-The Hindu Business Line Economic Survey says Parliament can pass laws to override States' powers to create such a thing The Budget has proposed the setting up of a national agriculture market. Agriculture in the country is a State subject and thus all the States have set up Agricultural Produce Marketing Committees (APMC) to regulate the marketing of agricultural commodities. Thus, APMCs have been considered an inhibiting factor for establishment of a national...
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Create National Common Market in Agricultural Commodities: Economic Survey 2014-15
-Press Information Bureau/ Ministry of Finance The Economic Survey emphasizes on the need for a national common agricultural market and identifies un-integrated and distortion ridden agricultural market as the one of the most striking problems in agriculture growth. The Economic Survey suggests 3 incremental steps as possible solution, building on the Budget 2014 recognition for setting up a national market, farmers' markets and need for the Central Government and the State Government...
More »Centre raises import duty on crude, refined edible oils -Sanjeeb Mukherjee
-Business Standard Increases duty on crude edible oils to 7.5% and on refined edible oils to 15% To protect the interests of farmers and provide a level-playing field to domestic oilseed processors, the government has raised the import duty on crude edible oil from 2.5 per cent to 7.5 per cent and that on refined edible oils from 10 per cent to 15 per cent. "Yes, the government had raised the import duties...
More »Inflation drops to 5-year low
-PTI Continuing decline in food prices, including vegetables, pulled wholesale price inflation to a five-year low of 1.77 per cent in October. The Wholesale Price Index (WPI) based inflation was at 2.38 per cent in September and 7.24 per cent in October 2013. As per data released by the government today, the food inflation fell to a nearly two-and-a-half year low of 2.7 per cent. Food inflation is on decline since May. The sharp...
More »Your food is not cheaper yet, but wait a while -Harish Damodaran
-The Indian Express * Have global agri-commodity prices fallen? By how much? They have. The Food and Agricultural Organisation's latest Food Price Index (base: 2002-04 = 100) of 192.3 for October is down 6.9 per cent compared to a year ago, and 19.1% below the all-time high of 237.7 reached in February 2011. Prices of commodities such as corn, wheat, soybean, sugar and palm oil traded in international futures exchanges are today...
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