Attacking critics, he said a "clique" of people exploited farmers for long as they remained in shackles of rules regulating the sale of their produce and stated that this needed to change, which his government has done.
The Reserve Bank on Friday projected retail inflation to be in 5-5.2 per cent range during the first half of the next fiscal year, expecting further softening of vegetables prices in near term. Also, it has lowered the retail inflation forecast for the current January-March quarter of 2020-21 fiscal at 5.2 per cent. The Reserve Bank (RBI) has kept the key policy rate unchanged at 4 per cent, with an accommodative stance, so as to ensure that inflation remains well within the target, Governor Shaktikanta Das said while announcing the last monetary policy of 2020-21.
Food Minister Ram Vilas Paswan sought to shift the blame on states saying they are equally responsible for keeping the prices of essential commodities under control
The stimulus package is expected anytime this week and will be aimed at the urban and rural poor; disadvantaged sections of society; MSMEs and some of the worst-affected sectors.
The Centre had lowered its estimate of crop damage.
Das said that global economic activity has remained fragile and the surge in COVID-19 cases has subdued early signs of revival.
'There are some high-frequency indicators where uptick is visible and some where it is not'
Riding high on the hopes of a normal monsoon, the agriculture ministry aims to increase foodgrain production by 6.35 million tonnes to a record 298.3 million tonnes in the 2020-21 crop year. The foodgrain output in the 2019-20 crop year (July-June) is estimated at an all-time high 291.95 million tonnes, as per the second advance estimates released by the ministry in February.
The most serious recommendations to change the financial year came in the years preceded by deficient rainfall. The Jha committee was formed after droughts in 1979-80 and 1982-83, reports Rishika Pardikar/IndiaSpend.
The government on Monday ruled out the possibility of free food-grains distribution to migrants saying there is no panic situation and no complete national lockdown unlike last year.
Many banks are contemplating to set up additional counters for withdrawal to meet the rush
India is expected to harvest bumper crop this year based on estimates of higher food grains production in Kharif (summer sown) and hopes of better Rabi (winter) crop with enough water in reservoirs, Finance Minister P Chidambaram said.
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Vaccine manufacturer Serum Institute of India on Friday said Rabivax, the country's first Human Diploid Cell rabies vaccine launched by the company recently, would trigger the company's market share in this segment to about 30 per cent from the curre
Analysts said the demand recovery in two-wheeler and car segments was skewed towards the semi-urban and rural markets.
To help revive the economy battered by COVID-19, Finance Minister Nirmala Sitharaman on Monday announced a slew of measures, including Rs 1.1 lakh crore credit guarantee scheme for improving health infrastructure, and enhancing the limit under the ECLGS by 50 per cent to Rs 4.5 lakh crore for the MSME sector facing liquidity crunch. Sharing the details of stimulus package, the finance minister said this comprises eight relief measures and other eight measures to support the economic growth. She announced Rs 1.1 lakh crore loan guarantee scheme for COVID-affected sectors, including health sector, which includes guarantee cover for expansion or for new projects. Besides, she said, additional Rs 1.5 lakh crore limit enhancement done for Emergency Credit Line Guarantee Scheme (ECLGS) scheme.
The cumulative loss of salaried jobs since the pandemic is even larger at 12.6 million, reveals Mahesh Vyas.
The Naveen Patnaik-led party bagged 112 of the 146 assembly seats despite the Modi wave in the country.
From the dusty lanes of Mirati, life took the scholar politician to the imposing Rashtrapati Bhavan through a warren of powerful offices he held, but the village stuck, the bond only grew stronger.
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.
The possibility of harassment by cops and fear of the unknown have forced a large number of truck drivers to abandon vehicles at the transport centres and flee home. Transport of goods remains badly hit as confusion remains among various stakeholders and road transport becomes the victim of disconnect between policy makers and local authorities.
Deputy Superintendent of Police Ramaswamy Parthasarathy, who arrested Chidambaram in the INX Media case last year, has been conferred with the President's Police Medal for Distinguished Service.
Syed Firdaus Ashraf/Rediff.com lists 11 Modi flagship schemes that may have been gamechangers in the Lok Sabha election.
One lakh copies of the three agri laws were burnt at the Singhu border alone, said Paramjeet Singh of Samyukta Kisan Morcha.
'For the last two months, the menace of stray dogs has gone to scary proportions in Kerala' 'What will you do if you cannot walk on the road without fear?'
The government on Wednesday raised the minimum support price (MSP) of paddy marginally by Rs 72 per quintal to Rs 1,940 per quintal for the 2021-22 crop year, while the rates of pulses, oilseeds and cereals were hiked substantially. Among the commercial crops, the MSP of cotton was increased by Rs 211 per quintal to Rs 5,726 for medium staple variety, and by Rs 200 per quintal to Rs 6,025 for long-staple variety of cotton for the 2021-22 crop year (July-June). The decision taken by the Cabinet headed by Prime Minister Narendra Modi will help farmers take a call on which kharif (summer) crop to grow as sowing picks with the spread of the Southwest monsoon in the coming weeks.
The RBI expects non-food credit growth to pick up marginally to 15 per cent in 2013-14 from 14 per cent achieved in the previous fiscal and deposit mobilisation to be flat at 14 per cent.
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.
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.
Chana is majorly imported from Australia and Tanzania and it attracts an import duty of 60 per cent. A section of the traders is demanding a reduction in import duty to around 35-40 per cent to tide over any shortage of the commodity as the new crop will start hitting the market only around mid-February.
An Empowered Group of Ministers on drought headed by Agriculture Minister Sharad Pawar on Wednesday approved Rs 1,207-crore relief package to Maharashtra. "Rs 1,207 crore drought relief package has been approved for Maharashtra," Home Minister Sushilkumar Shinde, who is also a member of the EGoM, told PTI after the meeting of the minister.
In the last 15 days, the rates have gone through the roof and the key vegetable is being sold at Rs 80-100 per kg by local vegetable vendors depending on the quality and locality.
According to the Indian Council of Agricultural Research Director General Trilochan Mohapatra, the insects have attacked about 40,000 hectares of land.
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 study showed that 50 per cent of households have reduced the number of meals ever since the lockdown was imposed
Rajan had overturned the majority opinion of the members and chose to hold the rates at the last monetary policy review in October.
