-The Telegraph New Delhi: A robust farm growth of 5.2 per cent in the March quarter pushed GDP growth up to 7.1 per cent. However, growth in the sector was lower than the previous quarter's expansion of 6.9 per cent. Farm growth for the full fiscal zoomed to 4.9 per cent because of good rainfall and record food-grain production compared with a near flat 0.7 per cent expansion in 2015-16. "The third...
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Between 2013-14 & 2016-17, rabi foodgrain output likely to drop by 1 million tonne
Much to our surprise, a careful relook at the newly released estimates on farm production from the Ministry of Agriculture and Farmers Welfare would reveal that the foodgrain production during the rabi season is likely to fall by almost 1 million tonne between 2013-14 and 2016-17. Please see chart-1. Amidst the celebration of a bumper harvest in the ongoing crop year, it needs to be explained why the rabi foodgrain output...
More »GST rates announced; milk, cereals to be exempted -Yuthika Bhargava
-The Hindu 81% items to be taxed at below 18% The Goods and Services (GST) Council on Thursday agreed on the fitment of almost all commodities in the various tax slabs under the new indirect regime to be rolled out on July 1. Milk, cereals (unpackaged and unbranded), and jaggery will be exempt from any GST, while sugar, tea, coffee (except instant), and edible oil will be taxed at 5%. Common use items...
More »Record global harvest of cereals, India too heads for a new high -Subodh Varma
-The Times of India Humanity harvested the largest ever cereal crop in its history in 2016-17 — a staggering 2.6 billion metric tonnes, according to the latest estimates of the UN-affiliated Food and Agriculture Organisation (FAO). The year is ending with the largest ever global stock of foodgrains in history, some 682 million tonnes. India too is heading for a record cereal crop as the previous year's final wheat is harvested and...
More »Pricier food, fuel push WPI inflation to 39-month high -Surabhi
-The Hindu Retail inflation too inches up in February New Delhi: Retail and farm gate prices surged in February as food articles and fuel products became more expensive. Data released on Tuesday revealed that consumer price index (CPI) based inflation rose to a four-month high of 3.65 per cent in February this year as against 3.17 per cent in January. It was, however, much higher at 5.26 per cent in February last year. Meanwhile,...
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