India will stop importing thermal coal from Financial Year 2023-24, said Union Minister of Coal and Mines Shri Pralhad Joshi while chairing “Chintan Shivir” – a two day brainstorming session. The session was organized to find a way forward for the coal sector – at Kevadia in Gujarat on 17th and 18th February 2020. “The Shivir […]
India’s regulator, the Securities and Exchange Board of India (SEBI) board has decided to allow non-banking custodians to manage gold-exchange traded funds (ETFs) and other gold-related products. Banking custodians can continue to provide these services, it stated after a meeting. The board decided to bring amendments to the SEBI (Mutual Funds) Regulations, 1996, in this […]
Gold imports, which have a bearing on the country’s current account deficit (CAD), fell about 9 per cent to USD 24.64 billion (about Rs 1.74 lakh crore) during April-January period of the current financial year, according to Commerce Ministry data. Imports of the yellow metal stood at USD 27 billion in the corresponding period of […]
India’s oil demand is expected to reach 6 million barrels per day (bpd) by 2024 from 4.4 million bpd in 2017. The demand growth is set to overtake China by mid-2020s, priming the country for more refinery investment but making it more vulnerable to supply disruption in the Middle East, the International Energy Agency (IEA) […]
Responding to activist’s petition on the increasing use of aerial spraying and consequent damage to the environment, the central government has recently decided to make the pesticides spraying through drones as ‘illegal’. Moreover, the Union Government has clarified that drone-spraying is illegal. “As per the provisions of Insecticides Act 1968, aerial application of pesticides needs […]
The National Commodity & Derivatives Exchange (NCDEX) has stated that it has maintained its leadership position in January with its performance in the agri-commodities segment. The exchange led the agri-derivatives market in India across number of contracts, open interest in value and traded value. Reflecting 72 per cent of total market share, the exchange registered […]
Inaugurating the UN World Pulses Day celebrations in New Delhi, Union Minister for Agriculture & Farmers Welfare Narendra Singh Tomar said that initiatives of the Government in increasing pulses production in the country yielded positive results and Government is committed to provide remunerative prices to farmers for the produce, a release by Press Information Bureau […]
With Chinese markets remaining closed amid the coronavirus outbreak, commodity exports of cumins, sesame seeds and groundnut oil, could take a 10-15 per cent hit over the next two months or so. According to traders and exporters, China accounts for 20 per cent to 30 per cent of India’s export of some key commodities. Each of these could fall […]
Aiming to reach the target of doubling farmer’s income by 2022, the Pradhan Mantri Kisan Urja Suraksha Utthan Mahabhiyan (PM KUSUM) scheme will be expanded to cover 20 lakh farmers across the nation. The Solar Pump Yojana which promises to fulfill the irrigation and water problems by providing a 60% subsidy to the farmer for […]
Integration of electronic negotiable warehousing receipts (e-NWR) with the Electronic National Agriculture Market or eNAM, as announced by the Finance minister in her Budget speech on Saturday, is expected to be complete in one or two months. Warehouse receipts are issued by repositories who keep electronic records of goods deposited in a warehouse and subsequent transfers, in […]
