Category: Economy News

Food and Agriculture Organization's (FAO)

After India’s export ban and the conflict in Ukraine, global wheat prices have risen

Wheat prices have risen on international markets following India’s announcement of a restriction on exports of the basic commodity, as well as lower production prospects in Ukraine following Russia’s invasion, according to the UN food agency. In May 2022, the Food and Agriculture Organization’s (FAO) Price Index averaged 157.4 points, down 0.6% from April. However, the index, which analyses monthly […]

global steel industry

With increased crude steel production, India and Southeast Asia’s emission profile would worsen

According to an industry analysis released on Tuesday, India and Southeast Asia would worsen their emission profile as crude steel production develops through the Blast Furnace (BF) and Basic Oxygen Furnace (BOF) routes. India has set a goal of producing 300 million tonnes by 2030-31, when local demand is likely to exceed 200 million tonnes. In 2021, Indian steel mills produced […]

world's largest wheat importers

Egypt plans to purchase 500,000 tonnes of wheat from India

Egypt, one of the world’s largest wheat importers, is seeking alternatives to Black Sea grain shipments, which are being disrupted by Russia’s invasion of Ukraine, two of Egypt’s key wheat suppliers. “We have agreed to acquire half a million tonnes from India,” Moselhy said during a press briefing on the sidelines. Amid a searing heatwave that has the restricted local […]

Power consumption grows

Power consumption grows steadily at 4.6% to 126.12 billion units in March

India’s power consumption has grown steadily at 4.6 per cent year-on-year in March to 126.12 billion units (BU), showing the impact of early onset of summers and easing of lockdown restrictions by states. Power consumption in March 2021 was 120.63 BU, higher than 98.95 BU in the same month of 2020, as per the power ministry data. Power consumption in February grew by […]

India cuts coal supply inventories

India cuts coal supply, inventories slump as power demand surges

India has cut coal supplies to the non-power sector and put on hold plans to increase the number of fuel auctions for utilities due to a slump in inventories at state government-owned utilities even as demand for electricity surges. The supply cuts come months after India’s most crippling coal shortage in recent years led to power cuts lasting up to […]

Goa cabinet decides to provide 3 cooking gas cylinders

Goa cabinet decides to provide 3 cooking gas cylinders free to households

The Goa government has said it will provide three cooking gas cylinders free of cost to households in the coastal state, as promised by the BJP in its election manifesto. Chief Minister Pramod Sawant announced on Monday after chairing the first meeting of the new cabinet, comprising him and eight other ministers. In a tweet on Monday evening, Sawant said, […]

GST Council

GST Council may consider raising lowest slab to 8%, rationalise tax slabs

The GST Council in its next meeting may look at raising the lowest tax slab to 8 per cent, from 5 per cent, and prune the exemption list in the Goods and Services Tax regime as it looks to increase revenues and do away with states’ dependence on Centre for compensation, sources said on Sunday. A panel of state finance ministers is […]

Commercial LPG cylinder prices hiked

Commercial LPG cylinder prices hiked by Rs 105, check rates in your city

The prices of 19 kg commercial LPG cylinders have been increased by Rs 105 in Delhi from March 1. Following the price hike, the 19 kg commercial cylinder will cost Rs 2,012 in the national capital from Tuesday. The price of a 5 kg cylinder has also been increased by Rs 27. Now a 5 kg cylinder will cost Rs 569 […]

India signs deals to export

India signs deals to export 4.6 million tonnes sugar in 2021/22, says trade body

Indian mills have signed contracts to export 4.6 million tonnes of sugar in the 2021/22 marketing year without government subsidies, a leading trade body said on Monday. The exports would allow the world’s second-biggest sugar producer to trim stockpiles, though it could weigh on global prices.Mills have already dispatched 3.7 million tonnes since the start of the marketing year on […]

PM Modi arrives in US to attend Quad leaders' summit, address UNGA

PM Modi arrives in US to attend Quad leaders’ summit, address UNGA

By Administrator_India Capital Sands Prime Minister Narendra Modi arrived here on Wednesday on an official visit to the US during which he will hold the first face-to-face meeting with President Joe Biden and his deputy Kamala Harris, attend the maiden in-person Quad summit and address the 76th session of the UN General Assembly in New York. Modi, who is visiting […]