Making it clear that he was not opposed to the National Food Security Bill, Union Agriculture Minister Sharad Pawar on Friday said he would prefer it to be approved by Parliament after a debate.
The much-touted Food Security Bill was taken up in Rajya Sabha, with opposition terming it as a "gimmick" with an eye on elections and accusing government of violating constitutional norms by issuing an ordinance when Parliament session was less than a month away.
The Reserve Bank on Wednesday projected inflation to come down below the upper threshold level of 6 per cent by March quarter of the current fiscal. RBI Governor Shaktikanta Das said the central bank will keep 'Arjuna's eye' (focus) on the evolving inflation dynamics and will remain 'nimble and flexible' to deal with the price situation. Global commodity prices, including crude oil, have undergone some downward correction, but uncertainty continues to surround the near-term outlook in view of the prolonging geo-political hostilities. Moreover, the resurgence in domestic services sector activity could also lead to price increases, especially as firms pass on input costs.
'If it doesn't happen, we may be in for a difficult time.' 'Our biggest problem is our population and the fact we are a very social people.' 'However, I would say two months is more than enough time for things to settle down.'
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.
India's consumer price index (CPI)-based inflation could ease in the coming months thanks to the arrival of kharif crops, lower international commodity prices, and a pass through of lower input costs to consumers, the finance ministry said in its Monthly Economic Review (MER) for October, which was released on Thursday. The MER, however, warned that the global macroeconomic situation remained precarious and a recession in many advanced economies would impact India's exports. "Easing international commodity prices and new Kharif arrival are set to dampen inflationary pressures in the coming months.
Nationalist Congress Party leader Ajit Pawar was given the finance and planning portfolio on Friday, nearly two weeks after he broke away from the original party and took oath as Maharashtra's deputy chief minister.
Although demonetisation and improper implementation of GST along with falling prices are being blamed for much of the distress in rural India for some time, experts believe those may not be the only reason.
While the motives of the Bill are of course laudable, there is every likelihood that the consequences of its passage will be dire.
Terming the Bill as a 'non political bipartisan issue,' he hoped to have all political parties on board as the Bill would benefit over 75 per cent of rural households and 50 per cent of urban households in the country.
Benchmark 10-year bond yields hit a 13-month peak as bond traders priced in more aggressive monetary easing next year.
According to the state government, 60,000 tourists have so far been evacuated from the hill state.
Terming the ordinance promulgated by the Union cabinet to implement the Food Security Bill as a "cruel joke" on democracy, Bharatiya Janat Party President Rajnath Singh said that his party would not oppose the passage of the bill in Parliament but seek amendments to it.
Inflation in pulses, vegetables and cereals was higher in Jan.
Prime Minister Manmohan Singh and Congress President Sonia Gandhi on Friday discussed the strategy to be adopted in the monsoon session of the Parliament on issues such as Telangana and proposed amendments in the Right to Information Act.
The United Progressive Alliance government's confidence about getting legislative business done in the monsoon session of Parliament, beginning August 5, might be misplaced.
The RBI on Friday retained inflation forecast for FY23 at 6.7 per cent amid uncertain price trajectory on "geopolitical shocks" and on hope that inflationary pressures would ease with pick-up in kharif sowing and supply chain improvements. In its previous monetary policy review in June, it had projected retail inflation for 2022-23 at 6.7 per cent, higher from 5.7 per cent forecast in April. The six-member Monetary Policy Committee (MPC) unanimously decided to raise the benchmark repo rate by a steep 50 basis points to 5.40 per cent with immediate effect to tame inflation while supporting growth.
Incessant showers lashed Mumbai and its neighbouring areas on Wednesday morning, leading to flooding in many low-lying areas and traffic snarls on roads.
The building, which housed godowns on the ground and first floors and four families on the top floor, collapsed at 1.45 pm on Saturday at Wardhaman Compound in Valpada of Mankoli area.
Actress Irra Mor generously offers a tonne of tips on looking good.
Irrigation woes have contributed to the problem of stubble burning in the state, reports Sarthak Choudhury.
