Dairy focused Moneyboxx Finance reports smooth collection during moratorium period

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In what could be seen as an example of India’s agri and allied business doing well despite harsh economic impact of Covid-19, Moneyboxx Finance that is focused on lending to the dairy sector has reported high repayments even during the government-mandated loan moratorium between April and Septembet. “ In the April- June quarter when the loan […]

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India’s fisheries sector can grab almost $9 billion investment in 5 years

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India expects the fisheries sector to attract investments worth $ 9 billion (Rs 67,000 crore) over the next five years along with huge employment generation. Fisheries exports are expected to more than double to Rs 100,000 crore by 2024-25 from Rs 46,589 crore at present, Union Fisheries Secretary Rajeev Ranjan said at an e-conference of […]

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Global economy recovering, but may be losing momentum: IMF chief

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The global economy is recovering from the depths of the coronavirus crisis, but there are signs of slowing momentum in countries with resurging infection rates, the International Monetary Fund said in a new report for G20 major economies, as reported by Reuters News Agency. The report, released ahead of last week’s virtual meetings of finance […]

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India’s food ministry approves Rs 12,500 crore loan to 185 sugar mills to set up ethanol units

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India’s Food Ministry has given in-principle approval to 185 sugar mills and standalone distilleries to avail Rs 12,500 crore of loans to add capacity up to about 468 crore litres of ethanol per annum as part of its efforts to achieve 20 per cent blending with petrol. The move is aimed at boosting ethanol blending […]

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India approves Rs 107.42 crore grant for 28 food processing projects

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The Indian government approved a grant of Rs 107.42 crore for implementing 28 food processing projects spread over 10 states that are likely to generate jobs for nearly 10,000 people.  A decision in this regard was taken in the virtual meeting of the Inter-Ministerial Approval Committee (IMAC) chaired by Food Processing Industries Minister Narendra Singh […]

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On World Fisheries Day, UP wins best performer tag in inland fisheries; Odisha the best marine state

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On the occasion of World Fisheries Day on 21 Novemeber, 2020, Uttar Pradesh was awarded as best performing state in inland fisheries sector while Odisha got the award of the best Marine state by the Department of Fisheries, Ministry of Fisheries, Animal Husbandry and Dairying, Government of India. Addressing the gathering, the Minister of State for Fisheries, Animal Husbandry and […]

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Weekly wrap – India’s haemorrhaging economy begins to heal

The global economy is recovering from the depths of the coronavirus crisis, but there are signs of slowing momentum in countries with a resurgence in infection rates, the International Monetary Fund said in a new report for G20 major economies. The report, released ahead of this week’s virtual meetings of finance officials and leaders from […]

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Moody’s forecasts lower GDP fall for India in FY21; Morgan Stanley too projects lower contraction

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India’s latest round of stimulus measures shifted focus back to longer-term growth by focusing on manufacturing and job creation, global rating agency Moody’s said, as it predicted a 10.6% contraction in the country’s real GDP in FY21, against a 11.5% drop forecast earlier. India’s economy has started to heal as is evident by a significant […]

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