The government on Friday scrapped a minimum price threshold that it had set previously for exports of onion as it looked to pass on the benefit of international glut to Indian farmers. The government had previously fixed a $550 per tonne as the minimum export price (MEP), which essentially meant farmers could not sell their produce overseas at lower than this rate.
'The man who has been Gujarat's chief minister for 13 years has no understanding of the ills affecting the farmers and agriculture in India.'
Notwithstanding robust volume growth and a strong performance from Jaguar Land Rover (JLR), Tata Motors, the country's second-largest automobile (auto) manufacturer by market capitalisation, disappointed the Street with its January-March quarter (Q4) results for 2023-24 (FY24). While consolidated revenues saw a 13 per cent increase, lower-than-expected realisations in the Indian operations weighed down overall performance.
The fact that everyone but Agriculture Minister Radha Mohan Singh is speaking on the issue only gives credence to the specious fears of farmers that this government is out to get them. Aditi Phadnis reports
We do what the boss wants us to. And we do not mind putting body and soul on the line, notes Suveen Sinha.
However, the estimates could change in the coming months, as full impact of excess rainfall and floods on the standing soybean and urad crops in central and western India in late August and September has not yet been fully taken into account.
Gold prices tumbled by Rs 3,350 to Rs 72,300 per 10 grams in the local market in New Delhi on Tuesday amid subdued demand by jewellers after the government announced the customs duty cut on the yellow metal and silver to 6 per cent.
A barrier-free market -- coupled with removal of controls, licensing system, intermediaries and state-imposed levies on farm commodities -- will benefit both sellers and buyers.
'The SJM has requested the government to bring a change in the law which will ensure MSP as the floor price for all farmers below which nobody should buy anything from them.'
With fears of delayed monsoon doing the rounds, an economic think tank on Tuesday said lower agricultural production is unlikely to affect the industrial growth this fiscal.\n\n
Moody's Investors Service has warned that India, along with the Philippines, Thailand, and Vietnam are highly vulnerable to volatile food and energy prices in the Asia-Pacific region as the Russia-Ukraine conflict continues to disrupt supplies and raise the cost of agricultural products, especially cereals and vegetable oils, as well as fertilizers and other agricultural inputs. This is so because these countries have a higher weighting of energy and food prices in their consumer price index (CPI) baskets, Moody's said in its report released on Tuesday. The weighting of energy and food in overall Indian CPI stands at over 55 per cent.
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
Gujarat Life Sciences (P) Ltd is looking for trainees / executives interested in marketing and sales of microbial products.
India has agreed to allow import of pork and pork products from the US as a part of a bilateral trade deal which will facilitate export of Indian mangoes and pomegranate to the US. The development comes months after the two governments renewed the India US Trade Policy Forum (TPF), after which both nations agreed to iron out thorny issues that included market access issues pertaining to the agriculture sector.
Pirojsha Godrej, 43, patriarch Adi Godrej's son, is set to take over as chairman of the Godrej Industries Group from 2026 whol Nyrika Holkar, Smita Godrej Crishna's 42-year-old daughter, has emerged as the face of the Godrej Enterprises Group.
In a bid to boost agriculture infrastructure, the government on Monday announced a cess on certain items, including petrol, diesel, gold and some imported agricultural products. While proposing the Agriculture Infrastructure and Development Cess (AIDC), Finance Minister Nirmala Sitharaman also said that care has been taken not to put additional burden on consumers on most items. There is an immediate need to improve agricultural infrastructure so that we produce more, while also conserving and processing agricultural output efficiently, the minister said in her Budget Speech in Lok Sabha.
https://www.rediff.com/business/report/quality-control-orders-what-does-this-mean-for-domestic-industry/20240425.htm
The generation of quality jobs and skill development should be the focal point, cutting across ministries and departments, asserts Nivedita Mookerji.
The prime minister and his cabinet will be compelled to do what governments in other democracies must: Listen to criticism from citizens and tolerate it and even learn from it. In doing so, perhaps they can also get a laugh out of the material, as many of us so often do, notes Aakar Patel.
