India’s central bank leaves lending rates unchanged; expects farm-led economic recovery

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India’s central bank left the benchmark lending rate unchanged and vowed to maintain its accommodative monetary policy to facilitate the economy’s recovery in wake of the covid pandemic. The Reserve Bank of India (RBI) maintained the repo rate at 4% and the reverse repo rate at 3.35%. At the same time, the bank announced a raft […]

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United States remains India’s top trading partner in 2019-20

The United States remained India’s top trading partner for the second consecutive fiscal in 2019-20, which shows increasing economic ties between the two countries. According to the data released by the commerce ministry, in 2019-20, the bilateral trade between the US and India stood at USD 88.75 billion as against USD 87.96 billion in 2018-19. […]

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Indian industry hails cabinet decision to amend Essential Commodities Act as defining reforms

The Indian cabinet’s decision to amend the Essential Commodities Act to remove restrictions on storage as well as allowing farmers to sell their products across the country would mark “defining reforms” in the agricultural sector,  industry body ASSOCHAM said Wednesday. The proposed amendments will mean essentials like grains, oil, pulses, potatoes, onions would be excluded from the […]

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Modi asks Indian industry to forge rural partnerships to take advantage of agri reforms

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Indian Prime Minister Narendra Modi urged industry leaders on Tuesday to partner with farmers to take full advantage of a plethora of reforms for the agriculture aimed at unleashing the sector’s dormant potential post the covid outbreak. Speaking at the inaugural session of Confederation of Indian Industry’s 125th annual general meeting titled “Getting Growth Back,” Modi […]

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India’s president sets tone for government’s increased focus on farm and farmers in upcoming budget

India’s President Ram Nath Kovind on Monday set the tone for the ruling Bharatiya Janata Party’s (BJP) potentially larger focus on agriculture in the upcoming national budget when he recounted steps taken to boost farm income and farmers’ income. “The highest priority of my Government is to remove various difficulties faced by farmers and to […]

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El Niño continues its slow and steady decline

  The tropical Pacific Ocean has cooled further over the past fortnight, and trade winds are near normal. However the Southern Oscillation Index (SOI) remains very low, indicating that while El Niño is easing, it is still capable of influencing global climate, the Australia’s Bureau of Metreology said. It said in its latest forecast that […]

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Indian Budget 2016-17: Expert View – Agriculture

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Stepping into third year of administration, the focus of Narendra Modi-led government has turned towards addressing the growing stress in agrarian India. The unprecedented consecutive monsoon failures in the last two years along with collapse of global commodity prices has severely affected rural economy. Employment guarantee, rural roads, irrigation, crop insurance and interest subvention on […]

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Australia says farm production forecast to top $60 billion next fiscal

The gross value of Australia’s farm production is forecast to pass $60 billion for the first time next financial year, according to the latest figures from the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) The expected modest rise in value was bolstered by improved prospects for livestock and cropping industries, said ABARES Executive […]

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