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Business Today has compiled list of commodities, including cereals, pulses, petrol and petroleum products and other precious metals to understand how purchasing power of Indians have reduced with the rise in inflation.
“Be it in agriculture production or appointment of people of all castes as Archakas, the decisions were taken with a vision that led to the success,” the CM stated
A central government committee has approved a policy on restricting exports of wheat flour, a move that could bring down prices of the commodity in the domestic market.
The decision will benefit around 5 crore sugarcane farmers and their dependents, as well as about 5 lakh workers employed in sugar mills and related ancillary activities.
The RBI has been blaming the Russian invasion of Ukraine and the consequent surge in commodity prices for a bulk of the surge in inflation, which has consistently breached the upper end of the tolerance band set for it by the government.
As per the survey, major risks to India's economic recovery include rising commodity prices, supply-side disruptions, bleak global growth prospects with the conflict prolonging in Europe.
With inflation remaining high, Puri says, ITC’s margin expansion targets could be hit in the short-term.
The ministry said that it had a target of $23.56 billion for 2022-23 for agricultural and processed food products under APEDA, out of which, 25.4 per cent have been achieved in the first three months.
"We have started commercial production this month after conducting trials for the last three years," Srikanth Srinivasan, Head of Sales and Marketing at General Aeronautics, told.
India has 49.4 crore acres of agriculture land, highest after the US. If the entire farm land is irrigated, India can feed the whole world, Cooperation Minister Amit Shah added.
Farmers planted summer-sown crops on 59.2 million hectares, as of July 15, slightly higher than 59.1 million hectares a year ago, according to the Ministry of Agriculture & Farmers' Welfare. Crop sowing was down 9.3% until last week.
The real purchasing power in the rural sector is set to rise. Terms of trade (ToT) for agricultural commodities have turned positive since March.