This would lead to a further upward revision in the gross domestic product estimate for the year to more than 9.5 per cent. The quick estimates released on May 31 had pegged the GDP growth for 2006-07 at 9.4 per cent.
It expects rainfall to be about 106 per cent of the long period average, aided by La Nia conditions anticipated to play a role in the second half of the monsoon season.
With the reality of coalition politics staring the BJP in its face, this was inevitable, points out Ramesh Menon.
Indian economy is expected to grow by 8.1 per cent in the current fiscal on the back of a turn-around in agriculture production and an anticipated good showing by the industry and service sectors, a leading economic think-tank said.
'It's a debatable topic, and we will submit our comments to the RBI by June 15.'
India's agricultural output declined during the year 2002-03 to 183 million tonne compared to 212 million tonne produced in previous year, a drop of 13.9 per cent, according to Centre for Monitoring Indian Economy.
5G ambulances will not just allow remote consultation, but would also be able to transit data and video to hospitals in real time, saving precious time for critical patients. 5G technology would also support the development of new educational applications, improve agriculture productivity, and aid search and rescue missions with high resolution cameras in disaster recovery zones.
US officials said the win will help lower trade barriers and open new markets.
A top Republican lawmaker has welcomed India signing a trade deal with Australia, and urged the Biden administration to enter into a similar arrangement with New Delhi that can advance Washington's strong economic agenda in the strategically vital Indo-Pacific region. "I'm pleased to see #Australia & #India sign a strong trade deal," Senate Foreign Relations Committee Ranking Member Jim Risch said in a tweet. "The US needs to do the same and advance a strong economic agenda in the #IndoPacific. "The Biden Admin's failure to lead hurts US growth and our partnership in the region," Risch said in another tweet.
We spoke on a wide range of subjects, particularly leveraging the power of technology to transform the lives of India's farmers, youngsters and entrepreneurs, the PM said.
Till now, the maximum Bharat Ratnas were awarded in 1999 when four recipients were given the coveted award.
India on Monday announced the results for the country's first critical mineral auction. Amid the tepid response from big players, the list of successful bidders included some lesser known names. A total of five companies secured bids for six critical mineral blocks of graphite, manganese, phosphorite, lithium, and rare earth elements with auction premiums ranging from 13.05 per cent to 400 per cent.
'We are confident that over the next few years the government will strike a fine balance between populist measures and growth, and manage coalition partners well.'
The government will come out with a policy on setting up of agriculture product outlets at railway stations within next two months, Minister of State for Railways R Velu said.
'The local support from our MP is nil. He never comes to see our farms.'
India and Russia on Tuesday set a target of $100 billion in annual trade volume by 2030 and vowed to develop a robust bilateral payment settlement mechanism using national currencies. The two sides also inked a total of nine agreements to further broadbase cooperation in a range of areas including in the economic domain following summit talks between Prime Minister Narendra Modi and Russian President Vladimir Putin.
The climate for 'doing business' remains forbidding, taxtortion is still rife, corruption at state and district levels has increased, oil prices remain extortive with high taxation, and the continued red tape has kept the enterprise system as stifled as before, points out Debashis Basu.
Researchers from the Indian Institute of Technology-Palakkad (IIT-Palakkad) have introduced a pioneering method of generating renewable energy from human urine.
"As I was working on agriculture, my family wanted me to take over the management of our plantations. But my aim was to master the art of developing new varieties, that is genetics and breeding. As the proverb has it, we reap what we sow. Consequently, sowing the right things is very important," M S Swaminathan had once said.
The Lok Sabha, chaired by Speaker Om Birla, has been working for more than its scheduled time and has sat till midnight on two occasions to complete its legislative business.
The heat wave is likely to impact parts of Jammu and Kashmir, Himachal Pradesh, Uttarakhand, Punjab, Haryana, Delhi, Rajasthan, Madhya Pradesh, Jharkhand, Odisha and Gangetic West Bengal, the Met office said.
