Government-owned oil marketing companies (OMCs) may witness a 52% jump in losses on account of selling fuel below cost at state-mandated prices to Rs.2 trillion in the next financial year, said R.S. Butola, chairman, Indian Oil Corp. Ltd (IOC), the nation’s largest fuel retailer. Such an increase will impact the financials of government-owned OMCs such as IOC, Hindustan Petroleum Corp. Ltd (HPCL) and Bharat Petroleum Corp. Ltd (BPCL), which currently register...
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Budget 2012: Introduce VAT on farm produce, says government report
-PTI With agriculture share in GDP halving to 15 per cent in the last two decades, a government report card today called for major reforms, from marketing to investment, and new technologies for accelerating farm growth. The report on 'State of Indian Agriculture 2011-12', tabled in the Lok Sabha said, "Achieving an 8-9 per cent rate of growth in overall gross domestic produce (GDP) may not deliver much in terms of poverty...
More »Scheme to share loss suffered by potato, onion growers
-PTI Amid reports that potato and onion farmers were dumping their produce due to fall in prices, Agriculture Minister Sharad Pawar today assured Parliament that a scheme is in place to share the loss incurred by the growers. The Agriculture Ministry implements a Market Intervention Scheme (MIS), after it receives proposals from state government on the need for procurement of agricultural and horticultural crops, Pawar said in a reply to a query...
More »Bihar farmer Nitish Kumar sets 'world record' in potato production
-IANS Chief Minister Nitish Kumar's dream of India's second green revolution taking off from Bihar seems to be coming closer to reality. A young farmer of Darveshpura village in his native Nalanda district has set what is claimed to be a world record in potato production through organic farming. Three months ago, a group of farmers in the same village had created a "world record" producing 224 quintals of paddy per hectare...
More »States want to be effective stakeholders in counter-terrorism domain by Vinay Kumar
While agreeing in principle on the need to have an effective anti-terrorism mechanism on the lines of the proposed National Counter Terrorism Centre (NCTC), almost all States on Monday emphasised the need to make them an “effective stakeholder'' in all aspects of counter-terrorism domain. At a day-long meeting of the State police chiefs, Chief Secretaries and Home Secretaries, presided over by Union Home Secretary R. K. Singh, top officials wanted more...
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