PM Modi calls upon farmers to cut usage of chemical fertilisers, pesticides

Prime Minister Narendra Modi made an emotional appeal to farmers to reduce use of chemical fertilisers and pesticides by 10-25% to save the soil. He invoked the sacrifices of freedom fighters and asked farmers to get blessings in saving ‘Mother Earth’ by reducing the chemicals used in agriculture. Pointing out that no one has the right to […]

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India’s NAFED to set up 100 bio-CNG plants under public-private partnership (PPP) model

National Agricultural Cooperative Marketing Federation of India Ltd (NAFED), the apex organisation of marketing cooperatives for agricultural produce in India, plans to set up 100 bio-CNG manufacturing facilities, with an estimated investment of Rs 5,000 crore, across the country, under the public-private partnership model. NAFED has also entered into an agreement with Indian Oil Corporation […]

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Saudi Arabia to open $22.7 billion mining project; to increase non-oil GDP by 3%

Saudi Arabia’s King Salman inaugurated last week the Waad Al-Shamaal project, a 440-square-km city for mining industries in the country’s northern region, Al Arabiya TV said, quoting energy minister Khalid al-Falih. The mining project is expected to boost the kingdom’s gross domestic product by 24 billion riyals ($6.4 billion) and its non-oil GDP by around […]

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Delay in fixed cost reimbursement by government weakening profitability of urea units in India – ICRA

Urea units in India have been facing under-recoveries because of the non-revision of fixed costs being reimbursed under the prevalent subsidy mechanism, ratings agency ICRA said in a report. The fixed costs were last revised in April 2014 under Modified New Pricing Scheme-III (Modified NPS-III) by Rs. 350/tonne for all urea units with a floor […]

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India’s fertiliser sector seen boost in the upcoming budget as government focuses on farming, says ICRA

The annual Indian budget due next month is likely to have several policy measures to give a stimulus to the agricultural sector such as on irrigation, crop insurance, e-NAM and agricultural credit, which will help the fertiliser players, ICRA said. The sector is highly regulated with controls on several aspects pertaining to their business. The […]

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