India's sugar exports are likely to decline by 28.57 at around 8 million tonne in the 2022-23 season on expected lower opening balance stock and higher diversion for ethanol. Whether to permit export under an open general licence or the prevailing quota system will be decided after assessing the price situation once the sugarcane crushing operation begins.
The government on Thursday decided to put restrictions on the export of wheat flour to curb rising prices of the commodity. Russia and Ukraine are the major exporters of wheat, accounting for around one-fourth of the global wheat trade. The war between the two countries has led to global wheat supply chain disruptions, thus increasing the demand for Indian wheat. As a result, the price of wheat in the domestic market has increased.
India's strong economic growth offers room for the Reserve Bank of India to raise rates by another 60 basis points as the central bank seeks to stamp out high inflation, DBS Group Research said in a note on Thursday. Favourable base effect after the onset of Delta coronavirus variant last year will additionally lift the year-on-year GDP numbers, Radhika Rao, senior economist at DBS Group Research, wrote in the note.
"The country has built up buffers against cyclical difficulties like those, which we are experiencing right now," S&P Sovereign & International Public Finance Ratings Director Andrew Wood said.
​​In a letter to Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Anurag Jain, the chamber said the loopholes in the current policy are being exploited by online retailers to carry out inventory-based e- commerce/multi-brand retail trade in the garb of running marketplace platforms.
The Bombay HC sought to know from the Airports Authority of India (AAI) if the height restriction for buildings in the vicinity of the proposed Navi Mumbai International Airport has been relaxed. A division bench was hearing a public interest litigation filed by advocate Yashwant Shenoy raising concerns over dangers posed by high rises near the Mumbai airport.
"After 8 years of systemic reforms, the economy has been able to ride out more severe global shocks with macroeconomic stability, a healthy financial sector, food security and a government and industry that have learnt to work together," she told PTI.
The Reserve Bank of India, which has raised interest rates by a total of 140 basis points in three moves this year, has signaled future tightening would be calibrated to ensure there isn’t a massive slowdown in the economy, and sees price pressures moderating from its recent peak.
The government-owned asset reconstruction company (ARC) made the proposal in a recent letter to lenders, they said, adding that the fifth company was Rainbow Papers.