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The prospect of economic losses due to climate change will be a new challenge for banks

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- Financial institutions need to change their business strategies in view of the effects of global warming

The impact of climate change on human life as well as the financial impact is beginning to be seen. The effects of climate change are being felt around the world, such as floods, hurricanes, earthquakes, torrential rains, and extreme heat. These natural effects are causing extensive damage to economic resources worldwide. In the recent past, India has been witnessing severe floods and hurricanes every year, ranging from unseasonal rains. These disasters are also causing huge damage to property.

Speaking of India, the country's policy makers are still slow in taking steps to protect against climate change. Not only that, but India's banks do not seem to be as prepared as they should be to cope with the economic effects of climate change. A recent report notes that few banks are considering how to protect their trading strategies from damage caused by climate change.

A recent report by the Intergovernmental Panel on Climate Change (IPCC) states that the proposed sea level rise poses serious economic risks to India. It also warned that floods, heatwave, manpower shortages, crop losses and water shortages would have serious economic implications. The World Bank estimates that climate change will hit India's gross domestic product (GDP) by 5.50% per annum by 2020. The far-reaching consequences of climate change on the Indian economy can be seen.

Natural disasters caused by global warming are emerging as a new threat to the country's economy, especially to financial institutions like banks. According to a recent report, the number of hurricanes in Gujarat has tripled in the last fifty years. Is also being given.

The onslaught of hurricanes in India seems to be creating a tense situation for the government in the exercise of reviving the banks. Given the aggressive measures taken by the government and the Reserve Bank over the last few years to get the country's banks out of the problem of non-performing assets (NPAs), everyone in the country hoped that the condition of banks would improve and banks would be profitable. There are indications that disasters will continue to be a challenge for banks.

As earthquakes are becoming more common in Japan, there is no question that disasters like hurricanes, which often hit our country, do not happen regularly. Apart from hurricanes, it is rare to know the exact amount that banks have to bear as a result of property damage due to flood conditions. In addition to banks, insurance companies are also facing the challenge of financial burden.

Given this fact, banks will be forced to disburse loans more effectively and insurers will be more efficient in providing insurance cover. In the current climate of climate change, banks are increasingly choosing to lend to areas that are resilient to the weather. It is becoming increasingly risky for banks to lend to sensitive sectors that may be affected by climate change.

Due to modern technology, it has become possible to predict the intensity of hurricanes in the country in recent years. Based on this information, great damage to human life can be prevented but damage to agricultural livestock and goods cannot be prevented. In such a scenario, banks now need to assess how much weather risks can affect their business.

Today the whole world is fighting against polluting industries and every country is tightening the standards against it. Regulatory authorities impose heavy fines on polluting industries and even such industries run the risk of being shut down if they do not show discipline.

Banks and insurers are now required to assess the risks associated with climate change, as well as the risks faced by the insurers and the lenders when approving loans, as well as the trade risks of the borrower company while providing insurance cover. Is. Banks need to keep an eye on the effects of global warming around the world to help mitigate the risks and protect them from the financial impact of climate change.

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#The prospect of economic losses due to climate change will be a new challenge for banks

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Increased volatility in the global economy after the epidemic

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- Its global consolidated benchmark for total returns on global and corporate debt fell 11 percent from its peak in early 2021

The global economy has just begun to emerge from various shocks facing three new challenges in just two years surrounded by the Covid-12 epidemic. The first challenge is the impact of the Russian invasion of Ukraine. Russia is a major supplier of oil and gas and a member of OPEC Plus. Both countries are also important producers of wheat. Wheat is essential for food security in many countries. Another challenge is the sanctions imposed on Russia by this aggression which will keep Russia away from many of the physical and financial chains of globalization. The third challenge is the impact of the epidemic on China. China is witnessing an outbreak of the highly contagious form of the virus, Omicron, and a phased tight lockdown is being imposed in major global manufacturing hubs and the coastal city of Shanghai to stem the spread of the virus. The turmoil in the global supply chain came at a time when manufacturing and trade were already under pressure. This has increased inflationary pressures in countries around the world, and government financial resources have already been spent to maintain production and public welfare during the epidemic.

The impact of these events has been profound and can be compared to the 2008 financial crisis. Certainly, the bond market is witnessing a decline which is unprecedented in modern times. According to Bloomberg, its global consolidated benchmark for total returns on global and corporate debt fell 11 percent from its peak in early 2021. This is more than the 10.3 per cent decline in the financial crisis.

