The farm sector has been resilient to the COVID-19 shock and is estimated to grow at 3.9 per cent this fiscal, the Economic Survey said on Monday, while suggesting to the government to give priority to crop diversification, allied farm sectors and alternative fertilisers like Nano urea. The Economic Survey 2021-22 also pitched for increasing agriculture research and development (R&D) and organic farming, besides use of new technologies like drones. "The performance of the agriculture and the allied sector has been resilient to the COVID-19 shock. ...Growth in allied sectors including livestock, dairying and fisheries has been the major drivers of overall growth in the sector," the Survey said. The agriculture sector has experienced buoyant growth in the past two years.
The cost of production of onion is around 800-900 per quintal, while prices are hovering around 500 per quintal across major wholesale markets.
'...Market-linked debentures, high-value insurance, exemptions from capital gains by investment in real estate, etc.' 'So, there are a number of measures directed at collecting a fair share from higher income individuals.'
Prime Minister Narendra Modi on Tuesday launched 35 crop varieties with special traits -- developed by the Indian Council of Agricultural Research (ICAR) -- to address the twin challenges of climate change and malnutrition. The new crop varieties were dedicated to the nation through a video conference organised at all ICAR institutes, state and central agricultural universities and Krishi Vighyan Kendra. According to the PMO, 35 crop varieties with special traits like climate resilience and higher nutrient-content have been developed in 2021.
The unemployment rate shot up to a record 10.9 per cent in the week that ended on December 18, points out Mahesh Vyas.
In a major development, India and the US have agreed to end six trade disputes at the WTO through mutually agreed solutions, while New Delhi will remove retaliatory customs duties on certain American products such as almonds, walnuts, and apples.
India and Australia would now implement the free trade agreement on a mutually agreed date as the Australian Parliament on Tuesday approved the pact between the two countries. "BREAKING: Our Free Trade Agreement with India has passed through parliament," Australian Prime Minister Anthony Albanese said in a tweet. The India-Australia Economic Cooperation and Trade Agreement (AI-ECTA) needed ratification by the Australian parliament before its implementation.
'The decision to supply free food grains is not an economically sound decision because the government will find it very difficult in future to charge anything for food grains.'
The government's predicament is a result of its own doing: That of not ensuring adequate buy-in by the stakeholders before passage of the laws, notes Vivek Gumaste.
'By 2020 around 34% of India's population will be in the 15-34 age group.' 'More than 70% of them live in rural areas.' 'Their energy and enthusiasm need to be tapped in order to meet their aspirations and transform agriculture and the rural economy,' says P K Joshi.
'Whatever I did, I did for the farmers and whatever I am doing, I am doing for the country'
Google is building voice and text search for over 100 Indian languages and will spend $75 million to support women-led startups in the country, said its CEO Sundar Pichai at the start of his visit to India - a nation that he saw as a big export economy. India, he said, will be a big export economy and it needs to create a balance between safeguarding citizens and enabling companies to innovate with its framework. Pichai first met Telecom and IT Minister Ashwini Vaishnaw and spoke at a Google for India 2022 event before calling on Prime Minister Narendra Modi.
'We are working on both electric scooters and motorcycles.'
Expect a more modest out-turn of around 5 per cent (if not less) because of the longer-term scarring effects of the Covid shock, the sharply slowing growth in the pre-Covid years and some scepticism about the growth-efficacy of some of recent official policy initiatives, explains Shankar Acharya, former chief economic advisor to the government.
The 68-year-old influential Arab leader will grace the Republic Day celebrations on January 26. Sisi is accompanied by a high-level delegation.
Country's onion output stood at 175.11 lakh tonnes in the crop year 2011-12, while in the year 2012-13 production is estimated at 166.55 lakh tonnes (provisional), Agriculture Minister Sharad Pawar said in a written reply in the Lok Sabha.
Jim Rogers, expert financial consultant, predicts a US recession in the near future and advises sound investment in agriculture.
Rumours are flying that several people were killed and injured in police action in the town, hours after a bandh called by Indigenous Tribal Leaders Forum (ITLF) concluded at 4 pm.
