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Wheat export at 70.30 lakh tonnes till Mar 21 this fiscal: Govt tells Parliament

-PTI/ Business Standard "The total export of wheat in terms of quantity during 2021-22 (till 21st March 2022) was 70.30 LMT" The total wheat export stood at 70.30 lakh tonnes till March 21 this fiscal, with maximum shipments to Bangladesh followed by Sri Lanka and UAE, Parliament was informed on Friday. As both Ukraine and Russia are major exporters of wheat with more than 25 per cent total share in the global wheat...

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Sanctions within a Regime of Neo-liberalism -Prabhat Patnaik

-NetworkIdeas.org Before joining the neo-liberal order, India used to have “rupee payment arrangements” with the Soviet Union and Eastern European socialist countries under which the main international reserve currency, the US dollar, was used neither for settling transactions nor even as the unit of account in terms of which the trade-related transactions were denominated. The dollar in short was used neither as the means of circulation, nor even as the unit...

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The Ailing PM Fasal Bima Yojana Needs a Structural Redesign -Baikunth Roy and Satyendra Kumar

-TheWire.in Despite increasing allocated funds, the Union government has been unable to significantly improve penetration of crop insurance in terms of enrolled farmers and insured areas. India’s agriculture sector, which provides employment to more than 50% of the labour force and contributes about 17% of the gross domestic product, currently faces multiple challenges. Smaller land holdings, unfavourable climate changes events, dismal public and private investment, low monthly incomes, a high proportion of...

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Are we overestimating the fiscal boost to the economy? -Roshan Kishore

-Hindustan Times Gross domestic product (GDP) statistics are released at both current and constant prices. The latter discounts inflation (more on this later) from the base year of the current GDP series. Let’s assume it takes a tonne of steel to build half a kilometre of road. Let’s also assume steel costs ₹1,000 a tonne and there is a tax of 10% on steel. Now, if steel prices doubled in a year,...

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Understanding the NCRB data on suicides with caution

The increase in the total number of suicides committed in India during 2020 in comparison to the previous years has hit the headlines recently. While some media commentators have stated that the economic distress (caused by job loss, income loss, failure of business, and growing hunger, among other things) in 2020 could have led to more suicides being committed, others have said that home isolation and deteriorating mental health (associated...

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