The government has agreed to remove coal from the list of essential commodities in the Essential Commodities Act, the Lok Sabha was informed on Thursday.
Is sugar an essential commodity like your daily staples of wheat, rice and pulses? Well, the sweet commodity should not be included in the list of essential commodities by the government, says a new study by consulting firm KPMG.
These items will remain under essential commodities segment till June-end, a move aimed at ensuring availability at reasonable prices and cracking down on hoarders/black marketeers.
A year after it declassified steel and its products from the list of essential commodities, the government is preparing to bring it back under the ambit of the Essential Commodities Act, 1955. The Act gives power to the government to control production, supply and distribution of essential commodities at a fair price.
Though the Centre has asked states to crack down on speculators and hoarders to check spiraling prise of onion, state governments could do little as the commodity is not under the purview of the Essential Commodities Act, a senior government official said.
On March 13, the Union consumer affairs ministry had declared face masks and hand sanitisers as essential commodities for 100 days to boost supply and prevent hoarding of these items in its fight to check the spread of coronavirus.
This will allow free movement of onions within the country and for export. The removal of unnecessary restrictions and relaxations of controls on 'onion' will give fair returns to growers, promote consumer interest and free trade.\n\n\n\n
Marriage ceremonies will never be the same again in Jammu and Kashmir. The government has brought nuptials of all religious hues under the Essential Commodities Act to prevent wastage of food at wedding feasts.
In a series of tweets, Shah also asked people not to panic as the whole country would fight the coronavirus outbreak together.
In a series of tweets, the home minister also appealed to the affluent people to help the needy living nearby.
Karnataka authorities conducted a three-day statewide crackdown on illegal diversion of subsidised Public Distribution System (PDS) foodgrain, seizing 5.65 lakh kg of rice and 24 transport vehicles worth a total of Rs 4.76 crore. Six criminal cases have been registered against nine individuals, and two officials have been suspended for dereliction of duty.
The roll out of the proposed Goods and Service Tax (GST) will push prices of essential commodities like atta (flour), maida, vanaspati ghee, mustard oil, tea, arhar dal and moong dal by 5.5-6 per cent.
After cyclone Hudhud wreaked havoc in Vizag, also called the 'city of destiny', citizens continued to scramble for essential commodities on third day on Tuesday with no signs of immediate restoration of electricity and communication while their sufferings being exacerbated by seemingly tardy response by agencies concerned.
The Supreme Court has strongly criticised the exorbitant markup on cancer drugs by hospitals, calling it "carnage" and "broad daylight dacoity." The court highlighted a case where a cancer drug was marked up ten times its retail price and urged the Centre to implement a uniform 16% margin on all medicines. It also raised concerns about hospitals forcing patients to buy medicines from their in-house chemists.
The Indian government has approved the introduction of one billion polymer banknotes in Rs 10 and Rs 20 denominations for field trials, aiming to enhance durability. This move comes as the Finance Minister also addressed Parliament on declining retail inflation, GST reforms, and other fiscal measures taken to support the economy and household consumption.
The District Supply Department in Nanded conducted a raid on a residence, uncovering an illegal stockpile of LPG cylinders and initiating legal action against the individual involved.
If the new MDR regime is rolled out from the middle of this month, as scheduled, it should count as one of the boldest political actions by the Modi government on an economic-policy issue, and a signal that it is less worried about erosion of political capital it draws from one of its key constituencies, notes A K Bhattacharya.
The government has withdrawn most provisions of the emergency natural gas supply regulation order imposed during the West Asia conflict after liquefied natural gas (LNG) shipments through the Strait of Hormuz resumed following a ceasefire.
The Centre has reviewed the monsoon situation, noting a reduced rainfall deficit and ongoing preparedness for the kharif season amidst El Nino concerns. A high-level meeting chaired by the Principal Secretary to the Prime Minister discussed measures across various sectors, emphasising continuous monitoring and coordinated action to mitigate potential impacts on agriculture, water resources, and essential commodities.
Police in Thane district seized 84 illegally stored LPG cylinders worth Rs 2.22 lakh from a private premises in Bhiwandi, leading to a case against three individuals under the Essential Commodities Act. The raid comes amid increased vigilance to prevent hoarding and black marketing of domestic gas cylinders.
