The government has intensified its efforts to check onion prices by stepping up the sale of buffer stock in wholesale markets, following a spike in retail prices after the recent removal of export duty. Consumer affairs secretary Nidhi Khare on Monday said the Centre has begun offloading onions from its buffer stock in wholesale markets of Delhi and other key cities, with plans to expand subsidised retail sales nationwide. “We anticipated a price surge after lifting the export duty.
Posts tagged Rediff
Unemployment rate remains unchanged at 3.2% in 2023-24 (23-09-2024)
Unemployment rate for persons aged 15 years and above has remained unchanged at 3.2 per cent in July 2023 to June 2024, according to the labour force survey annual report released on Monday. The unemployment rate (UR) is defined as the percentage of persons unemployed among the persons in the labour force. The report stated that while the UR for male has shown a marginal decline from 3.3 per cent during July 2022 – June 2023 to 3.2 per per cent during July 2023 – June 2024, among female it has increased from 2.9 per cent to 3.2 per cent during the same time span.
India’s biggest oil, gas bid round gets 4 bidders (23-09-2024)
India’s biggest oil and gas bid round attracted four bidders that included state-owned ONGC and OIL and private sector Vedanta Ltd, with most blocks getting just two bids, according to Directorate General of Hydrocarbons (DGH). The OALP-IX bid round, where 28 blocks or areas spread over 1.36 lakh square kilometre were offered for finding and producing oil and gas, for the first time saw Reliance Industries Ltd-bp plc combine bidding together with ONGC for one block in Gujarat offshore.
Vivad Se Vishwas 2.0 to ease litigation woes (23-09-2024)
The Union finance ministry on Thursday notified the Direct Tax Vivad Se Vishwas Scheme, 2024, which will come into effect on October 1. This scheme will allow taxpayers to settle appeals, writ petitions, and special leave petitions pending in the Supreme Court, high courts, and appellate tribunals before the cutoff date of July 22. Though the scheme’s operational date has been announced, the final date for the scheme is yet to be determined.
No. of people averse to govt surveys rises over 2x (23-09-2024)
The number of people averse to the surveys by the National Statistical Office (NSO) has more than doubled over the last five years between the 75th National Sample Survey (NSS) round (July 2017- June 2018) and the 79th NSS round (July 2022-June 2023), the Ministry of Statistics and Programme Implementation MoSPI) said on Friday in a conference organised to discuss the issue of ‘non- responsiveness’ to its sample surveys. The ministry said that nearly 6.9 per cent people in urban areas surveyed by the NSO for the 79th NSS round did not participate in the exercise, while the number of people in rural India that refused to participate in these surveys stood at 3.9 per cent.
Sensex only a whisker away from hitting 85,000 (23-09-2024)
From the 30 Sensex firms, Mahindra and Mahindra, State Bank of India, Bharti Airtel, Hindustan Unilever, Kotak Mahindra Bank, UltraTech Cement, Adani Ports, and Tata Steel were the biggest gainers. ICICI Bank, IndusInd Bank, Asian Paints, Tech Mahindra, Infosys, HCL Technologies, Tata Consultancy Services, and Larsen and Toubro were among the laggards.
MTR owner eyes IPO in 2025 (23-09-2024)
The Indian arm of the Norwegian investment company Orkla ASA, which owns spice brands like MTR and Eastern, is exploring the possibility of launching an initial public offering (IPO) in 2025, said a top company executive. “The ASA board just cleared the proposal. “We had done a pre-IPO study last year to understand what we need to do and based on that the board said, ‘okay, let’s go ahead and explore capital markets’,” Sanjay Sharma, CEO, Orkla India, told Business Standard.
BSNL is the surprise winner of July tariff battle (23-09-2024)
After continuously bleeding subscribers for nearly two years, state-owned telecom services provider BSNL added 2.9 million users in July when its private-sector rivals raised tariffs by nearly 20 per cent. With BSNL keeping tariffs unchanged, many subscribers using entry-level plans shifted from Reliance Jio, Bharti Airtel, and Vodafone Idea (Vi), said analysts.
Modi urges tech CEOs to be part of India growth story (23-09-2024)
Prime Minister Narendra Modi urged CEOs of US majors to take advantage of India’s growth story as the country is making all efforts to become the third largest economy of the world in his third term. India is currently the fifth largest economy of the world after the US, China, Germany and Japan with a GDP of around $3.9 trillion. India has been the fastest growing large economies of the world with GDP growth rate of over 7 per cent for the last three consecutive years.
D2C brands hitch their wagon to quick-commerce (23-09-2024)
As quick commerce gains ground, emerging direct-to-consumer (D2C) brands are betting big on digital channels to drive growth. According to Aman Gupta, co-founder of wearables brand BoAt, new-age brands in India have been expanding at a much faster pace than expected, driven by digital channels like quick-commerce. “Investors doubted the potential of D2C brands when we started, but today there are multiple brands in the startup market that are growing on the shoulders of these digital channels,” Gupta said while addressing a session at Razorpay’s D2C and Retail Summit recently.