Reliance Industries has resolved almost all issues with fertiliser firms, who are first in line to receive natural gas supplies from the Mukesh Ambani-run company's prolific KG-D6 fields, and is likely to sign gas supply agreements this month.
Reliance Industries has served a notice for suspension of gas supplies to four fertiliser plants in Uttar Pradesh from Thursday unless they enhance their financial guarantees to cover for state sales tax.
Indian fertiliser companies are planning to invest around $5 billion (Rs 21,000 crore -- Rs 210 billion) in overseas joint ventures over the next three years. These companies are in negotiations for 19 such ventures, said government officials. These joint ventures are aimed at sourcing nitrogenous, phosphatic fertilisers and other raw materials.
According to officials in the know, the government might cut the fertiliser subsidy in the next financial year. The international spot and contract prices of di-ammonium phosphate and muriate of potash (MOP) have come down in recent months.
India is not "rethinking" supporting investments from China, said Commerce and Industry Minister Piyush Goyal on Tuesday, referring to a proposal made in the Economic Survey 2024. The survey by India's chief economic advisor last week said India had two "choices" to benefit from the so-called China plus one strategy, either by integrating into that country's supply chain or by promoting foreign direct investment (FDI). "Chief economic advisor's report speaks about new ideas and gives out their own thinking. It is not at all binding on the government and there is no rethinking to support Chinese investments in the country," Goyal told reporters in Delhi.
The growth of eight key infrastructure sectors slowed to a 14-month low of 3.8 per cent in December 2023, on account of poor performance of sectors like crude oil, electricity, steel and cement, according to the official data released on Wednesday. The core sector (coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity) growth in November was 7.9 per cent. It was 8.3 per cent in December 2022.
A number of persons fainted after experiencing 'burning sensation' in their throat and chest. Many people who were asleep woke up in panic and scurried out of their homes and alerted neighbours and all of them soon reached the main roads unsure of what to do.
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.
In order to reduce government litigations, the Union Finance Minister Nirmala Sitharaman on Saturday said the GST Council has fixed a monetary limit for filing appeals by the tax department before the various appellate authorities. It has recommended a monetary limit of Rs 20 lakh for GST Appellate Tribunal, Rs 1 crore for the High Court and Rs 2 crore for the Supreme Court for filing of appeals by the department before these legal forums, she said after the 53rd GST Council meeting held in New Delhi.
The Centre subsidises the cost of fertilisers as there is a huge gap between selling price and production cost. After receiving Rs 31.83 crore (Rs 318.3 million) as dividend from National Fertilizers Ltd, Chemicals and Fertiliser Minister Ram Vilas Paswan said the fertiliser subsidies would be only in cash, and assured manufacturers that there would not be any problems for them.
Ahead of Modi-Putin talks, the US called upon India to make it clear to Russia that any resolution of the Ukraine conflict must respect the United Nations charter and Ukraine's territorial integrity and sovereignty.
The production growth of eight key infrastructure sectors slowed to a six-month low of 7.8 per cent in November due to a decline in the output of crude oil and cement sectors. The growth rate in the production of coal, fertiliser, steel, and electricity also decreased during November this year. According to the data released by the government on Friday, the growth during the month under review, however, is higher than the 5.7 per cent recorded a year ago.
The Airport Authority of India, Prasar Bharati, Food Corporation of India and fertiliser and pharmaceutical PSUs have seen a significant increase in budgetary support this year. However, the railways and Delhi Metro, the lifeline of the capital, got less due to improved operational strengths. The Plan investment figures for public enterprises indicate not a single rupee has been earmarked for any PSU under the ministries of petroleum and natural gas, mines, coal etc.
'If there is a push towards a Marxist oriented government it will be dangerous.' 'We have seen this in Nepal and Myanmar and it will be a concern for India if it is surrounded by countries with such political dispensations.'
Finance Minister Jaswant Singh is expected to take a fresh look on the demand for a rollback of fertiliser and diesel price hike
Exports of 19 major commodities, including petroleum products, coal and marine items, saw growth in terms of volume during April 2023-February 2024, even as they witnessed contraction in value terms during the same period. Government officials said the rise in export volume despite a decline in value implies that these commodities show a stronger market demand.
At a time when climate change poses significant challenges and the need for sustainable and efficient farming practices has never been more critical, unmanned aerial vehicles (UAVs) allow farmers to gain a bird's-eye view of their crops from ground level. Drones have become a new force in precision agriculture, helping increase productivity while prioritising sustainability and resilience. Fertiliser major IFFCO is exploring this very transformative power of technology in agriculture.
While turning his focus to Uttar Pradesh once again after a long gap, Congress general Secretary Rahul Gandhi on Wednesday detected supply of fake fertiliser in a village of Bundelkhand region of Uttar Pradesh.
