In total, the Centre plans to purchase around 40.7 million tonnes of wheat from farmers this year, which is almost 19 per cent more than last year.
Hinting at further relaxation in the capital account convertibility norms, RBI Deputy Governor T Rabi Sankar on Thursday said the country is on the cusp of some fundamental shifts with regard to currency management. India has come a long way in achieving increasing levels of convertibility on the capital account and has broadly achieved the desired outcome for the policy choices in terms of achieving a stable composition of foreign capital inflow, Sankar said while addressing the Foreign Exchange Dealers' Association of India's (FEDAI) annual day meeting. Convertibility refers to the ability to convert domestic currency into foreign currencies and vice versa to make payments for balance of payments transactions.
He also said the Centre has not answered the questions raised by him in the Lok Sabha on the issues of farmers and said its reply was a 'joke'.
In August, the central bank had announced that it will set up the Reserve Bank Innovation Hub (RBIH) to promote innovation across the financial sector by leveraging on technology and creating an environment that would facilitate and foster innovation.
The government's food subsidy in the ongoing fiscal year is expected to be a little less than Rs 4 trillion.
As the growth figures relate to pre-Covid lockdown period it does not reflect the real picture of distress which unfolded from April onwards in the sector, when acute supply disruption led to sharp drop in prices of many commodities largely perishables impacting farmers.
Armed with necessary macro and micro growth drivers, India is on its way to becoming the fastest growing major economy in the world, a finance ministry report said. Rapid vaccination and teeming festivities will push India's ongoing recovery resulting in narrowing of demand-supply mismatches and greater employment opportunities, as per the monthly Economic Review prepared by the ministry.
Boji, an Istanbul street dog, sometimes travels up to 30 km a day -- hopping between the metro, the ferries, the buses and the trams.
Uttar Pradesh Bharatiya Janata Party's working committee member Ram Iqbal Singh on Thursday said there would have been no agitation by farmers had the Centre consulted them before enacting the new agricultural laws.
If the CBDCs don't offer interest, why will people shift from cash to CBDCs?, asks Tamal Bandyopadhyay.
This is one of the largest monthly increases in the labour force, observes Mahesh Vyas.
The GDP growth is estimated to come at the "deceptively high" level of 20 per cent for the April-June 2021 quarter but is far below the same in the pre-COVID times, rating agency Icra said on Wednesday. Icra said the low base of the last year, when the GDP had contracted by close to 24 per cent, "conceals" the impact of the second wave of COVID-19 infections. Economic activity is boosted by robust government capital expenditure, merchandise exports and demand from the farm sector, it said, estimating the GDP to grow by 20 per cent and the gross value added (GVA) will register a growth of 17 per cent for the June quarter.
Hyderabad-based vaccine manufacturer Bharat Biotech, which is carrying out its phase 3 trial will publish the data in July following that the company will be applying for the full licensure of Covaxin.
Edible oil prices in the major retail markets across the country have declined by Rs 5-20 per kg after various measures, including an import duty cut, by the government, Food Secretary Sudhansu Pandey said on Friday. The official said that branded oil makers have also revised the rates for new stock. Domestic edible oil prices have soared in tandem with the global prices which shot up due to reduced availability of edible oils for food use following diversion for biofuel in Indonesia, Brazil and other countries.
The model or average price for a kg of onion was Rs 6 on Monday -- the lowest in this late kharif and rabi harvesting season, so far. While poorer quality kharif onions traded at Rs 3 a kg, the price of export quality was Rs 9 a kg.
At a press conference after a meeting of the party's senior leaders, K C Venugopal said the Congress will also launch a massive signature campaign in which it aims to collect two crore signatures from farmers and the poor people against farm bills.
Because of the reluctance to intervene structurally in the political economy of onion trade, the BJP is paying the price till today and might continue to do so in the forthcoming election to the Delhi assembly.
The decision will help farmers earn an additional income of Rs 62,635 crore
The India Pulses and Grains Association estimates production of kharif pulses at seven mt this year.
