ITC's results for the January-March quarter (Q4) were strong, with robust growth in the fast-moving consumer goods (FMCG) segment and a good performance in hospitality. The tobacco division's performance was on expected lines, with double-digit volume growth, helped by reclaiming of market share from the smuggled trade. There was 60 per cent growth in non-cigarette earnings before interest and tax (Ebit), despite a relatively weak performance in paperboards.
India needs a second green revolution along with the next generation of reforms with a view to make agriculture more climate-resistant and environmentally sustainable, said an RBI article on farm sector challenges. Observing that Indian agriculture has exhibited remarkable resilience during the COVID-19 period, the article said "new emerging challenges warrant a second green revolution along with next-generation reforms". Despite the success in terms of production that has ensured food security in the country, food inflation and its volatility remain a challenge, which requires supply-side interventions such as higher public investment, storage infrastructure and promotion of food processing, said the article titled 'Indian Agriculture: Achievements and Challenges'.
Farmer leader Kanwalpreet Singh Pannu said that thousands of farmers will start their 'Delhi Chalo' march from Rajasthan's Shahjahanpur through the Jaipur-Delhi Highway at 11 am on Sunday.
Undeterred by the winter chill, thousands of farmers have stayed put at various border points of Delhi for the past nine days as part of their protest against the Centre's farm laws.
'We want to make sustainability affordable.' 'We tell everyone, don't just recycle, Craste it!'
Farmers from Punjab clashed with Haryana police at two border points between the states on Tuesday, facing tear gas and water cannons as they tried to break past barricades blocking their protest march to the national capital. The police lobbed tear gas shells -- some of them dropped from a drone -- and tried to disperse groups of stone-pelting protesters in the face-off that last several hours at Shambhu border near Ambala in Haryana.
Kiran Vissa, co-convenor of National Alliance for Sustainable Agriculture, said that amendments to the EC Act have nothing to do with farmers' welfare but instead meant to please big players and agriculture companies. This is because small and marginal farmers don't have the storage capacity to attract provisions of the EC Act.
The irony of this scheme to benefit farmers is that it could add to the problems for the government because the mechanism to procure and store crops like pulses, coarse cereals and oilseeds barely exists.
Agriculture and allied activity loans are not eligible for the interest on interest waiver announced by the government last week, the finance ministry has clarified.
The Centre has, perhaps for the first time, decided to provide funding support to farmer-producer organisations, krishi vigyan kendras, custom hiring centres, and individuals for purchasing them.
'Due to rural stress, volumes continue to remain an issue for the industry, and we are yet to see any revival in demand.'
While some states have kicked in their heat action plans, experts feel this is not enough to tackle the current extreme weather.
Some farmers in the state's Karnal, Jind and Ambala districts had destroyed wheat crops over two to four acres of their land.
Rural India was left to fend for itself by those who ruled the country earlier, Modi said in a swipe at the Congress.
A hotel in 1975, entry into paperboards in 1979, India's dominant cigarette maker, ITC, read the tea - or tobacco - leaves early, leveraged its enterprise strengths and stepped up the diversification agenda to create multiple drivers of growth. Some failed, some faltered, some were transformational, adding steadily to the top line. Now those efforts are making a difference: margins from non-cigarettes - FMCG, hotels, agri, paperboards, paper and packaging - are expanding and profits are kicking in more significantly than ever before.
'Today arrogance of power has gone to your head. Why are you losing the mandate? We are endorsing all rotten policies of the Congress which is not in our interest. Leakage in drops of water from a pitcher empties it. So is with the mandate'
Farmers protesting at various sites on the border of Delhi on Monday unequivocally said they are only concerned about their common goal of having the three farm laws repealed, and what has been offered to the agriculture sector in the Union budget did not matter.
Baramati Agro works in the fields of animal and poultry feed manufacturing, sugar and ethanol manufacturing, co-generation of power, trading of agri-commodities, fruits and vegetables and dairy products.
The IMF believes the farm laws passed by the Indian government have the potential to represent a significant step forward for agricultural reforms, but a social safety net is needed to protect those who might be adversely impacted during the transition to the new system, a spokesperson of the global lender said in Washington.
These farmers, belonging to various districts of western Uttar Pradesh, have come for the demonstration on the call of farmers' union Kisan Sena and want to go to Delhi to meet Union Agriculture Minister Narendra Singh Tomar, according to the outfit's conevnor Thakur Gauri Shankar Singh.
