Pawar: Food wastage because of lack of provisions for storage
May 8: Agriculture and Food Minister Sharad Pawar revealed on Saturday that scarcity of ample or correct provisions for storage was leading to rotting of food grains.
Pawar made this observation while speaking at a function in Mumbai while saying, "The condition of the godowns in the country is not good and that is resulting in the rotting of food grains."
The government has admitted that the country squanders Rs 58,000 crore value of food stuff annually because of scarcity of or weak provisions for storage.
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Sugar cane FRP Rs 139.12 for every quintal
April 24: The government has augmented the fair and remunerative price, FRP of sugar cane by seven per cent and set it at 139.12 rupees for each quintal for the 2010-11 season of sugar.
A resolution concerning this was adopted by the Cabinet Committee on Economic Affairs in New Delhi on Friday morning. The FRP of sugarcane for the previous year 2009-10 was 129.48 rupees for each quintal.
FRP is the lowest cost the sugarcane cultivators are lawfully assured. The sugar mills have the freedom to propose any cost over the FRP. The FRP for 2010-11 season of sugar is connected to a basic recovery charge of 9.5 per cent conditional on a premium of Rs. 1.46 for every 0.1 percentage point augmentation in recovery over the basic charge.
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Sensex attains 120 points; Nifty gets back to 5,300-level
April 23: The Bombay Stock Exchange yardstick Sensex widened profits for the fourth consecutive day on Friday expanding by 120 points on anticipations of superior quarterly earnings, chiefly by key player of the market RIL, and strengthening of worldwide cues.
The Sensex attained 120.21 points to conclude at 17,694.20 points while the barometer had acquired 173.31 points in the previous three business sessions.
Agents revealed that market continued on a buoyant sentiment prior to the quarterly results by Reliance Industries following the trading hours on Friday. RIL concluded at a greater point of 1.10 per cent. Wipro the IT giants as well proclaimed alluring quarter earnings as well as a bonus issue.
The National Stock Exchange index Nifty got back to the psychological 5,300-stage by appending 34.75 points to 5,304.10. Of the 30-index stocks, 15 concluded with profits. Banking stocks wooed enhanced purchases on expectations of boom in lending augmentation.
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Mamata rebuts allegations of wagon scarcity
April 23: Railway Minister Mamata Banerjee on Friday affirmed that Coal India Ltd (CIL) had not properly utilized each of the railway wagon offered for transferring coal to power units, rebutting an accusation that 1,500 MW of electricity could not be produced because of a shortage of rakes.
"That is absolutely wrong," she asserted when T K Rangarajan (CPI-M) wanted to know from the Railway Minister if Railways had on a regular basis furnished 157 lakh rakes daily against a requirement for 166.5 lakh rakes everyday by CIL on account of which 2000 tonnes of coal could not be transferred.
Responding to supplementaries at Question Hour in the Rajya Sabha, she revealed that CIL had been provided with 12,036 wagons in 2009-10 of which the firm owned by the state requested for 10,602 wagons. But out of these, it utilized just 9,254 wagons for genuine transport of coal.
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RBI Governor Calls on Finance Minister
April 17: Prior to the yearly fiscal policy convention on 20th April, Reserve Bank Governor D Subbarao on Friday took part in talks with Finance Minister Pranab Mukherjee and deliberated on the macro-economic condition of the nation.
Addressing the media in New Delhi on Friday Subbarao observed,” I have come to review the macro-economic situation with the Finance Minister as is customary. You will know our policy action when we do the review on Tuesday, April 20."
RBI will publicize the yearly fiscal strategy for 2010-11 among worry over price rises, which augmented to 9.9 percent in March, extremely near the psychological double-digit stage.
The food price rises is approximately 17 percent and there are concerns that it could spread out to the non-food sector. The wholesale cost-oriented price rises at 9.9 percent was much over the RBI's year-end forecast of 8.5 percent. Others who also attended the appraisal convention were the Finance Secretary Ashok Chawla as well as Chief Economic Adviser Kaushik Basu.
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