FCI raises Rs 22,000 crore in short-term loans

The Food Corporation of India (FCI) has availed short term loan of Rs 22,000 crore in the current fiscal to finance its operations due to inadequate provisioning of the food security expenses by the finance ministry, reports Financial Express. Against expenses of more than Rs 75,000 crore in the current fiscal, the finance ministry has allocated around […]

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Falling prices of agricultural commodities on new arrivals likely to cool food inflation in coming months

Retail prices of tomato, which rose to Rs 100/kg six weeks ago as heat waves adversely impacted output, has since moderated thanks to robust arrivals and prospects of good crop in Maharashtra, Karnataka, Andhra Pradesh and Telangana. According to data by the department of consumer affairs, although average retail prices of tomato are still higher […]

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India’s food ministry asks states to cut mandi tax and other levies to 2% of the MSP

To control rising expenses, the Union government has asked grain-surplus states to initiate measures including restricting statutory charges such as mandi fees, rural development cess and other procurement expenses to 2% or less on the minimum support price (MSP) provided to farmers. It also asked states to follow an open tendering process to cut costs […]

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