Food Financial News

food and fertilizer subsidies for the next fiscal year, indicating fiscal caution ahead of 2024 Lok Sabha elections, said two government sources as quoted by Reuters. During the current fiscal year, which concludes on March 31, India's total budget spending is 45 trillion rupees, of which approximately one-ninth comes from subsidies on food and fertiliser. They said the Ministry of Consumer Affairs, Food and Public Distribution has projected that the cost of food subsidies in 2019 will be 2.2 trillion rupees ($26.52 billion).

SoftBank has fully exited PB Fintech, the parent of insurance marketplace PolicyBazaar, according to people aware of the matter. SoftBank had invested close to $200 million in PB Fintech and sold its remaining stake in a mid-December transaction for about Rs 914 crore (or $109 million). In total, SoftBank has made around $650 million in returns on its total investment in the Gurgaon-based insurance aggregator. In December, SoftBank also made an exit from Zomato. It picked up a stake in the company when the food delivery platform acquired Blinkit (formerly Grofers) in 2022 in an all-stock deal.

Kishore Jayaraman, president, Rolls-Royce, India & South Asia, believes in approaching things mindfully – be it his diet, downtime on the greens or work-life balance. In conversation with ET Panache, Jayaraman talks about why he thinks of work-life balance as a balloon and how he’s trained his mind to stay calm when faced with setbacks.

insurance cover under its flagship Ayushman Bharat health scheme to Rs 10 lakh to ensure that serious diseases like cancer and transplants that entail more expenditure are supported by it, official sources said on Wednesday. An announcement to this effect is likely to be made in the interim Union Budget on February 1, the sources told PTI. The Union health ministry is also planning to double the beneficiaries to 100 crore under the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY) to include Kisan Samman Nidhi recipients, construction workers, non-coal mine workers and ASHA workers in the next three years. «In order to ensure that serious illnesses requiring expenditure of more than Rs 5 lakh such as transplants and high-cost cancer treatments etc. are also covered under AB PMJAY, the ministry is working on finalising a proposal to increase the cover amount from Rs 5 lakh per family per year to Rs 10 lakh per family per year from 2023-24 onwards,» the sources said. The increase in coverage to Rs 10 lakh per family per year and increase in beneficiary base to 100 crore individuals will involve an additional allocation of Rs 12,076 crore per annum, the sources stated.

Business Today. “There is no such thinking to move towards de-dollarisation... The dollar will continue to be the dominant currency", Shaktikanta Das added.

₹100 per equity share with a face value of ₹10. The initial public offering (IPO) will open for subscription on January 18 (Thursday) and close on January 22 (Monday). Through the issue, the company aims to raise ₹19.64 crore via the issuance of 19.64 lakh fresh equity shares.

budget is a financial statement which carries niche terminology common people may not fully be familiar with. Without understanding these terms, the budget can be difficult to comprehend or evaluate. Below are the key budget terms that are crucial for understanding the budget. Read our full Budget 2024 coverage here Fiscal deficit When the government's receipts fall short of its entire expenditure, it has to borrow money from the public to meet the shortfall. Borrowings not only increase debt burden but also add to the interest the government has to pay every year on its debt. Fiscal deficits are unmanageable beyond an extent. The government had aimed in FY 2017 to reduce the fiscal deficit to 2.5% of the GDP. However, the pandemic disrupted that. The fiscal deficit for the current year is pegged at 5.9% and is likely to be lower next year. Primary deficit The revenue expenditure includes interest payments on government's earlier borrowings. The primary deficit is the fiscal deficit less interest payments. A shrinking primary deficit indicates progress towards fiscal health. The Budget document also mentions deficit as a percentage of GDP. This is to facilitate comparison and also get a proper perspective. Prudent fiscal management requires that the government does not borrow to consume in the normal course.

Maharashtra and Karnataka states, a leading industry body said on Wednesday. Maharashtra's sugar production fell to 5.1 million tons from 6.09 million tons, while Karnataka's production dropped 12.7% to 3.1 million tons, the National Federation of Cooperative Sugar Factories said in a statement. Production in the northern state of Uttar Pradesh rose 14.8% to 4.61 million tons as mills started operations early there, it said. India has decided to allow mills to divert up to 1.7 million tons of sugar for ethanol production, government and industry officials said last month, as New Delhi aims to reduce disruptions in its ambitious biofuel programme. With Prime Minister Narendra Modi set to face elections in a few months, India, which is highly sensitive to food inflation, is likely to ban sugar exports, the first restriction on exports since 2016.

