BUSINESS
Govt should provide more than 100 days of MGNREGA work to combat rural stress, says former agriculture secretary
T Nanda Kumar argues that the government should go beyond the minimum number of days set out in the statute, and suggests that it can also increase disbursal under PDS, especially in pockets where the need is particularly felt.
BUSINESS
Cheers, Not Tears: Centre to release onions in the retail market in 100+ cities to cool prices
The centre will be releasing one lakh tonnes of onions from its buffer stock in retail markets through the month of November to keep a lid on prices of this kitchen essential in the festive season.
BUSINESS
Will find a solution around domestic tax to equate with EU's CBAM: Piyush Goyal
Stating that the Europeans have 'shot themselves in the foot with CBAM', he said, "They may soon realise that and drop CBAM as this is ill-conceived and does not address entire issue correctly and fairly"
BUSINESS
Standards should not act as non-tariff barriers, says Commerce Secretary
"There is North-South divide in global trade and standards have started acting as non-tariff barriers," Commerce Secretary Sunil Barthwal added.
BUSINESS
Prices of onions in Azadpur mandi fall on MEP, fresh arrivals, govt disposal
However, retail onion prices in the national capital remained elevated at Rs 78 per kg, data from the Department of Consumer Affairs showed on November 1, up from around Rs 40 per kg a fortnight ago.
INDIA
India to see a warmer November on account of strengthening El Nino
The conditions are aligned with what happens typically in an El Nino year; weather pattern expected to strengthen and be prolonged, but next monsoon unlikely to be affected.
ASSEMBLY-ELECTIONS
Loan waivers to cash transfers, BJP & Cong dangle agri sops as MP heads into elections
Over 75 percent of the state’s farmers are marginal farmers with less than two hectares of land, and about 15 percent are small farmers with less than four hectares. With 72.4 percent of the state’s population involved in farming, parties are going all out to dole out sops
INDIA
Govt expects stable pulse prices on the back of fresh arrivals, comfortable stocks
The government has taken steps to prevent hoarding and ensure the continuous release of tur and urad in sufficient quantities in the market by enforcing stock-holding limits till the end of the calendar year.
BUSINESS
Lentil imports from Canada steady, no hiccups in trade between 2 nations: Consumer Affairs Secy
His comments came a day after media reports had speculated that amid the ongoing India-Canada diplomatic spat, importers had been asked by the Indian government to suspend importing pulses
BUSINESS
Govt to boost onion sales of retail markets to rein in prices during festive season
The stocks are now to strengthen further, with the government deciding to build up their buffer to 7 lakh tonnes as it aims to keep onion prices under control.
BUSINESS
Farm issues take centre stage as Chhattisgarh goes to poll
The Bhupesh Baghel government in Chhattisgarh is betting big on farmers and has already promised to hike the paddy purchase price to Rs 3,600 per quintal apart from promising to waive farm loans if re-elected. The Centre’s MSP for paddy this season is Rs 2,183 per quintal.
BUSINESS
Basmati MEP may be down to $850 a tonne in 2 weeks as local supply eases
The Centre had on August 25 mandated that basmati rice contracts only with a value of $1200 per tonne or above could be registered for exports till October 15. However, the order was extended by the government till ‘further notice’.
POLICY
Centre keeping a tab on rising onion prices but unlikely to intervene
The government does not expect prices to cross Rs 50 a kg even though the kharif crop has been delayed and output is likely to be lower
INDIA
Essential prices to remain stable this festive season, assures Food Secy
While the export ban on rice, wheat and sugar along with stockpiling curbs on them have been criticised by the industry, the food secretary defended the move and said that it was necessary for the welfare of 140 crore consumers of the country
BUSINESS
Onion prices in wholesale markets of Maharashtra increase 30% within a week
Kharif produce is likely to be lower by 7 percent and come in with a delay of 15-20 days
BUSINESS
Polls, festivals may boost rural demand but premium segment to keep leading
The outlook is bullish for overall festive demand and a significant recovery in rural consumption, encouraged by easing inflation and hopes of doles ahead of the elections
POLICY
Govt awaits first advanced crop estimates to decide on sugar allocation for exports
An erratic monsoon and deficient rain in key cane growing states have put any export plans on hold till the government has a clear idea about how the crop output is looking.
ECONOMY
Food production for 2022-23 estimated at record 329 million tonnes
The total production however, fell by almost 1 million tonne compared to the third advanced estimates put out by the agriculture ministry in May this year
BUSINESS
Government allows export of non-basmati rice to Nepal, 6 other countries
The government had on July 20 prohibited export of non-basmati white rice, as food prices galloped in the country
BUSINESS
Govt extends restrictions on sugar exports beyond October
The latest extension of restriction is, however, not applicable to sugar being exported to the EU and the US, the notice further stated.
BUSINESS
India, Gulf Cooperation Council free trade talks may start within a month
It was agreed during Saudi Arabia Crown Prince Mohammed bin Salman’s discussions with Prime Minister Narendra Modi in September, 2023, to expedite the negotiations.
BUSINESS
India only keeping close watch, monitoring source of laptop imports
The central government will put in place an import management system before October 30, which will be an end-to-end online system to ensure that the process of issuing licences for the import of laptops and related items is streamlined.
BUSINESS
India eyes Brazil's ethanol technology to lower crude oil imports, says commerce secy
India has been accelerating efforts to achieve 20 percent ethanol blending with petrol by 2025 in a bid to reduce reliance on crude oil imports. India is looking to benefit by taking a leaf out of the techniques used by the Latin American nation for ethanol blending
BUSINESS
Trade may take a hit if Israel-Hamas war widens, says commerce secretary
Trade between India and Israel was estimated at $12 billion in FY23. While India's exports stood at $8.4 billion, imports from Israel amounted to $2.3 billion
