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...

A report on ‘State of Indian Agriculture 2011-12’, tabled in the Lok Sabha on Tuesday, has called for reforms to ensure that the sector grows in tandem with the overall GDP of the country. The report says that “achieving an 8-9% rate of growth in the overall GDP may not deliver much in terms of poverty reduction unless agricultural growth accelerates”. Admitting that the sector has undergone ‘significant structural changes’ in...

-The Indian Express   Increasing farm production and removing market imperfections would help in controlling prices of commodities, a report has said. The report on 'State of Indian Agriculture 2011-12', tabled in the Lok Sabha, said that the principal factors behind the higher levels of inflation in the recent period are constraints in production and distribution especially in high value items such as pulses, fruits and vegetables, egg and meat. Increase in prices can...

The latest round of data on the 2011 Census shows that the country is exhibiting distinct signs of trading up as material living conditions improve for large sections of the population. Although this aggregate picture is not uniform across the country, analysts believe that the upward material mobility in society is creating the basis of a new consumer boom in the economy—serving up a perfect backdrop ahead of the presentation of...

-The Hindu Business Line A Government report has called for enhancing investment in agriculture and leveraging technology to boost the country's farm sector growth in the years ahead. The report ‘State of Indian Agriculture 2011-12,' released by the Agriculture Ministry on Tuesday, called for institutional reforms in research set up to make it more accountable and geared towards delivery, conservation of natural resources such as water and land among others. “Achieving a 8-9...