Reserve Bank of India (RBI) on Wednesday upped inflation projection for the current fiscal to 6.7 per cent from 5.7 per cent forecast in April. RBI Governor Shaktikanta Das said the upside risk to inflation persists and the recent spike in tomato prices would fuel food inflation. Also, high global crude oil prices would add to the upside pressure on inflation. The upward revision in inflation projection comes as domestic retail inflation has remained above RBI's comfort level of 6 per cent for four months in a row, mainly due to the Russia-Ukraine war which has impacted the prices of commodities across the globe.
While NSE is exploring 8-10 new agri-commodities, BSE is eyeing as many as 15, most of which aren't traded on any other online derivative exchange in India.
If the prime minister does not repeal these laws, the country will suffer, he said.
The report, which was submitted to the apex court on March 19, 2021, was made public on Monday. The three-member committee had also suggested many changes in the laws, including giving freedom to states to make Minimum Support Price (MSP) system legal.
Zerodha and True Beacon co-founder Nikhil Kamath, along with Abhijeet Pai, has invested in Omnipresent Robot Tech through their investment arm Gruhas Proptech. This round also saw co-investments from Kavin Shah, and other individual high networth individual (HNIs), according to a statement released on Thursday. However, the amount invested by Kamath and Pai has not been disclosed.
Some of the farmers allegedly tried to block Khattar's motorcade but police managed to provide a safe passage to the chief minister, sources said.
Weather scientists attribute the early onset of southwest monsoon over Kerala to the influence of the remnants of cyclone Asani that triggered the cross-equatorial flow, a key factor for the seasonal rains.
The BJP MP has been vocal in empathising with farmers agitating against the three agri laws enacted by the Modi government and sharing Vajpayee's speech is seen as his message to the central government.
Farmer leader Abhimanyu Kohar said the government has also made some corporate people members of the MSP panel.
Domestic-focused agricultural chemical (agrochem) companies could face near-term headwinds, given the worries on the El Nio effect on monsoons, higher inventory, and pressure on margins. Some of these were reflected in the October-December quarter (third quarter, or Q3) results of companies and may impact them in the current quarter (fourth quarter, or Q4) as well. Nuvama Research pointed out that the sector witnessed mixed performance during the quarter as global agrochem and domestic fertiliser companies maintained growth momentum, while adverse agronomical conditions and excess channel inventory weighed on domestic market volume offtake.
In a series of tweets, the Delhi Traffic Police said Tikri and Dhansa borders are closed for traffic movement, while Jhatikara border is open only for two-wheelers and pedestrians.
The government, in its proposal circulated among the leaders on Wednesday, offered to amend 7-8 issues, including providing a written assurance of minimum support price.
Sluggish rural demand along with higher inflation is set to mute revenue growth of the fast-moving consumer goods (FMCG) sector at 7-9 per cent this fiscal and the next compared to 8.5 per cent in the previous fiscal, a report said. Almost 40 per cent of the Rs 4.7-lakh-crore sector come from the hinterland markets, which have been hit by high inflation, low wages and high job losses since the Covid pandemic. Revenue growth of the FMCG sector will be muted at 7-9 per cent this fiscal and the next compared to 8.5 per cent in the last, while volume growth will be just about 1-2 per cent, down from 2.5 per cent last fiscal, Crisil said in a report on Monday.
Dominic Xavier wonders if the rulers in Delhi will see the light, address the farmers's grievances and let them go home (though he doubts it).
Union minister Rajeev Chandrashekar on Tuesday rejected Dorsey's claim, calling it an "outright lie" and "an attempt to brush out that very dubious period" of firm's history.
In the meeting, which will be held virtually, party leaders will also discuss the current Covid and political situations.
DroughtThe Centre is expected to discuss issues related to drought management and also review the progress of major central schemes like soil health cards, irrigation programmes
Nationalist Congress Party president Sharad Pawar on Friday said he will take part in a protest planned in Mumbai to express support for farmers agitating against the new agri-marketing laws enacted by the Modi government.
YES Bank has launched a $100-million private equity fund called the Food and Agribusiness India Fund.
With the commodities market growing in leaps and bounds, the prospects of agriculture students are very bright.
ITC Ltd on Friday reported a 23.09 per cent increase in consolidated net profit at Rs 5,070.09 crore for the third quarter ended December 2022, helped by growth momentum across its operating segments. The diversified company had posted a net profit of Rs 4,118.80 crore during the October-December quarter of the previous fiscal, ITC said in a regulatory filing. Its revenue from operations was up 3.56 per cent to Rs 19,020.65 crore during the quarter under review, as against Rs 18,365.80 crore in the corresponding period of the previous fiscal.
The US on Tuesday said it was in favour of eliminating all trade distorting agricultural subsidies. However, it expressed disagreement with the Indian stand of protecting almost the entire agricultural market.
The committee, headed by former agriculture secretary Sanjay Agrawal, discussed ways to "promote zero budget based farming", to "change" crop patterns keeping in mind the changing needs of the country, and to make MSP more "effective and transparent".
The "black ink and the deadly attack" cannot suppress the voices of farmers and labourers, Bharatiya Kisan Union leader Rakesh Tikait said after ink was thrown on him in Bengaluru.
Sumit Bhosle sent us these pictures of fruits from his farm in Sawantwadi.
Five-time former Punjab chief minister and Shiromani Akali Dal patriarch Parkash Singh Badal, who was admitted to a private hospital in Mohali over a week ago, died on Tuesday. He was 95.
Taking a tour of the Agriculture and Food Security Expo at St Xavier's College in Mumbai on Sunday, Obama had displayed a keen interest in the products on display and asked entrepreneurs to take their 'remarkable' work around the world.
The leaders neither spoke from the podium of the Kisan Sansad (farmers' parliament) nor were they seated on the dais.
The Congress on Friday promised that if the party is voted to power in Gujarat, where assembly elections are due by the yearend, it would waive farm loans of up to Rs 3 lakh and provide free electricity for 10 hours daily to farmers in the state.
'An eerie similarity with 2019 inflation trajectory could now mean that the RBI and market inflation estimates could go awry.'
'The CM kept his cool, but his adviser was liberal with filthy language.' Tamal Bandyopadhyay recreates the diary of a general manager in a public sector bank, providing a glimpse of how they balance their work and life.
Discussion on the two bills could not take place as Opposition members continued to stage protests demanding a discussion on the Pegasus snooping allegations and the farmers' demand of repealing the three new agri laws.
He also urged people demonstrating against the laws across the country to observe a day-long hunger strike at their respective protest sites.
"I categorically state that the central government has no plan to impose any tax on agriculture income," Jaitley said in a tweet.
The Union Budget on Wednesday outlined several initiatives to drive India's technology agenda and boost digital infrastructure, including new centres of excellence for artificial intelligence, National Data Governance Policy, and Entity DigiLocker.
Rashtriya Kisan Mazdoor Mahasangh national president Shiv Kumar Kakka said that every day from July 22, 200 farmers, wearing identification badges, will go to Jantar Mantar from the Singhu border to hold the protest.
Lumpy Skin Disease has spread in more than a dozen states including Gujarat, Rajasthan, Punjab and Haryana.
Here are the key decisions announced by the Reserve Bank of India on Thursday.
The Directorate of Research on Women in Agriculture, a constituent of Indian Council of Agricultural Research, is also in contact with entrepreneurs for commercial production of its innovative products and their marketing for enhancing efficiency of farm women.
