One of the politically sensitive issues on which the United Progressive Alliance government will have to decide soon is the subsidy increase on phosphatic fertilisers by up to Rs 1,000 crore (Rs 10 billion) to keep a check on domestic prices.
The eight key infrastructure sectors' growth rose by 6.3 per cent in May on healthy expansion in the production of coal, natural gas, and electricity, though the growth rate is lower than in April, according to official data released on Friday. The production of the eight sectors grew 6.7 per cent in April. The growth of these core sectors -- coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity -- was 5.2 per cent in May 2023.
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He drew the roadmap of India's economic reform, unshackled it from the licence raj and pulled it back from the brink when even its gold reserve was pledged.
Amid the political blame game over Bengal's potato ban, which led to shortages in Jharkhand and Odisha, Uttar Pradesh farmers are the unlikely winners.
The growth of eight key infrastructure sectors slowed to a 15-month low of 3.6 per cent in January, on account of poor performance of sectors like refinery products, fertiliser, steel and electricity, according to the official data released on Thursday. The growth of eight core sectors -- coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity -- was 4.9 per cent in December. It was 9.7 per cent in January 2023.
In their letter to Rajya Sabha Chairman Jagdeep Dhankhar, the Congress leaders said during a discussion on the functioning of the ministry of agriculture and farmers' welfare on August 2, "misleading and incorrect assertions" were made by the minister.
Finance Minister Nirmala Sitharaman has brought down the budgetary allocation for the fertiliser subsidy for FY21 to Rs 71,309 crore, from the RE of Rs 79,998 crore for FY20, while increasing food subsidy to FCI through "ways and means advance" to Rs 50,000 crore for FY21, from Rs 36,000 crore in RE for FY20, and under the National Food Security Act (NFSA) to Rs 77,982 crore, from Rs 75,000 crore.
Rs 35,000 crore investment to increase capacity by 75%.
With farm Acts out of the picture, the government may look at reforming the input side of the agriculture sector - regulations and rules that govern seeds, fertilisers and plant chemicals. Sources said such a blueprint, which is aimed at making the life of farmers easier, with quicker approvals but not compromising on quality, is in the works as part of the 100-day agenda of Modi 3.0. Also, ways to administer fertiliser subsidy more effectively and cutting down on leakages and diversions to build on the success of neem-coated urea are being thought of.
A factory in Kolkata turns scrap leather into nitrogenous fertiliser.
The Congress on Monday claimed that the Tata-Airbus C-295 aircraft facility inaugurated in Vadodara was earlier supposed to be set up in Nagpur and alleged that under Prime Minister Narendra Modi's instructions, the Centre and the Mahayuti dispensation have conspired to ensure the 'wholesale surrender' of Maharashtra's interests.
The growth of eight key infrastructure sectors rose to 5.2 per cent year-on-year in March due to improvement in the output of crude oil, cement and electricity, according to official data released on Tuesday. In 2023-24, the growth rate in the output of these eight sectors was 7.5 per cent, marginally down from 7.8 per cent recorded in the year-ago period.
Instead of working to reduce the subsidy bill, various political elements seem to be pushing for even higher subsidies.
'Retail investors, who had not seen such a massive correction in the SMID universe since COVID-19, are witnessing something like this for the first time. Panic profit booking may continue.'
Already, the government's resources are strained due to various fiscal stimulus and the Survey has separately noted that high growth environment creates scope for partial rollback of these stimuli.
Amidst optimism about the growth prospects of the agricultural sector and consequently the fertiliser industry, policy environment continues to remain fluid.
Fertiliser production dropped sharply by 11.5 per cent, crude oil by 5 per cent and natural gas by 0.9 per cent in October over the year-ago month
The Group of Ministers (GoM) on goods and services tax (GST) rate rationalisation, which convened in Goa on Wednesday, reviewed the GST rates for over 100 items, including textiles, handloom goods, agricultural products, fertilisers, and educational materials. However, no consensus was reached on any of the items, with further discussions scheduled for next month in Delhi.
Several Indian fertiliser companies are in talks with foreign firms to set up production units jointly, the government said.
Many bureaucrats in Sashtri Bhavan where the fertiliser ministry is housed are totally disenchanted and disgruntled over the unique behaviour of the union minister of fertilisers.
While conditions have improved over the last decade in western UP, there are still unfulfilled needs.
He did not announce any rollback on diesel price hike.
During the September quarter (Q2FY25), Hindustan Zinc's (HZL's) revenue was reported at Rs 8,300 crore (up 22 per cent year-on-year or Y-o-Y, and 2 per cent quarter-on-quarter or Q-o-Q), marginally above consensus. Operating profit stood at Rs 4,100 crore (up 31 per cent Y-o-Y and 5 per cent Q-o-Q), also a small beat. The operating profit margin was 50 per cent, up from 48.5 per cent in Q1FY25.
Fertiliser ministry officials on Monday briefed the new minister Ram Vilas Paswan about the pending decision on increasing subsidy on phosphatic fertilisers by upto Rs 1,000 crore (Rs 10 billion) to keep a check on domestic prices.
Savings for Indian refiners from purchasing Russian oil have decreased to a third of what they were in the years following Russia's invasion of Ukraine, which triggered global crises, sanctions, and discounted Russian oil seeking buyers. Despite this, savings from importing cheap Russian oil were significant enough to help Indian refiners tide over frozen petrol and diesel pump prices.
With the government on Thursday hiking retail prices of urea by Rs 50 to Rs 3,360 per tonne, West Bengal Chief Minister Mamata Banerjee said she has lost count of how many times the price has been raised and condemned it.
In a bid to encourage the fertiliser industry to increase its production volumes, the government has extended the system of actual freight reimbursement to all types of fertilisers. Currently, only urea enjoys this concession.
...to fund the revenue gap. Of the gross market borrowing of Rs 14.13 trillion estimated for FY25, Rs 7.5 trillion, or 53 per cent, is planned to be borrowed in the first half.
In his budget speech, the minister said the indiscriminate use of chemical fertilisers, herbicides, and pesticides, has led to a decline in overall soil fertility.
Despite volume growth in the export segment and strong demand in the domestic market, pricing uptick is eluding Indian agrochemical companies.
Coromandel Fertilisers Ltd fixed March 24 record date for interim dividend.
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.
'Given our turbulent neighbourhood, the prime minister is likely to emphasise on democratic dividend as the reason behind India's continuous prosperity.'
The court said the decision shall be communicated by the Union ministry of health and family welfare for considering whether any law, enactment, or guidelines are required to address issues related to posthumous reproduction or post-mortal reproduction.
'We know that there is a cross-border fertilisation of extremism and terrorism. Afghanistan cannot get control over its territory and defeat the Taliban if they can go across the border into Pakistan as a safe haven,' Clinton told the Azadi Radio in an interview. Similarly, Pakistan cannot root out the people that threaten them and their government if they can seek refuge across the border in Afghanistan, she said according to a transcript released by the State Department.
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