Police in Hoshiarpur have arrested two men for allegedly stealing LPG from tankers and illegally selling it. The suspects were caught in Dasuya during a raid where they were transferring LPG into domestic cylinders.
The Indian government has reassured citizens that the country has sufficient reserves of petrol, diesel, and LPG, and that refineries are operating at high capacity despite global supply chain disruptions. They have urged citizens to avoid panic buying and hoarding.
'In fact, when monetary policy has been deployed, it does not distinguish between types of shocks. It goes straight for the kill.'
Authorities in Gurugram, India, have cracked down on the black marketing of domestic LPG cylinders, seizing 32 cylinders and detaining one individual involved in illegally siphoning gas.
Truck drivers in Manipur's Imphal West district are protesting and have suspended the transport of goods following the killing of a commercial vehicle driver. The protest is taking place at Keithelmanbi, with truckers demanding improved security measures along National Highway 37.
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Delhi Police arrested three individuals in Shaheen Bagh for allegedly hoarding and black marketing domestic LPG cylinders. The accused were caught after a raid and found to be illegally transferring subsidised gas for profit.
The Indian government has restricted industrial, commercial, and institutional users from purchasing petrol and diesel from retail petrol pumps, directing them to bulk sale points instead. This move, which can last up to 90 days, aims to address abnormal demand growth and prevent localised shortages caused by a significant price difference between retail and bulk fuel prices.
Commodity markets, especially the metals, are among the most volatile segments of the Indian financial ecosystem. To traders involved in commodity trading, it is not only helpful to keep track of the daily price changes but also necessary to make informed trading decisions. Commodities like gold, silver, copper, and aluminium react to many different factors, which makes it imperative for commodity traders to watch out for metal prices every day.
Their message is blunt: Public scientific wealth should not be transferred at what they describe as 'throwaway prices'.capability, recruitment, promotional avenues and the voice of its employees.
A joint operation by police and revenue officials in Beed, Maharashtra, resulted in the seizure of 29 illegally stored LPG cylinders intended for black marketing, amidst concerns of potential shortages due to the West Asia crisis.
India Inc's first-quarter earnings season was significantly impacted by the West Asia conflict, leading to rising costs, calibrated price increases, and margin pressures across various sectors including FMCG, automotive, steel, and cement. Companies are implementing price hikes to protect profitability, with many anticipating further escalations if input costs remain elevated.
The Indian government has issued a stern warning to industrial users who are reportedly procuring cheaper retail fuel instead of industrial-grade fuel, leading to significant losses for state-run oil marketing companies (OMCs) and potential local shortages. This diversion, driven by a substantial price difference between retail and bulk diesel, is adversely impacting OMCs, which are absorbing daily losses of approximately 550 crore to keep retail prices stable.
Finance Minister Nirmala Sitharaman stated that India is likely to sustain economic growth of 7 per cent or more in 2026-27, continuing the pace recorded since the Covid-19 pandemic, despite geopolitical uncertainties and supply-chain disruptions.
Uttar Pradesh authorities have launched a statewide crackdown on black marketing of LPG and other essential commodities, resulting in FIRs against distributors and arrests.
Senior TMC leader Abhishek Banerjee criticised the Modi government's economic policies, citing rising prices and hardships caused by demonetisation and lockdown measures during an election rally in West Bengal.
Police in Maharashtra's Beed district have invoked the Maharashtra Prevention of Dangerous Activities (MPDA) Act against five history-sheeters to prevent them from committing more offences.
Delhi Police arrested three men in Mahipalpur for illegally hoarding LPG cylinders and selling them at inflated prices. The raid uncovered a large number of domestic and commercial cylinders, along with refilling equipment.
Delhi Police busted an illegal LPG cylinder storage unit in Rajpur Khurd, arresting two individuals and seizing 223 cylinders. The facility was operating without a valid license, posing a safety risk to nearby residents.
Delhi Police arrested a gas agency owner for allegedly hoarding and black marketing LPG cylinders, seizing 459 cylinders in a raid.
