SUBSIDISED PRODUCT
‘It is beyond belief we’re still subsidising the cause of the climate crisis — we need greater subsidies for renewables over fossil fuels now’
"I think the CBAM, to the extent that it does result in significant revenue from tariffs, should recycle some of those funds in lump sum forms to help countries clean up their production processes and adapt to climate change," says Cameron Hepburn, Battcock Professor of Environmental Economics at the Smith School of Enterprise and the Environment, Oxford University.
India, one of the largest importers of urea, plans to be self-sufficient by 2025. Is it feasible?
A closer look at India’s strategy to end urea imports by 2025 shows gaps that need to be filled before shutting the import tap.
Volvo shifting EV production to Belgium to avoid China tariffs
Volvo, which is majority-owned by China's Geely, was considering halting sales of Chinese-built EVs bound for Europe if tariffs were introduced, the newspaper said, citing company insiders. However, the report added that shifting production of Volvo's EX30 and EX90 models from China to Belgium is expected to negate the need for the company to do so and that the company insisted suspending sales of EVs made in China was no longer being considered.
‘We are seeing a global blue revolution in food, transport and energy now — booming coastal real estate is a true paradox of climate change’
Martin Smith, the George M. Woodwell Distinguished Professor of Environmental Economics at Duke University, discusses ocean economics with Srijana Mitra Das.
IMF revises China's GDP to 5% this year; growth may decelerate to 3.3 per cent by 2029, says Gita Gopinath
The 5 per cent growth revision by the International Monetary Fund (IMF) is in line with the target set by the Chinese government for the world's second-largest economy which is grappling with a slowdown triggered by the crippling property sector crisis and industrial overcapacity.
How China pulled so far ahead on industrial policy
The problem for the West, though, is that China's industrial dominance is underpinned by decades of experience using the power of a one-party state to pull all the levers of government and banking, while encouraging frenetic competition among private companies.
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No proposal to resume sale of subsidised rice for ethanol production: Food secretary
Government remains firm on not resuming subsidised rice sale for ethanol. Chopra encourages maize ethanol production and highlights the impact on distillery investments. Increased sugarcane FRP aims to boost cultivation for the upcoming season.
No proposal to resume sale of subsidised rice for ethanol production: Food Secy
The rice sale for ethanol makers was discontinued for various reasons, including apprehensions about domestic output and high retail prices, and economic unviability, he said. On the impact on investments on grain-based distilleries, Chopra said, "This is not a policy which is cast in stone. This policy will be renewed... Maize is being encouraged for ethanol production."
Power demand to grow 8-9% in India, capacity will grow, but cost will fall from 2030: Praveer Sinha, Tata Power
Praveer Sinha discusses challenges in the power sector, emphasizing the upcoming reduction in power costs by 2027-2030. He underscores the crucial role of battery storage in the transition to clean energy for reliable 24x7 power availability. Sinha says energy transition is a big thing because it is the need of the hour with concerns about climate change and sustainability.
Centre announces new scheme to subsidise electric two and three wheelers
The centre on Wednesday announced a new scheme to promote sale of electric two and three wheelers. According to Heavy Industries Minister Mahendra Nath Pandey, Rs 500 crore is being allocated for the Electric Mobility Promotion Scheme (EMPS), 2024. This scheme is valid for four months from April 1 onwards.
'Centre plans to procure five lakh tonnes of onions this year for buffer stock'
The government's plan to create buffer stock comes amid an estimated fall in onion output in 2023-24. "Production of onion in 2023-24 is expected to be around 254.73 lakh tonnes compared to around 302.08 lakh tonnes last year due to a decrease of 34.31 lakh tonnes in Maharashtra, 9.95 lakh tonnes in Karnataka, 3.54 lakh tonnes in Andhra Pradesh and 3.12 lakh tonnes in Rajasthan," the agriculture ministry said in a statement on Thursday.
Onion production to decline in 2023-24: First Advance Estimate
The production of the politically sensitive kitchen staple, onions in the country during the year 2023-24 (July-June)is expected to drop to around 25. 473 million tonnes compared to around 30.208 million tonnes last year due to a lower yield in key producing states of Maharashtra, Karnataka, Andhra Pradesh and Rajasthan, according to First Advance Estimate for the year released by the agriculture ministry on Thursday.
Tata, Mahindra, and Ola eye double benefit of Auto PLI and FAME with early approvals
Tata Motors, Mahindra, and Ola Electric are set to benefit from the government's PLI program and FAME-II scheme. These companies have received DVA certificates and can claim PLI sops for eligible sales of certain vehicle models until March 2024.
Govt plans to feed poll campaign with its Bharat staples
The government is promoting its Bharat staples brand by selling atta, rice, and pulses at subsidised rates. These products are available on ecommerce platforms like ONDC, ensuring accessibility and affordability for consumers. The three agencies - Kendriya Bhandar, National Agricultural Cooperative Marketing Federation of India (NAFED) and National Cooperative Consumers' Federation of India (NCCF) - through which the Bharat products are sold have been asked to sell 300,000-400,000 metric tonnes of rice and atta every month.
