The surge in wheat export from India owing to the Ukraine crisis has once again demonstrated how farmers in states that have flexible marketing frameworks and low taxes benefit more from an emerging situation. The bulk of the wheat exported from India, trade and industry sources say, is being sourced at rates significantly higher than the state-mandated price of Rs 2,015 per quintal in Madhya Pradesh (MP), Uttar Pradesh (UP), and Gujarat - states which have low mandi taxes compared to Punjab and Haryana. This is not only benefiting farmers there but could also lead to significant savings for the states in procurement costs in the months to come.
Hindustan Aeronautics (HAL) is one of the largest beneficiaries of the defence indigenisation programme. The aerospace Public Sector Undertaking (PSU) has just received a new tender for 97 Light Combat Aircraft (LCA) Tejas Mk1A, and it is already servicing an earlier order for 83 LCA aircraft. The new order is worth around Rs 65,000 crore with a 65 per cent indigenisation component, whereas the earlier order (February 21) was worth Rs 45,700 crore with 55 per cent indigenisation.
The Bill at best makes the existing public distribution system a legal right, an aspect that seems of little consequence to the lords of high finance, whose primary anxiety is the FSB-by-numbers.
Why did Karnataka's economic prosperity fail to influence the nature of electoral promises made by political parties in the run-up to the assembly elections? asks A K Bhattacharya.
'Agri reforms need to go beyond the limited concerns of these three laws in improving agriculture productivity in cereal and crop diversification and production patterns.'
From social engineering to bearing the cost of COVID-19 treatment to financial reconstruction of Tamil Nadu's debt the debutant chief minister is emerging as a leader with a difference, says Shjne Jacob
Telecom and IT Minister Ravi Shankar Prasad said one of the primary focus areas of Digital India is Pillar 5: eKranti - electronic delivery of services.
In a letter written recently to the Finance Minister, Pawar had said that arrears of sugar mills have risen to over Rs 10,000 crore (Rs 100 billion) and there was a need to hike import duty to curb shipments, which is putting downward pressure on local prices.
'The 2024 election results will lead to much intense targeting of Modi, more intense debates, many more breakdowns in Parliament and many more movements on the streets.' 'The results have hit Modi's standing, and the politics of the Opposition parties will be sharply focused to ensure that Modi doesn't get back his charisma of being 'invincible' with help of State power.' Sheela Bhatt looks at the political situation through the prism of 2024 Lok Sabha election results.
Cracking down further on hoarding, the Centre on Wednesday put onion and potato under purview of the Essential Commodities Act and imposed stock holding limits in a bid to improve availability and rein in prices.
A 6-7 million tonnes shortfall in rice production due to a fall in paddy sowing area is likely to keep rice prices at elevated levels, adding to the inflationary pressure that the slowing economy is already grappling with. Elevated food prices, including that of cereals, had led to retail inflation reversing a three-month declining trend, to touch 7 per cent in August. Similarly, the wholesale price inflation, which declined to 11-month low, also showed price pressures from cereals resulting from wheat output being impacted by severe heat waves in some parts of the country.
The self-employed should invest in the National Pension System, a government-backed, low-cost retirement avenue where they can choose the mix of debt and equity that is right for them.
To ensure enough food to the poor during the lockdown, the government last week started distributing free 5 kg of rice or wheat per person and 1 kg pulse per household under the Pradhan Mantri Garib Kalyan Yojana to over 81 crore PDS beneficiaries.
Both prime ministers believed in crafting schemes to help the common man. Modi used quite effectively the instruments Dr Singh introduced. In assessing Modi's success with many schemes, Dr Singh's fundamental work should not be ignored, points out A K Bhattacharya.
The free food scheme is driven by electoral considerations, but its long-term fiscal risks outweigh the short-term gains, cautions A K Bhattacharya.
The finance minister has stayed true to her commitment to fiscal consolidation, even though the pace of the decline in the deficit could have been faster, notes A K Bhattacharya.
Under-recovery or revenue loss on diesel has risen to Rs 10.48 per litre from Rs 9.99 a litre in the first fortnight of December, an official statement said in New Delhi.
'Welfare schemes are not a necessary evil, they are a necessary good.'
The study showed that 50 per cent of households have reduced the number of meals ever since the lockdown was imposed
'We see mid-and small-caps as a real pot of gold.' 'From a 10-15 years perspective, mid-and small-cap are likely to outperform the larger index, as they have done in the past.'
Power Grid Corporation (PGCIL) intends to ramp up its capex substantially through the next two financial years. The Public Sector Undertaking (PSU) utility posted flat consolidated revenues of Rs 10,700 crore in the third quarter of the current financial year (Q3FY24) and reported 7 per cent year on year (Y-o-Y) growth in net profit to Rs 4,000 crore. The Q3FY24 capex stood at Rs 3,440 crore and capitalisation at Rs 1,780 crore, taking the 9MFY24 total to Rs 8,700 crore capex and Rs 5,800 crore capitalisation, respectively.
Under the TFA, a proposal of developed countries, WTO members are negotiating ways to facilitate trade, simplify and harmonise customs rules and reduce transactions cost. Although India is willing to negotiate on TFA, it has raised few concerns over the proposed agreement.
If nothing is done, the country is set to become 83 per cent energy-import-dependent by 2040.
The march, which commenced from Nashik on March 6, will culminate in Mumbai on Monday and protestors plan to gherao the Vidhan Bhavan where the Budget session of the state legislature is underway, said organisers.
For that to happen, Moitra's much followed speeches should be heard outside Parliament so that the PR spins of the ruling dispensation are countered with informed debate, argues Shyam G Menon.
A portfolio can be rebalanced by either selling a portion of the outperforming asset class or by buying more of the underperforming asset class.
India is expected to harvest 291.95 mt of foodgrain in 2019-20
Political opposition notwithstanding, the Samajwadi Party government in Uttar Pradesh has made elaborate arrangements to ensure that Prime Minister Narendra Modi's speech reaches lakhs of students in the state this Teachers' Day.
The Centre had asked the state governments to meet the millers.
'It has been an ongoing process, talking to the relevant ministries about eliminating leakages and curbing non-core expenditure in various schemes.'
The cost of non-subsidised LPG -- the one that consumers buy after exhausting their quota of 12 bottles of 14.2-kg at below market price -- has been cut by Rs 100.5 to Rs 637.
'The focus needs to shift towards the ability to collect payments, particularly in tier-3 to tier-4 areas where acceptance is still lacking.'
The move is being planned with a view to ensuring that the benefits provided by the government reach the beneficiaries and the process remains transparent.
Noted banker Uday Kotak said the country's financial system is currently in a Darwinian mode as only the fittest lenders are able to survive. Kotak also said that historically, whenever there has been a problem with a private sector lender, it has been merged with a state-run bank.
80% of beneficiaries in 300 districts to be linked with direct benefits transfer
'We went from zero to about 10 million users in three months. Paytm came out with the wallet play and we came out with the UPI play.'
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.
The prime minister took no names but made an apparent reference to reports about "rate card" for different government jobs in the Trinamool Congress-ruled West Bengal and prevalence of "cut money" in the state.
'What should surprise BJP supporters is Modi's call for 'stability' at the manifesto launch, a theme that he and his team members had not touched ahead of the Lok Sabha polls in 2014 and 2019.' 'The last time the party called for 'stability at the Centre' was in 1998 and 1999,' recalls N Sathiya Moorthy.
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