The union government has proposed to increase the total loans being offered to state-run electricity distribution companies (discoms) by Rs 30,000 crore to Rs 1.20 lakh crore from the Rs 90,000 crore announced earlier to cover the additional dues of these entities to power generators for the April-June period. The Centre had announced the scheme […]
India’s central bank governor Shaktikanta Das said on Wednesday that the nation’s economy is set for a gradual recovery as efforts to reopen businesses are confronted with rising infections of Covid-19. Addressing a webinar of the Federation of Indian Chambers of Commerce and Industry (FICCI) on the path forward from the pandemic, Das noted that some […]
Heavy monsoon rains have damaged India’s main summer-sown oilseed crop soybean, although the total output will still likely be higher than last year. “We think that the output could be around 105 lakh tons, instead of 115 lakh tons that we were anticipating at the start of the season,” said B.V. Mehta, executive director of […]
A day after the Centre banned exports of onions to contain a spike in domestic prices, farmers in the largest onion cultivating state of Maharashtra, held agitations, calling the move “arbitrary”, seeking removal of the ban. Prices of onions at Lasalgaon, Nashik, the country’s biggest onion market in Maharashtra, have doubled to Rs 3,000 per quintal […]
In a letter to Prime Minister Narendra Modi, the RSS-affiliate Swadeshi Jagran Manch (SJM) has asked the field trials of Bt Brinjal to be stopped immediately, “as it will defeat the campaign for self-reliance initiated by the Centre”. During the last meeting of Genetic Engineering Appraisal Committee (GEAC), the regulators in the Ministry of Environment had […]
Proposing a bilateral free trade agreement, Commerce and Industry Minister Piyush Goyal said India was open to discussing import of scotch whiskey from the UK in large quantity. “I was hoping that that would have … excited the British team. I had said that I am open to discussing import of scotch whiskey into India also in larger […]
After witnessing a rare trade surplus of $800 million in June, India’s trade deficit climbed to $ 6.77 billion, a four-month high. The latest surge is being attributed to a 171 per cent surge in gold imports, reflecting pent-up demand as well as elevated prices, with expectations of further imports in the run-up to the festive season. India’s […]
India’s domestic natural gas production fell by 9.5 per cent year-on-year (y-o-y) to 2,427 million metric standard cubic metre (MMSCM) in July this year. The 2.6 million tonnes (MT) of crude oil produced in the country during the month was also 6 per cent lower than the production in the year-ago period. Indigenous natural gas […]
The Centre has introduced three Bills in the monsoon session of parliament which seek to replace the recent ordinances to allow barrier-free inter-state trading of farm goods and contract farming. Once the law will pass the parliament and gazette soon thereafter, it will bolster bargaining strength of farmers. Introducing two bills — The Farmers’ Produce Trade […]
India’s gross domestic product (GDP) growth for fiscal year (FY) 2020 ending on 31 March 2021 is forecast to contract by 9.0% as the coronavirus disease (COVID-19) pandemic weighs heavily on economic activity and consumer sentiment in the country, according to a new report by the Asian Development Bank (ADB). In its Asian Development Outlook (ADO) […]
