KEY TRENDS • Oxfam India's 2023 India Supplement report on poverty and inequality in India reveals that the gap between the rich and the poor is widening. Following the pandemic in 2019, the bottom 50 per cent of the population have continued to see their wealth chipped away. By 2020, their income share was estimated to have fallen to only 13 per cent of the national income and have less than 3...
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Indian banks gave more home loans than agricultural credit
In each of the last three years – from 2020 through 2022 – Indian banks lent more money to retail customers purchasing homes than they did to farmers. In fiscal year (FY)2021-22 commercial banks gaveRs. 17.54 lakh crore worth of housing loans, while agriculture and allied activities got Rs. 15.16 lakh crore. That is nearly 14 percent less. In FY 2021 and FY 2020 – one of which saw a...
More »Rice market set for a bull run -Subramani RA Mancombu
-The Hindu Business Line World over rice production is likely to fall due to a combination of drought and floods Three developments over the past couple of months have put the global rice market in focus. First, the India curbed rice exports by banning shipments of fully broken rice and imposing a 20 per cent duty on white rice exports. Second, Union Minister of Agriculture and Farmers Welfare Narendra Singh Tomar told the...
More »Good news from the farm as India’s FY22 foodgrain production estimated at record 316 mn tonnes -Sayantan Bera
-Livemint.com Wheat production estimate sees marginal upward revision to 106.8 million tons, though current rate lowest in 3 years. New Delhi: Production of foodgrain in India — comprising rice, wheat, coarse grains and pulses — is estimated at a record 315.7 million tonnes in 2021-22, shows the fourth advance estimates released by the Agriculture Ministry on Wednesday. According to the latest numbers, wheat production is revised upwards, though marginally, from 106.4 million tonnes...
More »CAI cuts cotton crop estimate for 2021-22 on lower yield, crop damages
-The Hindu Business Line Seeks extension in window for duty-free import shipments till December 31, 2022 Ahmedabad, June 18: Lower yield, unseasonal rains during the initial months of harvest coupled with the reduced acreage has led the cotton trade body, Cotton Association of India (CAI) to reduce its crop estimate to 315.32 lakh bales (each of 170 kg) for the season 2021-22. The latest crop estimate is about 12 per cent lower...
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