BUSINESS
MC Interview | Sodhi wants to take up advisory roles in dairy industry after ending his tenure as MD of Amul
Under Sodhi’s watch, the cooperative started sourcing milk from states other than Gujarat, increased its total milk purchases manifold, strengthened the distribution and sales network and entered new product categories.
BUSINESS
Rural development department needs funds to support welfare schemes
Funds are needed to clear wage pendency in the rural job guarantee scheme and to catch up with missed targets in rural housing and road projects.
BUSINESS
Budget 2023| With inflation fears subsiding, the FMCG sector wishes for more money in the hands of consumers
Price hikes may have improved the topline of FMCG companies, but also led to consumer downtrading, specially in personal and home care categories
BUSINESS
India’s logistics sector is far from improvement despite a national policy, costs remain high, hurting export competitiveness
A Parliamentary Standing Committee has found that many of the suggestions the panel made last year to various ministries, on ways to lower logistics costs and augment infrastructure, have not been implemented
BUSINESS
HUL seeks to expand market presence with pair of acquisitions in health and wellness segment
In a presentation, the company management said the market for vitamins, minerals and supplements has revenue potential of Rs 30,000 crore a year in the next 4-5 years.
BUSINESS
Tata Consumer tries to poke a drinking straw into Bisleri as the FMCG seeks to slake India's thirst
It is not clear whether Bisleri Chairman Ramesh Chauhan will retain some stake. Reports say deal could be worth about Rs 7,000 crore. Succession planning seems to be the reason for Bisleri. TCPL stands to gain nearly 130 co-packers, and over 5,000 distributors.
BUSINESS
Fertiliser subsidy bill likely to more than double this fiscal
Officials say import bill will remain inflated, despite a significant jump in the domestic production of urea. Russia-Ukraine, export ban by China and higher demand from the US chief concerns. One analyst said the subsidy bill could exceed Rs 2 lakh crore.
BUSINESS
Railways aims for better fiscal health; parliament debates cut in concessions
The standing parliamentary committee requested that senior citizen concessions be brought back while scrutinising concessions to railway employees.
INDIA
In the centre-state ping-pong, workers suffer as NREGA slips through the cracks
With thousands of crores in unpaid wages and many other serious gaps in implementation, NREGA remains more on paper than in practice.
BUSINESS
From airlines and tyre-makers to auto-component manufacturers, industries feel the heat from a weak rupee
While the government has been at pains to point out that the Indian currency has appreciated against other major currencies like the euro and the Japanese yen, some industries are set to face headwinds with a major spike in input costs.
BUSINESS
Ethanol blending cheers sugar producers, already lifted by rising demand
Taking the cue from the government’s roadmap for ethanol blending with petrol, many sugar manufacturers have already lined up the significant expansion of the renewable fuel.
AUTOMOBILE
Why are fresh allegations of fraud surfacing against Amtek Auto after resolution process is complete?
A whistleblower has alleged frauds and diversion of Rs 12000 crore at Amtek Auto. They have sought an investigation into the alleged siphoning funds by ‘key managerial persons’ of Amtek Auto in criminal conspiracy with bank officers.
BUSINESS
Urea imports may fall in 2022-23, but fertiliser subsidy bill will be bigger
The government’s fertiliser subsidy bill is likely to expand significantly in the current fiscal year as well as in 2022-23, in line with a trend that has seen the actual outlays exceed budget estimates
ECONOMY
Explainer: How India is trying to reduce reliance on imported fertilisers
India’s fertiliser imports had been rising even before the Russia-Ukraine conflict due to pandemic-related disruptions. With low self-sufficiency, volatility in global fertiliser supplies will have a major impact on India.
BUSINESS
Sluggish bankruptcy resolution takes a heavy toll on creditors
Creditors lost at least three-fourths of their investments in 35 stressed companies whose insolvency cases were resolved in the December quarter of 2021. The realisation percentage in the last quarter of calendar 2021 has been the lowest yet
BUSINESS
India looks towards Canada, Jordan for fertilizers as Russia-Ukraine conflict derails imports
India depends heavily on imports for meeting its fertiliser needs; With low self-sufficiency, volatility in global fertiliser supplies is bound to have a significant impact on the country.
ECONOMY
No unemployment allowance, delayed payments, paucity of work: Parliamentary panel decries state of MGNREGS
Expressing concern over poor implementation of the government’s flagship rural employment scheme, the panel said it is high time MGNREGS was revamped, keeping in view changing times and new challenges in the wake of the Covid-19 pandemic.
BUSINESS
Union Budget 2022 | Farm sector hails generous MSP, fertiliser sops, vows of doubling income
While the Budget 2022 lined up steps that will increase the farmers’ income 'substantially', there was no clarity about the desired income level which would have proved that the incomes did actually double
BUSINESS
Budget 2021| Allocation for agriculture department flat at Rs 1,24,000 crore
Budget 2022 was being watched for allocations the government would make to the politically significant sector, subsidies and spending focus in view of the farm law rollback and forthcoming assembly elections
BUDGET
MNREGS allocation unchanged despite elevated work demand, rural housing yet to pick up pace
The programme has perennially been short of funds, with expenditure overwhelming the funds available. The pending liabilities in terms of overdue wages have been rising in the past few years
BUSINESS
Budget 2022 | Rural development ministry allocation increased by just 3.36% to Rs 135,944 crore
For MNREGS, the rural employment guarantee scheme, the budgetary allocation has remained equal to last fiscal’s at Rs 73,000 crore despite RE for FY22 coming in at nearly Rs 98,000 crore.
ECONOMY
Demand for work under MGNREGS remains elevated; rural housing target missed
The budgetary allocation for MGNREGS in FY22 increased to Rs 73,000 crore from Rs 61,500 crore in FY21 and further to Rs 98,000 crore (so far). Since the allocation has not even reached the Rs 1 lakh crore mark, it is unlikely that the outlay will be tripled in FY23, as sought by activists.
ECONOMY
Economic Survey 2022 | No space for farmer protests, farm sector reforms
The government had promised to double farmers’ income by 2022. However, it finds no mention in the survey. It exhorts farmers to focus more on allied activities, like animal husbandry and fishing, than on crop cultivation to boost income. While this is good advice, it is neither new nor path-breaking.
BUSINESS
Doubling farmers' income by 2022 a goal within reach?
There is no data after AY2018-19 on average income of farming households and the pandemic has probably worsened last-mile delivery of several schemes the Centre has over the years said it would augment income of farmers