What is Bharat rice? Check price list and where to buy
Bharat rice: The government plans to introduce 'Bharat rice' on Tuesday at a subsidized rate of Rs 29 per kg, aiming to alleviate the impact of a 15% increase in retail rice prices over the past year. The subsidized rice will be sold in 5 kg and 10 kg packs, with Food Minister Piyush Goyal launching the product in the national capital.
Govt to launch Bharat rice at Rs 29/kg on Tuesday to provide relief to consumers
Food Minister Piyush Goyal is scheduled to launch Bharat rice at Kartavya path in the national capital, an official release said. The Food Corporation of India (FCI) will provide 5 lakh tonne of rice to two cooperatives the National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) and National Cooperative Consumers' Federation of India (NCCF) as well as retail chain Kendriya Bhandar in the first phase. These agencies will further pack the rice in 5 kg and 10 kg and retail through their outlets under the "Bharat" brand. The rice will also be sold through e-commerce platforms.
Electricity use in agriculture sector jumps to 37.1 per cent since 2009-10
Both direct (electricity and fuel) and indirect (nitrogenous and phosphorus fertilisers, and pesticides) energy use in Indian agriculture have increased over the years. Indirect use of energy in the form of fertilisers contributed 68.4 per cent in 2009-10 but reduced to 60.61 per cent in 2019-20. Electricity consumption in agriculture is increasing, driven by higher irrigation demand for new crop varieties and subsidised electricity provided to the sector.
Bharat brand of products: Franchise route for govt retail stores on the cards
Last month the government opened its first two stores at Delhi's Rajiv Chowk metro station, to tap into the high footfall it receives. These are owned by the National Cooperative Consumers' Federation of India (NCCF), which procures agricultural commodities like food grains, pulses, spices, oil seeds, onions and other consumer goods on behalf of the government and sells to consumers at reasonable rates.
Duty concessions on petrochemical products a sticking point in India-Oman FTA talks
The proposed free-trade agreement (FTA), Comprehensive Economic Partnership Agreement (CEPA), between India and Oman faces potential challenges due to demands for customs duty concessions on petrochemical products like polypropylene and polyethylene. Certain domestic players oppose these duty concessions, citing Oman's significant subsidies on raw materials for petrochemical production.
US plans $162 million award to Microchip Technology to boost production
The funds will allow Microchip to triple production of mature-node semiconductor chips and microcontroller units at two US factories, officials said.
The year when the Make-in-India lion started roaring: Top 10 ventures
In 2023, India showcased significant potential in its pursuit of becoming a manufacturing powerhouse, with numerous large-scale projects either in the planning stages or already underway. The Production-Linked Incentive (PLI) scheme, covering 14 sectors, proved to be a catalyst, attracting investments exceeding Rs 95,000 crore by September. Here are some noteworthy milestones in India's pursuit of local manufacturing in 2023, particularly in the cutting-edge fields of chips and telecommunications.
Twenty companies begin operations from Delhi-Mumbai Industrial Corridor cities
National Industrial Corridor Development Corporation (NICDC) managing director Rajat Kumar Saini said the four industrial smart cities are coming up on 2,500-3,000 acres of industrial land. He said 65% of the land is occupied where 274 companies have set up or are in the process of setting up their units. The four cities are Dholera (Gujarat), Greater Noida (UP), Vikram Udyogpuri (MP) and Shendra-Bidkin (Maharashtra).
EV four wheeler production outpaces last year’s output
The Heavy Industries Ministry has also sanctioned 6862 electric buses to various state government entities for intra-city operations. Out of 6862 e-buses, 3487 e-buses have been supplied till November-end with grant worth Rs 1248 crore released, Gurjar added.
India criticises safeguard measures on import of certain steel products by EU, UK in WTO meet
Several countries, including India, Switzerland, Russia, and Japan, have criticized the EU and the UK for their safeguard measures on steel imports, stating that they are inconsistent with global trade rules. The countries, speaking at the World Trade Organisation's Safeguards Committee meeting, argued that the measures violated WTO rules.
Govt to promote local EV production; move to boost employment generation
The Department for Promotion of Industry and Internal Trade (DPIIT), which operates under the aegis of the ministry of commerce & industry, has commenced discussions to put in place a scheme for subsidising electric four-wheeler makers linked to investments made by these companies for producing vehicles in the country, senior officials in the know told ET.
Union Cabinet approves Rs 13,000-cr 'PM Vishwakarma' Yojana; craftsmen to get subsidised loans up to Rs 2 lakh
The Union Cabinet on Wednesday approved 'PM Vishwakarma' scheme to support traditional artisans and craftspeople of rural and urban India.
How to get tomatoes at Rs 90/kg in Delhi-NCR from today. Details here
India's National Cooperative Consumers' Federation (NCCF) has announced that it will sell tomatoes at a deep discounted rate of Rs 90 per kg in Delhi and the surrounding National Capital Region. The move comes in response to soaring tomato prices, which have seen costs hit as much as Rs 224 per kg.
Govt brings down subsidised rate of tomato to Rs 80/kg
The Union government on Sunday reduced subsidised rate of tomato to Rs 80/kg from Rs 90/kg with immediate effect in Delhi-NCR, other locations, a press release stated.
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