-The New Indian Express Based on the recommendation of the GST Council, the Centre has issued notifications bringing essential commodities including rice and maize under 5% GST slab from July 18. MADURAI: The decision of the Union government to levy 5% Goods and Services Tax (GST) on packaged food may increase the price of rice by a minimum of Rs 3 to Rs 5 per kg from Monday, Tamil Nadu rice mills...
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Why the American Argument Against India's Food Subsidies Is Deceptive at Best -Biswajit Dhar
-TheWire.in India is being targeted using a deeply flawed methodology that the WTO has prescribed for estimating subsidies arising from market price support. On July 1, a dozen US Congressmen wrote a letter to President Joe Biden, asking him to hold India to account for its decades-long violation of commitments made to the World Trade Organisation (WTO). Their contention was that India had been providing minimum support prices to its farmers in violation...
More »Country's Trade gap at all time high of USD 26 billion
-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...
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 »UN Report: Global hunger numbers rose to as many as 828 million in 2021
-Press release by FAO dated 6 July 2022 The latest State of Food Security and Nutrition report shows the world is moving backwards in efforts to eliminate hunger and malnutrition Rome/New York: The number of people affected by hunger globally rose to as many as 828 million in 2021, an increase of about 46 million since 2020 and 150 million since the outbreak of the COVID-19 pandemic (1), according to a United...
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