-TheWire.in The rise and fall of the biggest importers of edible oil in the world. ‘Freedom is the greatest fruit of self-sufficiency’ – Epicurus The COVID-19 pandemic has been detrimental for globalisation and has led to a clamour for protectionism. India’s national strategy is also in line with this trend with calls for ‘Atmanirbharta’ and ‘vocal for local’ increasing. Traditionally, India was an exporter of edible oil before Independence, became self-sufficient post-Independence (till the early 1970s),...

-Society for Social and Economic Research The economic reforms which were started in 1991 shifted the focus of fertilizer policies away from playing a leading role in building the fertilizer industry and ensuring the availability of fertilizers at affordable prices to farmers. Under the neo-liberal policy framework, reducing the fiscal burden of fertilizer subsidies and the foreign exchange burden of fertilizer-related Imports became the overriding concerns of the state.  Interestingly, the post-liberalisation...

-The Tribune 70% India Imports almost three-fourths of its annual domestic consumption of edible oils KHARIF harvesting operations are going to begin soon. Agricultural production is likely to surpass last year’s record production by 7-8%. The higher production inevitably puts downward pressure on market prices. The problem of low harvest prices has been compounded by the steep fall in the GDP growth rate in the first quarter of 2020-21; it will reduce...

-TelanganaToday.in Pvt consumption and investment (90% of GDP) have shrunk 35% and revised numbers could present a scarier picture On 31st August, the National Statistical Office (NSO) came out with the provisional estimate of the GDP. According to this, the GDP shrunk by 23.9% during April, May and June as compared with the first quarter of the last financial year (2019-20). Aggregate private final consumption expenditure contracted 26.7% and investment (including gross...

-Livemint.com The collapse of GDP growth by 23.9% for the Apr to Jun period isn’t a surprise. The economy was under a strict lockdown for most of the time to contain the pandemic. Nevertheless, a little digging throws up interesting trends. Mint takes a look. * What does the GDP figure highlight? One way to measure the GDP is to add private consumption expenditure, government consumption expenditure, investment and net exports (exports minus...