Earlier this week, the agriculture ministry released the first advance estimates for kharif season of 2022-23 crop year (July-June). As per the government data, rice production is likely to decline by 6 per cent to 104.99 million tonnes in the kharif season this year as against 111.76 million tonnes in kharif season of last year.

Following the monetary tightening across the globe, the dollar rallied to a 20-year high. RBI's action back home to prevent sharp depreciation of the rupee may lead to further fall in reserves, forex market participants said.

The fall in the foreign exchange reserves can be attributed to a fall in the Foreign Currency Assets (FCA), which is a major component of the overall reserves, according to the Weekly Statistical Supplement released by RBI. Foreign currency assets dropped $4.70 billion to $484.90 billion for the same period. Gold reserves fell $458 million to $38.19 billion.

Work for the empanelled agency or agencies would include production of films, documentaries, sponsored AV (audio-visual) programmes, AV spots, and production of short videos. The notice said lack of promotion and publicity of Indian GI products have led to minimum awareness and interest within the young generation thus translating into very limited usage of these goods.

The key question is how deep and prolonged will the downturn be, Ravi Menon, MAS chief, said in a speech at the SuperReturn Asia conference of private equity and venture capital enthusiasts. That depends on how high and persistent inflation is, in which case central banks have no choice but to tighten more and for longer than markets are predicting, he added.

The weighted average rate in the interbank call market, where banks lend and borrow among one another, was at 5.61% on Monday versus 5.17% last Thursday and 5.20% Friday, reflecting a surge of nearly half a percentage point.

Finance minister Nirmala Sitharaman conveyed this to IFC managing director Makhtar Diop at a meeting on Monday.

The SPF is a nationally defined set of basic social security guarantees which secure protection aimed at preventing or alleviating poverty, vulnerability and social exclusion, and includes access to essential healthcare and basic income security.

India has enough wheat stock to take care of its domestic needs and for the public distribution system, said Pandey, adding the country exported just 4.5 million tonnes (mt) of the grain this year. While government data suggests wheat production in the 2021-22 crop year at just under 107 mt, the trade estimates it at 95-98 mt.