Jubilant Foodworks Ltd. traded 0.99 per cent up at Rs 535.45 at around 01:22PM (IST) on Wednesday. The stock had closed at Rs 530.2 in the previous session.

LONDON — U.K. inflation unexpectedly nudged upwards to 4% year-on-year in December, fueled by a rise in alcohol and tobacco prices.

co-passenger has shared his first-hand account on the incident in a tweet on X. He wrote, “A series of news articles have covered the recent assault on an Indigo Flight 6E2175 pilot on Jan 14. As a co-passenger, I feel compelled to share my first-hand account of the incident." He further clarified that its he does not support violence, however, he added that he intend to share my experience and shed light on the events not support violence.

Budget 2024: The coming Budget, despite being an interim budget owing to the upcoming national elections, has generated significant interest among economy watchers in view of the government's new stated ambition of making India the third largest economy by 2030. Another reason this budget will be keenly watched is the sudden uncertainty in global trade because of the unfolding Red Sea crisis. While the short- to medium-term prospects for the Indian economy continue to be relatively bright as the inflation outlook remains benign and major potential headwinds appear far-off, some impact of the Red Sea crisis on India's foreign trade is already evident. That brings the coming interim budget into a bit of a sharper focus. As regards economic policy, Modi govt's recent path appears to have been quite consistent so far, at least in the past few budgets. Despite the abovementioned unanticipated speed bump, this consistent policy path is likely to be adhered to this time as well, economists say. So, for those who are keen to find out what this budget might bring, it might be instructive to take a relook at what FM Nirmala Sitharaman had announced in the last budget. Here follows a detailed sector-wise look at last year's budget announcements:

Budget expectations: India may earmark about 4 trillion rupees ($48 billion) for food and fertiliser subsidies for the next fiscal year, two government sources said, indicating fiscal caution ahead of this year's general election. Food and fertiliser subsidies account for about one-ninth of India's total budget spending of 45 trillion rupees during the current fiscal year that ends on March 31. Also Read: Interim Budget 2024 may see modest expenditure hike as Centre looks to stay on fiscal glide path The Ministry of Consumer Affairs, Food and Public Distribution has estimated next year's food subsidy bill at 2.2 trillion rupees ($26.52 billion), the two sources said. That is 10% higher than a projected outlay of nearly 2 trillion rupees ($24.11 billion) for the current 2023-24 fiscal year.

Tata Chemicals into Tata Global Beverages to form Tata Consumer Products. In came Tata Salt (the largest salt brand in India) to sit alongside Tata Tea (second-largest tea brand in India), Tetley (third-largest tea brand in the UK and the largest in Canada), and others. In 2021, the company acquired food brands Soulfull and Tata Q.

Loblaw confirmed that it’s no longer offering discounts of up to 50 per cent on items nearing expiry.It’s a move that the Canadian Association of Retired Persons (CARP) is surprised and disappointed by.“It is a major increase for some people. It really hurts them.

Bank of India (RBI) Governor Shaktikanta Das said Tuesday, just days after the US capitalmarkets regulator approved bitcoin exchange traded funds. “They (the US Securities and Exchange Commission) are the best judge of what is good for their country, so they have done it. I would not like to comment on what another regulator in another country has done,” Das said at the World Economic Forum at Davos.

Uber is shutting down alcohol delivery app Drizly, the company confirmed this week, just under three years after acquiring the platform for $1.1 billion

Student and legal advocacy groups are petitioning the U.S. Department of Agriculture to lift the interview requirement for Supplemental Nutrition Assistance Program applicants to receive food aid

Mint. The move aims to integrate godowns built at the Primary Agricultural Credit Society (PACS) level with the national food grain supply chain, providing essential market linkages for PACS. DoCA will permit NCCF to utilize its warehouses for storing various commodities like pulses, oilseeds, onions, and grains under various government schemes like the Price Support Scheme (PSS) and Price Stabilisation Fund (PSF).

mandis, the company informed in a media release. «Aimed at facilitating farmers, traders, FPOs as well as corporate entities involved in quality check of the food grains. a total of 31 centreshave been opened in the initial phase across Delhi and Madhya Pradesh.

OTTAWA (Reuters) — Canada's annual inflation rate rose to 3.4% in December from 3.1% in November, data showed on Tuesday, a sign of stubborn inflation ahead of next week's interest rate decision.