The document contains summaries of multiple current news stories:
1) The government will decide by December on a second tranche of Rs 8,800 crore capital infusion for public sector banks to increase lending capacity by Rs 1.85 lakh crore.
2) Metallurgical coke prices are expected to rise to Rs 25,000-26,000 per tonne by December from the current Rs 21,000 due to rising demand.
3) Engineering exports grew 16% in August 2019 to $2.78 billion, with the US and EU accounting for about 65% of total exports.
A SNAPSHOT OF INDIAN AGRICULTURAL SECTORVARUN KESAVAN
Agriculture plays a vital role in India’s economy. Over 58 per cent of the rural households depend on agriculture as their principal means of livelihood. Agriculture, along with fisheries and forestry, is one of the largest contributors to the Gross Domestic Product (GDP). As per the 2nd advised estimates by the Central Statistics Office (CSO), the share of agriculture and allied sectors (including agriculture, livestock, forestry and fishery) is expected to be 17.3 per cent of the Gross Value Added (GVA) during 2016-17 at 2011-12 prices.
India is the largest producer, consumer and exporter of spices and spice products. India's fruit production has grown faster than vegetables, making it the second largest fruit producer in the world. India's horticulture output, is estimated to be 287.3 million tonnes (MT) in 2016-17 after the first advance estimate. It ranks third in farm and agriculture outputs. Agricultural export constitutes 10 per cent of the country’s exports and is the fourth-largest exported principal commodity. The agro industry in India is divided into several sub segments such as canned, dairy, processed, frozen food to fisheries, meat, poultry, and food grains.
The Department of Agriculture and Cooperation under the Ministry of Agriculture is responsible for the development of the agriculture sector in India. It manages several other bodies, such as the National Dairy Development Board (NDDB), to develop other allied agricultural sectors.
A SNAPSHOT OF INDIAN AGRICULTURAL SECTORVARUN KESAVAN
Agriculture plays a vital role in India’s economy. Over 58 per cent of the rural households depend on agriculture as their principal means of livelihood. Agriculture, along with fisheries and forestry, is one of the largest contributors to the Gross Domestic Product (GDP). As per the 2nd advised estimates by the Central Statistics Office (CSO), the share of agriculture and allied sectors (including agriculture, livestock, forestry and fishery) is expected to be 17.3 per cent of the Gross Value Added (GVA) during 2016-17 at 2011-12 prices.
India is the largest producer, consumer and exporter of spices and spice products. India's fruit production has grown faster than vegetables, making it the second largest fruit producer in the world. India's horticulture output, is estimated to be 287.3 million tonnes (MT) in 2016-17 after the first advance estimate. It ranks third in farm and agriculture outputs. Agricultural export constitutes 10 per cent of the country’s exports and is the fourth-largest exported principal commodity. The agro industry in India is divided into several sub segments such as canned, dairy, processed, frozen food to fisheries, meat, poultry, and food grains.
The Department of Agriculture and Cooperation under the Ministry of Agriculture is responsible for the development of the agriculture sector in India. It manages several other bodies, such as the National Dairy Development Board (NDDB), to develop other allied agricultural sectors.
India’s new finance minister, Arun Jaitley, presented his maiden Budget on July 10. Much has been expected from this government, which is widely considered to be pro-industry and reform-friendly.
While the Budget had significant announcement like the raising of foreign investment caps in defense and insurance, as well as a change in income-tax norms, it also set very ambitious growth targets.
Can Jaitley achieve them even as the global economy struggles to get back on track? This is an uphill task and will require more bold and politically tough decisions.
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3. The Union Cabinet has also approved the capital infusion plan, which will help banks increase the lending capacity by Rs 1.85 lakhcrore.
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5. Engineering exports grow 16 per cent in August In August 2009, the engineering exports stood at $2.78 billion The demand from the European markets may pick up in the next two to three months Of the total $32.5 billion engineering exports in 2009-10, the US and EU accounted for about 65 per cent of the shipments. Engineering exports include heavy engineering goods, transport equipment, capital goods, other machinery/equipment and light engineering products like castings, forgings and fasteners.
6. Green norms for SEZs to be announced soon The union government will shortly notify the green SEZ guidelines, standards and rating system to make all SEZs environment friendly SEZsare coming up in over two lakh hectares and huge industrial/commercial and social infrastructure is being built across the country providing an opportunity for green technologies, products and services.
7. Union Budget 2010: Cold-storage incentives to attract fresh funds Incentives to build cold-storage facilities will bring investment, cut food wastage and smoothen the supply chain in the world's second biggest producer of fruits and vegetables Wastage of fruits and vegetables due to poor post-harvest management and lack of cold chain facilities have been estimated to cost up to Rs 500 billion annually External Commercial Borrowings will henceforth be available for cold storage or cold room facility, including for farm level pre-cooling In India, less than 2 per cent of the fruits and vegetables produced are processed as against 65 per cent in the US and 70 per cent in Brazil
8. Global economic recovery is fragile: Pranab The world economy is passing through a lot of uncertainty IMF recently warned that the United States was staring at a sluggish recovery from severe recession in the face of weak consumer spending and high debt. Growth in the world's largest economy slowed to 1.7 per cent in the the second quarter of this year from a 3.7 per cent pace in the first quarter China and India will continue to lead the region's growth. For China and India, we project growth in 2010 at 10.5 per cent and 9.7 per cent respectively
9. Prices of essentials rose 18 per cent in one year: Assocham Prices of commodities like condiments and spices, eggs, fish, meat, tea, wheat, pulses and coffee rose by 18 per cent in the one year between August 2009 and 2010 The prices of condiments witnessed extremely high volatility - 40 per cent - between August 2009 and August 2010 In the same period, the per capita income of an average Indian rose by 10.4 per cent - Rs 4,404 - from Rs 40,141 in August 2009 Prices of eggs, fish and meat also rose over 27 per cent, milk prices increased by 26 per cent. Prices of tea increased by 11 per cent, while meat prices have increased by 10 per cent. Coffee prices increased by over seven percent during the period. This is because of the anticipated tight supplies that would be just enough to satisfy the growing demand.