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 growth of eight key infrastructure sectors slowed down to a 4-month low of 8.1 per cent in September 2023 against 8.3 per cent a year ago, according to the official data released on Tuesday. The growth rate in the output of refinery products, fertiliser, cement and electricity during the month under review has decelerated, while it was negative in the case of crude oil. The previous low was in May, when the growth rate of these sectors stood at 5.2 per cent.
Prime Minister Narendra Modi on Tuesday told Russian President Vladimir Putin that a solution to the Ukraine conflict is not possible on the battlefield and peace efforts do not succeed in the midst of bombs and bullets even as he flagged concerns over a missile strike on a children's hospital in Kyiv.
Overall market reaction to the Budget was neutral. Investors absorbed the changes to the tax rates (positive for salaried class) and capital gains taxes (CGTs, negative due to the removal of indexation and increases. Other proposals largely pertain to supporting rural development, buybacks taxed as dividends, Custom duty changes that impact multiple sectors, higher outlays for clean energy, etc. There's some moderation in the growth of capex outlay across defence, fer
Mansukh Mandaviya replaced Anurag Thakur in Prime Minister Narendra Modi's new cabinet.
Increased production of pulses, oilseeds, and cereals will help boost domestic supplies and contribute to keeping inflation low in the coming months.
The output of eight key infrastructure sectors jumped by 12.1 per cent in October 2023 against 0.7 per cent expansion in the year-ago period on account of a sharp uptick in production of coal, steel, cement and electricity, according to the official data released on Thursday. These numbers assume significance as the eight core sectors -- coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity -- contribute 40.27 per cent to the Index of Industrial Production (IIP). Growth was primarily driven by a low base effect and double-digit growth in four sectors -- coal, steel, cement and electricity.
The Department of Fertilizers (DoF) plans to bring in all policies, including the New Investment Policy meant to overhaul urea production, under one umbrella - Nutrient-Based Subsidy (NBS) policy.
The strong message from the prime minister is of continuity of policies he considers right with strong emphasis on execution, points out T N C Rajagopalan.
The Centre is considering a proposal on increasing coverage under the Ayushman Bharat scheme to Rs 10 lakh from the current Rs 5 lakh.
Though the extended tenure of incumbent president JP Nadda ends on June 30, a recent amendment in the BJP's constitution has empowered its apex body, the Parliamentary Board, to take a call related to a president, including his term, in "emergency" situations.
An increase in the farmer income support scheme PM Kisan Nidhi, the introduction of a 'robot tax' to fund reskilling of people who lose their jobs to artificial intelligence (AI), and a reduced income-tax (I-T) to bring relief to the middle classes - these are some of the items in the Budget wish list submitted by Sangh Parivar affiliates to Finance Minister (FM) Nirmala Sitharaman. Representatives of the affiliates of the Rashtriya Swayamsevak Sangh (RSS), such as the farmer organisation Bharatiya Kisan Sangh (BKS); trade union Bharatiya Mazdoor Sangh (BMS); Laghu Udyog Bharati, which works for micro and small industries; and Swadeshi Jagran Manch (SJM), which works on economic and policy issues, met the FM and other officials over the last couple of weeks as part of the pre-Budget consultations.
The government is looking at steps to cut subsidy on fertiliser and oil sale with an aim to cutting non-plan expenditure and contain fiscal deficit.
In a pre-Budget memorandum, the ministry has submitted to the finance ministry that the industry may not accept bonds this fiscal. Nevertheless, the ministry's latest position seems to be in sync with the demand of the fertiliser industry that has persistently maintained that the securities are mostly trading in discount, affecting the balance sheet of companies.
The prices of natural gas for power and fertiliser units are likely to be raised by 12.5 per cent to Rs 3,600 per thousand cubic metres in July, according to oil secretary M.S.Srinivasan.
Authorities in cricket-crazy Bangladesh on Thursday asked fertiliser factories to halt production in a bid to divert gas supply to power plants and ensure an uninterrupted electricity supply ahead of the Twenty20 World Cup.
Countrywide raids are being conducted in connection with a money laundering case linked to a fertiliser scam.
Few finance ministers announce any taxation measure that could upset the stock market. Ms Sitharaman decided to take that risk, observes A K Bhattacharya.
The remarkable event was made possible by Dr Jisha Varghese and her team at Renai Centre for Fertility and Reproductive Health, who successfully assisted in the complex fertility preservation treatment.
MS had written that seeds of the green revolution were first sown in the fields of CRRI through the indica-japonica rice crosses, and decided that the plant type should be tailored to be functionally responsive to external application of fertilisers.
The supplementary demands for grants include a gross additional spending of over Rs 2 lakh crore, which would be matched by savings of over Rs 1.21 lakh crore.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances