SUBSIDISED PRODUCT
Onion prices likely to cool down further with arrival of new kharif crop: Govt official
Onion prices in India are anticipated to decrease further due to the arrival of the new kharif crop. The government has been selling onions from its buffer stock at subsidized rates to combat recent price increases. Over 4,850 tonnes of onions have been transported via railway to major cities, including Delhi, to enhance supply and stabilize prices.
India shows all the signs of a failed middle-income country ¡ª first face them to fix things
India's economic engine is sputtering. Income growth for most Indians has stalled, and many young people are unemployed. The informal sector dominates, and productivity remains low. While the stock market thrives, it's disconnected from the reality of stagnant wages and struggling businesses. The government, focused on subsidies, struggles to invest in growth. These are warning signs of a middle-income trap.
Govt in talks to sell Bharat brand food through Reliance Retail outlets
Offering Bharat atta, rice and pulses through Reliance¡¯s 2,700-plus stores and other retailers is expected to help take subsidised food products to more consumers.
Farmers can optimise crop production by combining bio & chemical fertilisers: Sanjiv Kanwar, Yara South Asia
By integrating both bio and chemical fertilisers, farmers can optimise crop production and contribute to a holistic system for the farmers, says Sanjiv Kanwar, Managing Director, Yara South Asia.
PM E-Drive scheme to have phased manufacturing plan to push EV parts production
The Prime Minister's E-DRIVE scheme will support local manufacturing of electric vehicle components through a phased manufacturing programme. Companies sourcing components locally will receive financial support without a domestic value addition mandate. The scheme replaces the FAME initiative and includes biannual inspections to prevent subsidy misuse.
What are India's antitrust findings against Amazon, Flipkart?
Indian antitrust investigations have revealed that Amazon and Flipkart violated competition laws by favoring certain sellers, prioritizing specific listings, and offering steep discounts. These practices have negatively impacted other companies. The Competition Commission of India (CCI) detailed these findings in two reports reviewed by Reuters.
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Not all easy riding on EV subsidies
Nitin Gadkari suggests that subsidies for EV makers are no longer necessary as production costs have declined and consumer confidence has increased. While Germany and France have stopped production subsidies, they continue with purchase credits. India may need to revisit its EV subsidies considering global factors.
Poultry industry demands maize imports at zero duty under OGL
India's poultry industry faces challenges with record-high maize prices due to ethanol production. Industry seeks zero duty imports and concessional rice supply. Import through state agencies delays and costly. Maize shortage impacting market. Poultry companies experiencing difficulty meeting demand.
¡®It is beyond belief we¡¯re still subsidising the cause of the climate crisis ¡ª we need greater subsidies for renewables over fossil fuels now¡¯
"I think the CBAM, to the extent that it does result in significant revenue from tariffs, should recycle some of those funds in lump sum forms to help countries clean up their production processes and adapt to climate change," says Cameron Hepburn, Battcock Professor of Environmental Economics at the Smith School of Enterprise and the Environment, Oxford University.
India, one of the largest importers of urea, plans to be self-sufficient by 2025. Is it feasible?
A closer look at India¡¯s strategy to end urea imports by 2025 shows gaps that need to be filled before shutting the import tap.
Volvo shifting EV production to Belgium to avoid China tariffs
Volvo, which is majority-owned by China's Geely, was considering halting sales of Chinese-built EVs bound for Europe if tariffs were introduced, the newspaper said, citing company insiders. However, the report added that shifting production of Volvo's EX30 and EX90 models from China to Belgium is expected to negate the need for the company to do so and that the company insisted suspending sales of EVs made in China was no longer being considered.
¡®We are seeing a global blue revolution in food, transport and energy now ¡ª booming coastal real estate is a true paradox of climate change¡¯
Martin Smith, the George M. Woodwell Distinguished Professor of Environmental Economics at Duke University, discusses ocean economics with Srijana Mitra Das.
IMF revises China's GDP to 5% this year; growth may decelerate to 3.3 per cent by 2029, says Gita Gopinath
The 5 per cent growth revision by the International Monetary Fund (IMF) is in line with the target set by the Chinese government for the world's second-largest economy which is grappling with a slowdown triggered by the crippling property sector crisis and industrial overcapacity.
How China pulled so far ahead on industrial policy
The problem for the West, though, is that China's industrial dominance is underpinned by decades of experience using the power of a one-party state to pull all the levers of government and banking, while encouraging frenetic competition among private companies.
No proposal to resume sale of subsidised rice for ethanol production: Food secretary
Government remains firm on not resuming subsidised rice sale for ethanol. Chopra encourages maize ethanol production and highlights the impact on distillery investments. Increased sugarcane FRP aims to boost cultivation for the upcoming season.
No proposal to resume sale of subsidised rice for ethanol production: Food Secy
The rice sale for ethanol makers was discontinued for various reasons, including apprehensions about domestic output and high retail prices, and economic unviability, he said. On the impact on investments on grain-based distilleries, Chopra said, "This is not a policy which is cast in stone. This policy will be renewed... Maize is being encouraged for ethanol production."
Power demand to grow 8-9% in India, capacity will grow, but cost will fall from 2030: Praveer Sinha, Tata Power
Praveer Sinha discusses challenges in the power sector, emphasizing the upcoming reduction in power costs by 2027-2030. He underscores the crucial role of battery storage in the transition to clean energy for reliable 24x7 power availability. Sinha says energy transition is a big thing because it is the need of the hour with concerns about climate change and sustainability.
Centre announces new scheme to subsidise electric two and three wheelers
The centre on Wednesday announced a new scheme to promote sale of electric two and three wheelers. According to Heavy Industries Minister Mahendra Nath Pandey, Rs 500 crore is being allocated for the Electric Mobility Promotion Scheme (EMPS), 2024. This scheme is valid for four months from April 1 onwards.
'Centre plans to procure five lakh tonnes of onions this year for buffer stock'
The government's plan to create buffer stock comes amid an estimated fall in onion output in 2023-24. "Production of onion in 2023-24 is expected to be around 254.73 lakh tonnes compared to around 302.08 lakh tonnes last year due to a decrease of 34.31 lakh tonnes in Maharashtra, 9.95 lakh tonnes in Karnataka, 3.54 lakh tonnes in Andhra Pradesh and 3.12 lakh tonnes in Rajasthan," the agriculture ministry said in a statement on Thursday.
Onion production to decline in 2023-24: First Advance Estimate
The production of the politically sensitive kitchen staple, onions in the country during the year 2023-24 (July-June)is expected to drop to around 25. 473 million tonnes compared to around 30.208 million tonnes last year due to a lower yield in key producing states of Maharashtra, Karnataka, Andhra Pradesh and Rajasthan, according to First Advance Estimate for the year released by the agriculture ministry on Thursday.
Tata, Mahindra, and Ola eye double benefit of Auto PLI and FAME with early approvals
Tata Motors, Mahindra, and Ola Electric are set to benefit from the government's PLI program and FAME-II scheme. These companies have received DVA certificates and can claim PLI sops for eligible sales of certain vehicle models until March 2024.
Govt plans to feed poll campaign with its Bharat staples
The government is promoting its Bharat staples brand by selling atta, rice, and pulses at subsidised rates. These products are available on ecommerce platforms like ONDC, ensuring accessibility and affordability for consumers. The three agencies - Kendriya Bhandar, National Agricultural Cooperative Marketing Federation of India (NAFED) and National Cooperative Consumers' Federation of India (NCCF) - through which the Bharat products are sold have been asked to sell 300,000-400,000 metric tonnes of rice and atta every month.
What is Bharat rice? Check price list and where to buy
Bharat rice: The government plans to introduce 'Bharat rice' on Tuesday at a subsidized rate of Rs 29 per kg, aiming to alleviate the impact of a 15% increase in retail rice prices over the past year. The subsidized rice will be sold in 5 kg and 10 kg packs, with Food Minister Piyush Goyal launching the product in the national capital.
Govt to launch Bharat rice at Rs 29/kg on Tuesday to provide relief to consumers
Food Minister Piyush Goyal is scheduled to launch Bharat rice at Kartavya path in the national capital, an official release said. The Food Corporation of India (FCI) will provide 5 lakh tonne of rice to two cooperatives the National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) and National Cooperative Consumers' Federation of India (NCCF) as well as retail chain Kendriya Bhandar in the first phase. These agencies will further pack the rice in 5 kg and 10 kg and retail through their outlets under the "Bharat" brand. The rice will also be sold through e-commerce platforms.
Electricity use in agriculture sector jumps to 37.1 per cent since 2009-10
Both direct (electricity and fuel) and indirect (nitrogenous and phosphorus fertilisers, and pesticides) energy use in Indian agriculture have increased over the years. Indirect use of energy in the form of fertilisers contributed 68.4 per cent in 2009-10 but reduced to 60.61 per cent in 2019-20. Electricity consumption in agriculture is increasing, driven by higher irrigation demand for new crop varieties and subsidised electricity provided to the sector.
Bharat brand of products: Franchise route for govt retail stores on the cards
Last month the government opened its first two stores at Delhi's Rajiv Chowk metro station, to tap into the high footfall it receives. These are owned by the National Cooperative Consumers' Federation of India (NCCF), which procures agricultural commodities like food grains, pulses, spices, oil seeds, onions and other consumer goods on behalf of the government and sells to consumers at reasonable rates.
US plans $162 million award to Microchip Technology to boost production
The funds will allow Microchip to triple production of mature-node semiconductor chips and microcontroller units at two US factories, officials said.
How to get tomatoes at Rs 90/kg in Delhi-NCR from today. Details here
India's National Cooperative Consumers' Federation (NCCF) has announced that it will sell tomatoes at a deep discounted rate of Rs 90 per kg in Delhi and the surrounding National Capital Region. The move comes in response to soaring tomato prices, which have seen costs hit as much as Rs 224 per kg.
Govt brings down subsidised rate of tomato to Rs 80/kg
The Union government on Sunday reduced subsidised rate of tomato to Rs 80/kg from Rs 90/kg with immediate effect in Delhi-NCR, other locations, a press release stated.
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