The move in the bond market has caused a loss of 3 trillion in assets. Certainly, worries about future growth and inflation and the Western governments' response to their central banks in their U.S. With the intention of separating it from the reserves in the Treasury, it seems that investing in the US is not good and safe enough at this time. Even investors have come to the conclusion that the big central banks will raise interest rates faster than expected. The cost of living is an important political issue in many countries and is important from a central banker's perspective to respond spontaneously to inflationary pressures.

The big question is whether the world is heading for a recession, of course, the general response to a significant supply shock would be stagflation. It is unknown at this time what he will do after leaving the post. Supply disruptions due to lockdowns in China will shock supply as there is a recession.

It can be said that central banks understand stagflation better today than they did in the 150's. They may even feel that they no longer have the tools to do so. So it is easy to understand why investors are cautious. For India, there may be a wide range of food concerns and external sensitivities. The Reserve Bank will have to ensure that it moves forward in coordination with other major central banks to address the new macroeconomic instability.

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#Increased volatility in the global economy after the epidemic

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Detailed information about food additives

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- Industrial Guidance: Dhiru Parekh

Isoamyl Acetate: - Cinnam: Isopentyl Acetar, Emile Acetic Easter, which has pear oil and banana oil type orders.

Properties: - Liquid with colorless, natural pear type of smell and taste. Dissolves about 200 parts in water. Can be mixed with alcohol, ethyl acetate, amyl alcohol.

Functional as a food additive: - Isomail acetate is used as a flavoring agent and carrier solvent. Recognized as a FAO / WSO Expert Committee on Food Additives. But no safety concern at current level of intake when used as a flavoring agent its dose is 0-6 mg. Can be as much.

Synthesis: - Acetic acid is a valence derivation with isoamyl acetate by esterification of isoamyl alcohol. But these products are being biologically derived. This is a special reaction that is being investigated by Iso Emile Acetate Formation Thur Lipase in the form of Catalyzed Assimilation of Iso Emile Alcohol.

Use Areas and Permissible Level: - The US Government Code of Federal Regulation describes the following for this flavor additive.

This flavor additive can be used in food products with minimal contingency.

Isopropyl citrate: - Citric acid mixed ester of ૨-propanol. Approximately 5 part by weight iso mono iso propyl citrate in 4 parts by weight of mono and diglyceride.

Functional as a food additive: - Isopropyl citrate is used as an antioxidant as well as a succulent that is recognized by the FAO / WSO Expert Committee on Food Additives.

Synthesis: - Citric acid is made by mixing Easter with a solvent, catalysis and aproprite alcohol in azotropic condition. Sulfuric acid as catalysis, mercury-tolunsulfonic acid, ion exchange resin

Use Area and Permissible Level: - The US Government's Code of Federal Regulation for food additives is described as follows.

Iso Propyl Citrate Mixture is permitted to be used as preservative in margarine up to 0-05%.

Isopropyl Myristate: - Synnim: Isopropyl Tetradecanoate, Tetra-Decanoic Acid Propanol Easter, Molecular Weight 20-6.

Properties: - Low-Viscos Liquid, Orderless, Soluble in Castor Oil, Cotton Seed Oil, Acetone, Chloroform, Ethyl Acetate, Ethanol, Toluene and Mineral Oil, Insoluble in Water, Glycerol, Propylene.

Functional as a food additive: - Isopropyl Myristate is used as a food and flavoring additive. Recognized as a FAO / WSO Expert Committee on Food Additives.

Each of the above products can be used in all types of food products as per Food and Drug Administration Act norms.

Each type of Finnish goods can be used as per the given percentage.

Excessive consumption of Finnish goods can be harmful.

License: - The License under the Industries Act and Clearance from Food and Drug Authorities is required.

Note: - The Formula Prescribed by Indian Nations can only be made as per the Food and Drug Administration Act.

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#Detailed information about food additives

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Spinning mills will reduce production as cotton prices skyrocket

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- Antenna: Vivek Mehta

- Demand for cotton yarn and fabrics and garments breaks in international market after cotton prices rise

Cotton prices have skyrocketed in the international market. Foreign speculators and companies are booming in the Indian cotton and textile market through the MCX exchange. Arun Dalal of Cotton Market says Life has never seen such high cotton prices. The price of cotton has gone up to a level never reached in the history of 5-30 years. The start of the Rooney season was priced between Rs 2,000 and Rs 50,000. Today, Rs. 2000 to 30,000. The price of cotton candy (5 kg) is Rs. 3000 quotes are being done. Price quotes are believed to be sitting on cotton stocks. Speculators want the price of cotton to be Rs. 1 lakh. New York futures have reached 181 cents. Prices have risen due to speculation rather than demand. International hedging funds have speculated. So prices have skyrocketed. The cotton crop is low, but not so low that prices go up. Therefore, the textile industry demands that if the cotton futures of MCX are banned, India's textile industry will be wiped out. Speculation has done great damage to the entire value chain, including spinning in textiles.

