The cumulative loss of salaried jobs since the pandemic is even larger at 12.6 million, reveals Mahesh Vyas.
In all, RBI has cut interest rates by 110 bps this year. But this has not yet led to a boost in economic activity. While the growth rate has slowed to a five-year low, consumer confidence is waning and foreign direct investment has plateaued.
The fund allocated for pulses buffer is more than 40% of entire farm ministry's 2016-17 budget.
People normally pray for good rain. But in a few villages of Chhattisgarh this year, it is a different story.
Eleven per cent increase in post-monsoon rain and new farm technologies are likely to more than make up for drought-hit kharif crop and result in a bumper grain production of about 220 million tonnes in 2004-05
Since April, India has seen multiple strains of the coronanavirus sweep the nation, upending life and businesses alike. Out-of-home retail and discretionary categories such as durables, auto, fashion, lifestyle, hospitality, food services, travel, and tourism have been the worst-hit as Covid cases remain high, leaving state governments with no option but to curtail mobility and economic activity.
At present, 100 days of work is provided to rural job card holders under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA).
India is expected to harvest 291.95 mt of foodgrain in 2019-20
A meeting convened by Congress president Sonia Gandhi on Friday afternoon will see the leaders of around 20 opposition parties come together on a common platform through video-conferencing.
The reforms will help FPOs procure directly from farmers, something that they have been pressing for long.
Agriculture Minister Sharad Pawar said on Thursday onion prices will ease in the next two-three weeks as fresh output arrives from Maharashtra and other states, providing relief to consumers.
With the farmers' protest against the three new laws and in support of legalising the minimum support price (MSP) going strong, state governments have announced a slew of measures in their annual Budgets to placate farmers. The Centre kicked things off in the Union Budget by assuring farmers that the MSP would continue and coming out with a report card to demonstrate its commitment. However, these efforts don't seem to have yielded tangible results. In their respective Budgets, states chose to go a step further by announcing a variety of measures.
Syed Firdaus Ashraf/Rediff.com lists 11 Modi flagship schemes that may have been gamechangers in the Lok Sabha election.
While reforms may translate into new opportunities for firms like ITC, Adani Wilmar and Reliance Retail, farmers are unlikely to use it for fear of upsetting commission agents.
Where do the four members of the Supreme Court appointed panel to interface with farmers stand on the Modi government's farm laws?
The move came a day after Parliament approved two agriculture sector-reform bills which have been bitterly opposed by the opposition parties like Congress and TMC.
The government on Thursday said based on the current monsoon situation, India's foodgrains output may rise by 29 per cent to 115 million tonnes.
The Reserve Bank of India on Thursday raised its inflation projection to 5.1-4.7 per cent for the second half of the current fiscal on the back of spike in prices of vegetables such as onion and tomatoes.
The Reserve Bank of India (RBI) on Friday decided to leave the benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance, implying rate cuts in the future if need arises to support the economy hit by the Covid-19 pandemic.
Modi said "timing" is very important to deal with any crisis and "decisions taken at the right time have helped a lot in controlling the coronavirus infection in the country".
He said the government would provide meal at Rs 10 to common citizens and build a super-speciality hospital in every district of the state.
The decision will help farmers earn an additional income of Rs 62,635 crore
'I would want people to have food on their tables and their wages to rise.' 'Will that happen or not is the question that we need to ask and answer.'
The Centre for Monitoring Indian Economy on Tuesday said industrial production growth is likely to decline in the second half of the current fiscal, while the first advanced estimate of kharif crop showed a 10 per cent drop in food production.\n\n\n\n
"Manmohan Singh Ji (former Prime Minister) tried many times but could not do. Today when it is implemented, propaganda is being spread," Tomar said.
Last month, the agriculture ministry had projected 10 per cent fall in kharif foodgrains production at 117.18 million tonnes in view of poor rains and drought in more than 360 taluks in Karnataka, Maharashtra, Rajasthan and Gujarat.
In its Fifth Bi-monthly Monetary Policy Statement, 2017-18, RBI said the second quarter growth was lower than the one that was projected in the October review, and the recent increase in oil prices may have a negative impact on margins of firms and Gross Value Added (GVA) growth.
According to the Indian Council of Agricultural Research Director General Trilochan Mohapatra, the insects have attacked about 40,000 hectares of land.
The rains have so far been four per cent below normal.
Around 40 per cent of the country is staring at drought-like conditions ahead of the monsoon as water levels have receded sharply.
NCDEX benchmark index up 10% over a month, as expectations on sowing gather pace
On reforms in pipeline, she said the government is for universal right to minimum wages and wants to remove regional disparity through a national floor wage.
Shortage of seeds, threat of El Nino expected to restrict sowing.
As the kharif sowing season exceeds two months, no crop has managed to reach the normal area of cultivation (average of the past five years), except for sugarcane, cotton and jute.
As of now, monsoon rains are deficient by 21 per cent across India, affecting sowing of kharif crops. Karnataka, Maharashtra, Gujarat, Haryana, Punjab and West Rajasthan have been the worst-hit regions this year.
Prices of essential commodities, including foodgrains, have surged 8-10 per cent in just three days, because of deficient rains and on concerns that the farm output this kharif season would be hit badly.
As the southwest monsoon continues to narrow its overall deficit, the India Meteorological Department (IMD) on Wednesday exuded confidence that the dreaded El Nino weather pattern was unlikely to affect monsoon rains this year.