President Ram Nath Kovind on Monday said the country's farm production and procurement increased during 2020-21 crop year despite the pandemic and agricultural exports reached a record level of Rs 3 lakh crore during the same period. In his address to the joint sitting of both Houses of Parliament at the start of the Budget session, Kovind said the government is focusing on making the country self-sufficient in edible oils besides making special efforts to promote organic farming, natural farming and crop diversification. "My government is working continuously to empower the farmers and the rural economy of the country... I would like to give maximum credit to the small farmers of the country for this consistent success and strengthening of the agriculture sector," he said.
Bharat Biotech on Thursday said it plans to produce additional 200 million doses of COVID-19 vaccine 'Covaxin' at its subsidiary's Ankleshwar (Gujarat) based facility, taking the overall production volume of the vaccine to 1 billion (100 crore) dosages per annum.
'While intensification of fuel prices and broad-based domestic cost pass-through pressures is a downside risk, core inflation is expected to strengthen further as demand recovers to pre-Covid levels,' the ministry said on Friday.
Last week, the Union Cabinet decided to import 1.2 lakh tonnes of onions to improve the domestic supply and control prices, which touched Rs 100 per kg earlier this month.
This should augur well for the rabi crops as delayed withdrawal will leave enough moisture in the soil for early sowing.
India achieved record foodgrains production this year but the withdrawal of three agri-reform laws and spike in cooking oil prices cast a shadow on the country's resilient agriculture sector that is on course for better harvest in 2022 despite pandemic blues. While soaring production of foodgrains that also helped the government provide free additional rations for COVID-hit poor families for many months together came as a relief, the passing year will be remembered for the long drawn farmers' protest at Delhi borders against the three laws and subsequent repeal of the legislations. The Indian agriculture sector, which was among the few segments that remained robust amid the pandemic gales, is expected to register a growth rate of 3.5 per cent in the current financial year ending March 2022.
While bats are the ancestral hosts to many deadly viruses affecting humans such as Ebola, rabies, and the novel coronavirus, SARS-CoV-2, the flying mammals themselves tolerate these pathogens without ill effects
If a package is announced, it would be the third major initiative by the government to tackle the challenges thrown up by the rapid spread of coronavirus.
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.
The Reserve Bank of India (RBI) on Wednesday proposed to make interoperability mandatory for digital payments firms. It also allowed users to withdraw cash from e-wallets and fintech companies to process RTGS and NEFT transactions. The RBI expressed dissatisfaction over prepaid payment instruments' (PPIs') failure to migrate towards full-KYC (know your customer) PPIs, and therefore interoperability, even two years after guidelines were issued.
Those without Aadhaar can still avail of the scheme after producing proof of applying for Aadhaar
Union minister Subhas Sarkar courted a controversy on Wednesday with his remarks that Nobel laureate Rabindranath Tagore's mother did not cradle him in her arms when he was a child because of his "not so fair complexion"
Netizens from India were quick to react, with most terming it as Pakistan's "national dress", a jab at the country's support to terror outfits on its soil.
Food inflation is expected to cool off in the next two months from the current high of about 18 per cent on expectation of better Rabi (winter) crop, Prime Minister's economic panel member said.
'Neither farmers nor farm labourers will benefit from these jumla announcements of the finance minister'
Electoral politics is going to be an important part of farmer protests going forward.
Referring to visible indicators of green shoots, the finance minister said the forex reserve is at an all time high and the stock market is upbeat.
'We still don't know how viruses that we ingest are killed inside our bodies.'
500 million doses per annum from its two sites in Hyderabad and 200 million doses each from its Ankleshwar and Kolar facilities.
A likely western disturbance over north India during the weekend might cause heavy to very heavy showers in a few places, including New Delhi.
Sowing up 400%; prices may be low in 2014 as Maharashtra, MP and Bengal also likely to increase acreage 15-20%.
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