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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States in India asked to waive trade fee (Mandi tax) on e-NAM platform

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After the new farm bills that recently became laws to allow barrier-free trading of agriculture commodities across the country, the Centre has asked states in India to reduce the mandi tax to 0.5 per cent. As a first step, the market fees on the electronic National Agriculture Market (e-NAM) platform must be reduced, the Centre […]

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Maharashtra cotton seed companies to specify production tech of hybrid varieties on packs

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The government of Maharashtra has directed the companies selling hybrid cotton seeds to specify in detail the technology used in production of seeds on the pack, reports Financial Express. Seed companies in Maharashtra and other cotton producing states have expressed displeasure at this decision. Dilip Zende, director, quality control, Department of Agriculture, Maharashtra, told Financial […]

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Soybean oil processors urge Indian government to ensure smooth supply of hexane

The Soybean Processors Association of India (SOPA) has urged the petroleum ministry to ensure smooth and uninterrupted supply of hexane to soya processors. DN Pathak, executive director of SOPA, said the association has been informed by many of its members that they are not getting adequate supply of hexane in a letter to Tarun Kapoor, […]

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India’s new fiscal stimulus shifts focus back to longer-term growth, says Moody’s

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India’s recent $36 billion-worth economic stimulus measures that aim to boost manufacturing and create more jobs present a potential upside to the country’s economic growth forecasts, Moody’s said in a report on Thursday. Only about a week ago, the global ratings agency had revised upwards its previous growth forecast for the South Asian nation. It had […]

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Liquid milk sales in India to sustain momentum despite fall in institutional demand due to Covid – report

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Growth of liquid milk sales in India is not seen being impacted by a sharp fall in institutional demand for dairy products due to a pandemic-led lockdown in the first half of the year, according to a report by credit ratings agency ICRA. Speaking with indoasiancommodites.com, Gaurav Jain, Vice President (Corporate Ratings), ICRA, said household […]

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India’s trade unions call nationwide strike on 26 November to support farmers’ agitation

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Ten central trade unions have said they are going ahead with their planned nationwide general strike on November 26 and also announced their support to a two-day farmers’ agitation next week. The meeting of the Joint Platform of Central Trade Unions (CTUs) and sectoral independent Federations and Associations was held virtually on November 16, 2020. […]

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