Winter rainfall is crucial for key rabi crops like wheat, chana and mustard. El Nino, an ocean-warming weather pattern that occurs every 2 to 7 years, was expected to impact the monsoon rainfall in the second half of this season. However, now it looks like El Nino forming earlier than initially expected.
India is firm on its red lines on cross-border data flows as there is no ecommerce policy at present, while any commitments on data exclusivity and patent extensions would impact the manufacturing and distribution of generic medicines, officials said.
Deputy Governor Jain was looking after departments of Co-ordination, Central Security Cell, Consumer Education and Protection Department, Department of Supervision, Financial Inclusion and Development Department, and Human Resource Management.
Amazon Inc on Wednesday said customers in India can use their 2,000 rupee notes and get it credited to their Amazon Pay balances. As per the notification issued by the RBI, the Rs 2,000 note is being taken out of circulation in pursuance of the clean note policy. The central bank has asked people to exchange or deposit the Rs 2,000 note in banks by September 30, 2023.
Modi govt has been forced to re-look at the current pension system (known as the new pension system or NPS), adopted after a significant fiscal reform in 2004, as some states switched back to the older system (OPS), fiscally straining system of fully funding a guaranteed pension.
Wheat procurement has reached 26.2 million tonnes so far in the 2023-24 rabi marketing year (April-March), more than the last year's total procurement of 18.8 million tonnes. "With the current procurement of wheat and rice, adequate food grains stock in government granaries is maintained," the ministry said in a statement.
The needle on a dial measuring the so-called Animal Spirits stayed at six for a second month even as some indicators such as exports and tax collections showed signs of weakness. While four of the eight high-frequency indicators compiled by Bloomberg showed improvement, three worsened slightly and one was little changed.
Indian-American Congressman Ro Khanna has said that American businesses are eyeing India as a location to diversify their supply chains at the inaugural INDUS-X conference. Khanna said that India and the US have the potential to cooperate on technology, innovation, climate, critical research, and a manufacturing renaissance. He also noted the popularity of Prime Minister Narendra Modi, saying that his visit is the hottest ticket in town.
R V Anuradha, Partner, Clarus Law Associates recounted that the WTO system, although an imperfect bargain, remains unique given the enforceability of its rules. She noted that the world has come too far ahead in terms of economic interdependence, and there is somewhere a realisation of the need for minimum cooperation between countries in order to maintain the global economic system.