The letter by Singh, who is camping at the Dalit Prerna Sthal in Noida along with his faction members since December 2, came as protestors marked the birth anniversary of former prime minister and farmers' leader Chaudhary Charan Singh.
Agriculture credit is likely to exceed the target of Rs 7,00,000 crore while farm exports are expected to increase to over $45 billion in the current fiscal, Finance Minister P Chidambaram said today.
He asserted that the government purchase of farm produce will remain, adding that the mechanism of minimum support price will continue in the same way it always has.
The Nationalist Democratic Progressive Party (NDPP)-Bharatiya Janata Party alliance won 37 seats in Nagaland Assembly election, retaining the power in the state with Neiphiu Rio set to assume office as chief minister for a fifth consecutive term.
The Congress also stepped up the offensive against the government by launching an online campaign in support of the farmers' agitation, with party leader Rahul Gandhi accusing the government of betraying the farmers for benefitting their 'corporate friends'.
As farmers continue their protests demanding repealing of the three new laws, Kumar also emphasised that continued negotiations with protesting farmers is of course the way forward.
Kisan Mazdoor Sangh (KMS) and Kisan Sena (KS) made a representation, which also included a demand for strengthening the dispute resolution system in case of any trouble in contract farming.
He said Congress would push Madhya Pradesh back into the BIMARU (laggard) category if given an opportunity again.
The delegation of 20 'progressive farmers' from Haryana, led by Padma Shri awardee Kanwal Singh Chauhan, said the government may amend some provisions of the laws but should not repeal them.
Under the PMFBY - introduced in 2016 - farmers have to pay a maximum of 2 per cent of the sum insured for kharif and 1.5 per cent for rabi food and oilseed crops and 5 per cent for commercial/horticultural crops. Eighteen general insurance companies, including five public sector insurance firms, have been empanelled for the scheme's implementation.
Modernisation of agricultural marketing is important, says Montek Singh Ahluwalia
Sitharaman said the government also proposes Pradhan Mantri Matsya Sampada Yojana to address critical infrastructure gap in fisheries sector.
'The focus needs to shift towards the ability to collect payments, particularly in tier-3 to tier-4 areas where acceptance is still lacking.'
In a bid to boost agriculture infrastructure, the government on Monday announced a cess on certain items, including petrol, diesel, gold and some imported agricultural products. While proposing the Agriculture Infrastructure and Development Cess (AIDC), Finance Minister Nirmala Sitharaman also said that care has been taken not to put additional burden on consumers on most items. There is an immediate need to improve agricultural infrastructure so that we produce more, while also conserving and processing agricultural output efficiently, the minister said in her Budget Speech in Lok Sabha.
The government is looking at tweaking provisions of the Indian Contracts Act of 1872 to bring agreements between farmers and companies under its ambit, aiming to prevent exploitation of farm people.
A division bench led by Justice Nitin Jamdar said the MPCB order was set aside for being 'disproportionate' and noted the order was passed in a 'hasty manner'.
23 trains have been partially cancelled and five short terminated till September 26 as protesters blocked rail tracks at various places, including Amritsar, Ferozepur, Sangrur, Barnala, Mansa and Nabha.
The government will have to move a bill in Parliament to repeal the three agri laws, which were at the centre of protests by farmers for the past year, Constitution and legal experts said on Friday.
The resolution seeking his reappointment as chairman and managing director of the diversified conglomerate will be put to vote at the company's annual general meeting to be held on August 11, 2023, according to a notice sent to the shareholders on Tuesday. The company under Puri drove the 'ITC Next' strategy in the last four years encompassing digital acceleration, cost optimisation, investing in new growth vectors and ensuring supply chain agility, its officials said.
ITC's move to demerge the hotel business into a new entity, ITC Hotels Ltd, is a step in the right direction and will allay investor's concerns on the company's capital allocation strategy in the medium-to-long term, said analysts at Morgan Stanley in a note. According to the company, the board of directors has approved in principle the demerger of the hotels business, wherein ITC will hold a 40 per cent stake in the new entity, and the remaining 60 per cent will be held directly by shareholders. The scheme of arrangement shall be placed for approval of the Board at its next meeting to be convened on 14th August 2023.
