In a significant development, state-run oil companies in India are reportedly considering a reduction in the prices of petrol and diesel next month, following their anticipated record-breaking net profits in the third quarter. Reports indicate that the combined net profits of the three oil marketing companies (OMCs) could surpass a staggering Rs 75,000 crore, prompting […]
The government will judge the current import control system for specific IT hardware goods like laptops and tablets after assessing the import data it is monitoring after September, the news agency PTI reported. In October of last year, India implemented an import management system that requires importers of certain items to get government authorisation. The […]
Under the incubation component of the micro, small and medium enterprise (MSME) innovative scheme, the Centre has approved 533 ideas for nurturing and development with an amount of only Rs 43.30 crore during the last three years. Minister of State for MSME, Bhanu Pratap Singh Verma in a written reply to the Lok Sabha said […]
Despite a decline in retail inflation to a four-month low of 4.87 per cent in October, India’s food inflation continues to exceed New Delhi’s “comfort” level, as indicated by a government official on Wednesday. The country’s retail inflation is approaching the central bank’s target of 4 per cent, a prerequisite for initiating rate reductions, the […]
Indian wheat prices surged to an eight-month high on Tuesday, propelled by strong demand for big festivals, limited supplies and as import duty makes overseas buying unfeasible for domestic flour mills. The increasing prices may prompt the government to release more stocks from inventories and eliminate import duties on the cereal to bolster supplies and […]
Union Minister Anurag Thakur on Friday said that the surge in illicit trade is a troubling consequence of globalisation which casts a shadow on the country’s progress toward achieving a 5 trillion-dollar economy. Addressing the 9th edition of FICCI CASCADE’s ‘MASCRADE 2023’, Anurag Thakur said, “Illicit trade, whether conducted through activities like smuggling, counterfeiting, or […]
Farmers have suffered a heavy loss due to sudden heavy rainfall that occurred at Krishi Upaj Mandi in Madhya Pradesh’s Mandsaur district on Friday evening. The farmers at the mandi tried hard to save their garlic from water but due to the heavy rain, the garlic started flowing. It rained heavily for about an hour […]
The Department of Food and Public Distribution (DFPD) in India has lauded the Government’s prompt actions, leading to a substantial availability of sugar at reasonable prices across the country. While speaking to ANI, Secretary of DFPD, Sanjeev Chopra informed that as the current Sugar Season (Oct-Sep) 2022-23 approaches its end on 30 September 2023, India […]
The central government has sold 1.66 lakh metric tonne (LMT) wheat and 0.17 LMT rice through the Open Market Sale Scheme (D) in an e-auction held on 06 September 2023. The Ministry of Consumer Affairs, Food and Public Distribution in a statement said that a quantity of 2.0 LMT wheat from 500 depots and 4.89 […]
Some Indian farmers are becoming wealthy thanks to an eight-fold increase in tomato prices, but their windfall gains might not last long given that supplies are projected to increase in the coming weeks. According to data gathered by the food ministry, tomato retail prices were Rs 178 ($2.20) per kilogramme in Delhi on Sunday, up […]
