In his Mann ki Baat address to the nation on 30th May, 2021, Prime Minister Shri Narendra Modi appreciated the fact that the farmers received "more than the minimum support price (MSP) for mustard" pertaining to the rabi production. One can easily guess from this statement of the PM that the mustard growers in Haryana (and elsewhere) preferred to sell their produce to private traders in the open market instead...
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ADB sees India grow by 11%, adds caveat
-The Hindu Lender sees ‘considerable downside risk’ from latest COVID wave, says may revise forecast in July The Asian Development Bank has raised its forecast for India’s growth in 2021-22 to 11%, from 8% earlier, even as it warned that failure to control the resurgence of COVID-19 cases including April’s exponential jump poses a “considerable downside risk to the recovery”. ‘Targeted containment’ In its assessment based on end-March data, the ADB cited this year’s...
More »India exported nearly 9300 metric tonnes of oxygen in FY21 as pandemic rolled on -Subhayan Chakraborty
-MoneyControl.com Official figures show that in just the first three quarters of 2020-21, 9294 MT of oxygen was exported from the country, more than double the 4502 MT exports in the previous year. The vast majority of Oxygen headed to neighboring nation Bangladesh. While the supply of medical Oxygen runs low across the country and it gears up to import medical Oxygen, official data shows that nearly 9,294 metric tonnes (MT) of...
More »First rice, now wheat: India rides on global grain trade bandwagon -Harish Damodaran
-The Indian Express The US Department of Agriculture (USDA) on Tuesday upped its forecast of Indian wheat exports for 2020-21 (July-June) to 1.8 million tonnes (mt), as against its earlier estimate of one mt. That would be the highest ever in the last six years After rice, India is set to turn a major exporter of wheat as well – thanks to surging international prices from Chinese stockpiling and ultra-low interest rate...
More »The fiscal situation will not stabilise in 2020-21 unless consumption improves -Soumya Kanti Ghosh and Tapas Parida
-The Indian Express The Union budget should focus on enhancing credit flows to the small and marginal farmers, increase investment in health and education. The first advance estimates of GDP for 2020-21 are much better than the earlier market consensus and shows the inherent strengths of the Indian economy. The economy is expected to contract by 7.7 per cent implying a COVID-19 induced loss of Rs 9.61 lakh crore in real terms...
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