-The Telegraph The finance ministry has warned that the current account deficit will deteriorate in 2022-23 because of costlier imports and tepid Exports on the merchandise account The country’s trade deficit touched an all-time high of $26.18 billion as imports expanded 57.88 per cent to $66.31 billion in June because of a doubling of oil imports and a spike in the inflow of coal, gold, electronic goods and chemicals. The finance ministry has...
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Does India have enough rice for welfare schemes and ethanol? What the govt is missing -Siraj Hussain
-ThePrint.in Procurement of rice stocks has seen a significant increase. But India is seeing deficient rains and increase of ethanol distilleries. The Narendra Modi government’s move to ban wheat Export was followed by several other measures to conserve stocks, which were projected to deplete in 2022-23 on account of lower procurement in the central pool, continuation of Pradhan Mantri Garib Kalyan Anna Yojana up to September, and the possibility 5 million tonnes...
More »RSS farmer body Bharatiya Kisan Sangh slams Centre’s farm policies -Ishita Mishra
-The Hindu Exim policy for agricultural produce should be long-term and in farmers’ interests, BKS says Bharatiya Kisan Sangh (BKS), the Rashtriya Swayamsewak Sangh’s (RSS) farmers’ group, criticised the Centre’s Export and import policies. The BKS urged the government to frame long-term Export and import policies that are in the interests of farmers. The BKS, which held a meeting of its all India managing committee in Raipur last week, said it’s being seen...
More »Why India’s trade deficit rose to a record high in June -MG Arun
-IndiaToday.in Higher import values of crude and petroleum products, coal, coke and electronic goods have contributed to the rise India’s trade deficit—the difference between the value of its imports and Exports—rose to a record $25.6 billion this June (about Rs 2 lakh crore), almost three times the figure for the same month last year ($9.61 billion, or about Rs 76,000 crore). The spike was primarily driven by the import cost of petroleum,...
More »DGFT issues RCs for 1.6 mn tonne wheat Export after May 13 ban order
-PTI/ The Hindu Business Line Registration certificates of wheat to Exporters having valid letter of credit The commerce ministry's arm Directorate General of Foreign Trade (DGFT) has issued registration certificates for about 1.6 million tonne of wheat to Exporters having valid letter of credit, after the ban order of May 13, an official said. The government is allowing wheat shipments for which irrevocable letters of credit (L/C) were issued on or before May...
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