-The New Indian Express Based on the recommendation of the GST Council, the Centre has issued notifications bringing essential commodities including rice and maize under 5% GST slab from July 18. MADURAI: The decision of the Union government to levy 5% Goods and Services Tax (GST) on packaged food may increase the price of rice by a minimum of Rs 3 to Rs 5 per kg from Monday, Tamil Nadu rice mills...
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Retail inflation eases to 7.01% in June, but remains above RBI's target band -Meghna Sen
-Livemint.com For the sixth month in a row, the retail price inflation stayed well above the RBI's upper tolerance limit of 6% India's retail inflation eased slightly to 7.01% in June against 7.04% in the previous month, government data showed today. However, in June 2021, the retail inflation stood at 6.26%. The consumer price-based inflation (CPI) has breached the upper limit of RBI's tolerance band, ranging from 2-6%, for the sixth consecutive...
More »UN Report: Global hunger numbers rose to as many as 828 million in 2021
-Press release by FAO dated 6 July 2022 The latest State of Food Security and Nutrition report shows the world is moving backwards in efforts to eliminate hunger and malnutrition Rome/New York: The number of people affected by hunger globally rose to as many as 828 million in 2021, an increase of about 46 million since 2020 and 150 million since the outbreak of the COVID-19 pandemic (1), according to a United...
More »DGFT issues RCs for 1.6 mn tonne wheat export after May 13 ban order
-PTI/ The Hindu Business Line Registration certificates of wheat to exporters having valid letter of credit The commerce ministry's arm Directorate General of Foreign Trade (DGFT) has issued registration certificates for about 1.6 million tonne of wheat to exporters having valid letter of credit, after the ban order of May 13, an official said. The government is allowing wheat shipments for which irrevocable letters of credit (L/C) were issued on or before May...
More »As midterms approach, Republicans step up rhetoric on India’s trade practices -Prashant Jha
-Hindustan Times India has consistently maintained that this position is based on both an erroneous reading of the nature and intent of India’s price support mechanisms and underplays the scale of America’s support to farmers. Washington: As elections for the House of Representatives loom, a group of Republican Congressional representatives from America’s agricultural belt or with agricultural interests have stepped up the rhetoric against India’s agricultural subsidies — alleging that these distort...
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