The government last week informed the Parliament that “no instances of illegal cultivation of genetically modified (GM) herbicide-tolerant (HT) cotton have come to notice.” “As per state government of Maharashtra, no instances of illegal cultivation of GM cotton (HT) have come to notice. However some cases of sale of illegal Bt cotton seeds (HT-Bt) have […]
The hike in import duty for gold from 10 per cent to 12.5 per cent, along with 3 per cent GST, has taken the total tax on gold to 15.5 per cent, providing potential stimulus to smuggling. Bullion analysts estimate that a staggering 200 tonnes of the precious metal would make its way into the […]
The government of India has allowed export of bio-fuels from special economic zones (SEZs) and export-oriented units (EoUs) with certain conditions, according to a notice of the directorate general of foreign trade. In August 2018, the government had imposed restrictions on export of bio-fuels for non-fuel purposes. After this restriction, exporters operating from SEZs and […]
According to data released by the agriculture ministry, area under rabi crops in India stands at 19.1 million hectares till now, down 15.9 per cent from a year ago. The decline can be attributed to low moisture content in the soil following weak and patchy distribution of rains during the crucial southwest monsoon season (Jun-Sep). […]
The Director General of Foreign Trade (DGFT) issued a public notice last week to discontinue duty free import of gold before exports. The move is meant to arrest the misuse of incentives offered on gold jewellery export.. The restricting move by the government has come a few months after the exposure of a scam in large jewellery houses in February […]
The India Pulses and Grains Association (IPGA) has asked the government to supply pulses through its public distribution system (PDS) to provide better price realisation to farmers and ensure the country’s nutritional security. The demand has been placed with the consumer affairs ministry, which pointed out that under the National Food Security Law, while the […]
Rabobank and the UN Environment agency have announced the creation of a new $1 billion facility to finance sustainable agriculture using a combination of public and private funding. Together, they have also invite other interested financial institutions to sign up and work actively with global food companies to put this into practice. The facility aims […]
India’s new Goods and Services Tax (GST) will unify the indirect tax system and remove domestic barriers to trade, which should support productivity gains and GDP growth over the long term, Fitch Ratings said in a note. The GST that came into effect on 1 July is relatively complex, including multiple tax rates for different […]
Twenty-five years ago there were only 10 urban areas in the world that could boast more than 10 million inhabitants. Now there are more than 35 so-called “megacities” worldwide, and by 2040 the United Nations estimates that nearly 65 percent of the world’s population will call cities home. According to Demographia’s latest World Urban Areas report, 37 urban areas provided […]
India has approved a new policy under which locally produced steel and iron products will get preference over imports in all government projects as part of a bigger plan to boost local steel capacity to 300 million tonnes (MT) by 2030. A government statement said the cabinet had approved the new steel policy that charts […]