Prime Minister Narendra Modi on Monday chaired a high-level meeting to review preparedness for the hot weather condition in the upcoming summer season and called for preparing separate awareness material for different stakeholders like common citizens, medical professionals, local body authorities and disaster response teams.
Incessant showers lashed Mumbai and its neighbouring areas on Wednesday morning, leading to flooding in many low-lying areas and traffic snarls on roads, officials said.
Dubbing the government's decision to bring an ordinance on food security as an "election gimmick", the Bharatiya Janata Party on Wednesday accused the Congress of running away from a debate on the crucial issue in Parliament.
As the kharif season is setting in, India is scrambling to source fertilisers from the international market. It is set to sign long-term contracts - especially with Morocco and Latin American countries - to ensure steady flow of supplies. "We have to source fertilisers wherever it is available because crops have to be secured.
It may be a little early to cheer the recovery in the fast-moving consumer goods (FMCG) space as a deceleration in discretionary demand, after the festival season, may offset fragile rural recovery, analysts have cautioned. "The overall demand environment for staples remains muted, while discretionary demand trends have seen some deceleration after the festival season. "We believe margins in staples have bottomed out, but we expect only a gradual uptick with the ongoing softening in raw material prices.
India must be prepared to deal with climate disasters, geopolitical confrontations, and social strife linked to global events, asserts Jayant Sinha, chairman of Parliament's Standing Committee on Finance.
The Reserve Bank of India kept interest rates on hold at 7.50 per cent.
Lamenting that lot of time has been wasted in the last two to three Parliament sessions, Prime Minister Manmohan Singh on Saturday asked the opposition to cooperate in the passage of the legislative business including the "most important" ordinance on Food security bill.
The Food Security Bill, which could not be taken up despite being listed in the Lok Sabha'a agenda since Monday, will not be part of business on Saturday.
The limited availability of flexible (flex)-fuel vehicles in the Indian market and the slow rollout of ethanol-blended petrol by oil-marketing companies (OMCs) remain major obstacles to achieving widespread use of biofuels in the transportation sector in India. Recently, two Union ministers have emphasised India's biofuel potential, arguing that it has the capacity and potential to lead a transition towards widespread biofuel adoption. Road Transport Minister Nitin Gadkari signalled that this transition is well underway and urged car manufacturers to quickly adapt and introduce new biofuel-run vehicles, lest the government resort to taxing diesel vehicles.
The Congress is planning a high-pitch media blitzkrieg in the run up to the assembly and general elections on the twin agenda of governance and development as opposed to the Bharatiya Janata Party's decision to push for Hindutva.
Nine persons were still feared trapped under the debris of the structure which collapsed at 1.45 pm on Saturday at Wardhaman Compound in Valpada area, they said, adding that search and rescue operations were on.
Monsoon in August was almost 24 per cent below normal, which was the sixth driest August since 1901. It came on the back of a 7-per cent monsoon shortfall in July.
'I was put in an anda cell. No window, light or air. Only grills.' 'During the monsoon, water would seep. There were rats running around all the time.' 'We were forced to sleep under bright lights all the time. Those bright lights are never switched off.'
'The buildings all around had caved in or were damaged. The trees were all uprooted. Things were very scary.'
These yummy recipes can satisfy your cravings between meals.
Indian equity markets had a good run in the first half of calendar year 2023 (CY23), with the S&P BSE Sensex and the National Stock Exchange Nifty50 hitting fresh 52-week highs. While the Sensex scaled up to a peak 64,718, the Nifty50 hit Mt 19,189. As the markets now prepare to enter the second half (H2) of CY23, all eyes are on global central banks, especially the US Federal Reserve, as to when they will pause and pivot as regards their interest-rate cycle.
The government's move to issue an ordinance to implement the Food Security Bill saw major opposition parties stepping up their attack on the United Progressive Alliance accusing it of bypassing Parliament and acting in a hurry with an eye on polls.
This is not a train for the regular commuter, evident from the number of large sized bags in the overhead bin, observes IAF Veteran Air Commodore Nitin Sathe.
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