states to speed up the preventive vaccination process.
There has not been a large impact of untimely rain and hailstorm so far in several major wheat-growing areas, and those might have damaged around 3 per cent of the standing crop -- not enough to make a big dent in the expected 112 million tonnes of production in FY24, a senior government official said on Tuesday. Relentless rain pounded most North Indian states all through March. Separately, the chairman of Food Corporation of India (FCI), Ashok K Meena, told reporters the agency was on track to achieve the targeted 34 million tonnes of procurement in FY24 on the back of a strong start to the purchase season from Madhya Pradesh.
Prime Minister Modi last week called for optimal grain storage, fire audits and mock drills in hospitals as preparations for the harsh summer forecast by the meteorological department.
The Gross Value Added (GVA) in agriculture and allied activities is projected to clock its best growth in FY23 during the October-to-December quarter, at 3.7 per cent, on the back of a strong kharif harvest, according to the second advance estimates of national income. In the third quarter of FY22, GVA in the sector was 2.3 per cent at constant prices. At current prices, the growth in the third quarter of this financial year is projected at 8.6 per cent, which is almost at the same level in the corresponding quarter of FY22.
In the coming few weeks, agriculture markets in North and Central India will be full of wheat, mustard, and chana - the three main rabi crops grown in these parts. Not only will the price trajectory of these determine the course of food inflation in the months to come, but it could also have a wider impact on the rural economy in the main growing states for these crops. Wheat and chana are largely grown in Madhya Pradesh (MP).
India has put curbs on wheat exports through the government route, starting November last year. This comes amid a surge in domestic prices of the cereal. In December, India exported 391 tonnes of wheat to Bangladesh and Bhutan. In November 2022, it had exported 375 tonnes of wheat only to Bhutan.
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