The 'sudden volatility' in Adani stocks is entirely due to a series of events that was extreme and unique, and played out in too short a period. Investors and regulators pretended that it wasn't so. But then, along came Hindenburg, which forced some eyes to open, points out Debashis Basu.
Neetu Yadav and Kirti Jangra teamed up to create an app that is possibly the platinum standard for apps targeted at Bharat.
E-commerce players may soon rent out drones, so you can use them the way you book a cab on an app, and test viable use-cases for last-mile delivery.
'The corruption charges in FCI are not the first and won't be the last.'
The phone conversation came days after it emerged that Modi will not be travelling to Russia for the annual India-Russia summit this year.
'The BJP leadership and its agriculture minister must make up their mind on what kind of corrective measures will be needed for Indian agriculture at this point in time.' 'The sooner Mr Singh provides policy clarity on this vital issue, the better are the chances of India's agriculture and farmers emerging out of their current mess,' says A K Bhattacharya.
Motilal Oswal of Motilal Oswal Financial Services tells Puneet Wadhwa why he thinks the current market levels will sustain.
He is not good at thinking through laws and policies. His lockdown produced chaos and misery and didn't stop Covid. His GST finished off thousands of companies and reduced the amount of tax government collects to such an extent that he cannot pay state governments any more, observes Aakar Patel.
Besides Budget, markets will be driven by global events and the outcome of assembly elections.
The automobile sector is considered a good indicator of economic health. It has a very long value chain, from primary materials, like metals, glass and plastic, to value-added high-end electronic components, specialised alloys, and software.
Three key agriculture Bills, approved by the Lok Sabha, are facing staunch opposition from within the ruling coalition with senior minister Harsmirat Kaur Badal resigning in protest and farmers hitting the street.
Dilip Bhat, joint managing director of the Prabhudas Lilladher group, a financial products agency, talks to Business Standard about the market rally ahead of the elections.
"Democracy has been shamed by the manner in which the government passed death warrants against farmers in the form of two farm bills in Rajya Sabha," he tweeted.
Adani Defence & Aerospace has entered into definitive agreements for acquiring 50 per cent equity stake in agricultural drone startup General Aeronautics for an undisclosed amount. Bengaluru-based General Aeronautics specialises in developing robotic drones to offer tech-enabled crop protection services, crop health monitoring, precision farming and yield monitoring services using artificial intelligence and data analytics.
The temporary disruptions (primarily to private consumption) caused by cash shortages accompanying the currency exchange initiative are expected to gradually dissipate in 2017 as cash shortages ease, the International Monetary Fund said in its regional economic outlook.
'You know the kind of force involved in all of this. They are not good for the country where all of this will happen.'
Casual labour, which is the type of employment provided by agriculture, yields much lower wages -- of the order of Rs 291 per day. Labour would not voluntarily shift to this lowest wage-rate sector unless it had no better option, observes Mahesh Vyas.
'The financial sector will be hit even harder than the overall market.' 'The banking sector will eventually be rescued.' 'But it may go into a long downwards spiral before things turn around.' 'Threat or buying opportunity?' asks Devangshu Datta.
'The finance ministry and the RBI will never admit to the difficulties in the economy because if they do so, it will adversely impact the financial markets, etc.' 'They like to present a rosy picture that everything is fine and under control.'
India has secured approval of the United States Department of Agriculture (USDA) for the export of domestic mangoes to America in the new season, the commerce ministry said on Tuesday. The export of Indian mangoes has been restricted by the US since 2020 as the USDA inspectors were unable to visit India for inspection of irradiation facilities due to restrictions imposed on international travel because of the COVID-19 pandemic. On November 23, 2021, the Department of Agriculture and Farmers Welfare and the USDA signed a framework agreement for implementing the "2 Vs 2" agri-market access issues.
Let's wait for the monetary policy on February 8 -- to see how it complements the fiscal commitments, points out Tamal Bandyopadhyay.
The government, under the Finance Act, 2020, had allowed tax exemption for SWFs and pension funds in the case of incomes from investment in 34 key infrastructure sectors, including hotels, cold chains, educational institutions, hospitals, and gas pipelines.
