Global food prices surged by 28% in 2021 compared to year before — highest in a decade, according to UN estimates. By May 2022, food prices were 60% higher compared to 2020.
The measures have been imposed to insulate the domestic market from higher international prices. But they could reduce incentives for producers to expand production in the long run.
It has also decided to enhance the fertiliser subsidy for farmers, and reduce import duty on some raw materials. ‘It is always people first for us!’ tweets prime minister.
PM Modi singled out Opposition-ruled states for doing ‘injustice’ to the people by not reducing fuel taxes. He also praised BJP-ruled states for following Centre’s recommendations.
India’s domestic gas production is already tiny & it has shrunk by 40% over past nine years. Keeping that base narrow with unsustainable pricing wasn’t a financially prudent move.
Officials say for fiscal calculations, govt assumes avg price of crude for 12 months, so no need for excise duty cut. Decision on Russia’s offer of crude supply in a few weeks.
Consumers in India have enjoyed artificial respite from rising global prices since 4 November — crude has gone up by almost $14 a barrel — and oil companies need to make up for losses.
There is the fight against authoritarianism, and then there are 'liberal' Muslim women who ar supposed to be allies. Sadly, diluting the debate distracts one from the core issue.
SC set aside resolution plan for Jet Airways, founded by Naresh Goyal in 1992 shortly after India liberalised its economy. A look at timeline of events that led to its permanent grounding.
The Chinese aircraft has uncanny similarities to the American F-35 jet. There are claims that China copied the design. Cyber theft of F-35 design data was reported in 2009.
While we talk much about our military, we don’t put our national wallet where our mouth is. Nobody is saying we should double our defence spending, but current declining trend must be reversed.
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