Speculation has led to an increase in the price of cotton, a rise in the price of cotton, an increase in the price of yarn, and a rise in the price of yarn. Demand for cotton yarn and fabrics and garments has taken a break in the international market following the rise in cotton prices. There is limited demand in the domestic market. The Cotton Advisory Board has said that the earlier estimates of more than 20 lakh bales of cotton crop were incorrect and in fact the cotton crop was 5 to 20 lakh bales. Speculators are taking advantage of the difference of 20 lakh bales. The crop has come down but where last year's pending stock disappeared has become a mystery. Speculators are believed to have cornered the goods. A meeting of the Confederation of Indian Textile Industries has demanded closure of cotton deals in MCX and removal of cotton from MCX to curb speculation in the cotton market.

In such a case, the seller has to deposit the increased amount in the payout as the price increases after selling at the bottom of the futures trade. In this case, the speculators try to break the price by taking it higher. If the payout is stopped, the market cools down. Market regulator SEBI can tighten the reins by blocking payouts. Despite having this power, SEBI does not take any steps to stop it. On the other hand, the Confederation of Indian Textile Industries has demanded removal of import duty on cotton. Farmers have dumped their cotton in the Indian market. So falling prices is not a question of declining farmers' income. Local speculators are likely to reduce prices or dump goods in the market for fear that rising imports of cotton will lead to a rise in the price of stored cotton.

As many as 100 spinning mills and 200 textile spinning units in Gujarat are facing difficulties due to rising cotton prices. Saurin Parikh, president of the Spinning Association of Gujarat, says the high price of cotton has pushed up the price of his yarn. So the market does not meet. Demand is not seen in the international and national market due to the price of yarn. So the spinning mills have decided to cut their production by 50 per cent. Rahul Shah of Ahmedabad's textile sector also echoed his sentiments, saying rising cotton prices would cut spinning mills by 15 to 20 per cent. At the current price of cotton, it is difficult to make cotton yarn and sell it in the market. Rising spinning at this price of cotton does not remain viable. The spinning mill is likely to come to Las. Gaurang Bhagat, president of Muscati Textile Mahajan in Ahmedabad, says the rise in cotton yarn prices has pushed up fabric prices. In the processing of shuttag, rayon, dress material, the price per meter is Rs. 2 has increased. The shooting price is Rs. There has been an increase of 12. So sales have taken a break. Some have housewives while some do not have housewives at all. The processor will charge another Rs. Going to increase by 3. As a result, prices have risen at all levels in the textile segment.

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#Spinning mills will reduce production as cotton prices skyrocket

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In order to increase productivity in the agricultural sector, it is necessary to increase the budget provision behind research

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- Even after 5 years of independence, food has to be imported

- In view of the Russia-Ukraine war, it is imperative that a policy be formulated immediately to increase this percentage.

- Due to good monsoon for the last two years, the country has witnessed record production of foodgrains but prices have not remained low

As an agriculture minister, India is self-sufficient in agriculture and food, with the exception of edible oils. Is. According to experts, if India is to take the lead in agriculture and food production compared to other countries, it is necessary to increase the expenditure on agri research and development. In addition to increasing productivity through research and development helps to increase competitiveness. At present, the total R&D expenditure of the Center and the states behind the agriculture sector is less than one per cent of agriculture-GDP, according to a study. In the central and state budgets, R&D allocation for agriculture sector is seen as 0.50% of agriculture-GDP.

In view of the Russia-Ukraine war, it is imperative that a policy be formulated immediately to increase this percentage. Domestic market prices are currently high as edible oil supplies from Ukraine have been cut off due to the war. India is the largest importer of edible oil in the world. India has been forced to agree on a price of ૨ 5,150 per tonne for sunflower oil. The price was ડો 150 before Russia invaded Ukraine. In view of the situation arising out of the disruption in the supply of sunflower oil, the Government of India has also started approaching the countries of South America and South East Asia.

Demand for palm oil and soybean oil has also risen due to shortage of sunflower oil, which has had a direct impact on India's import bill. The country's edible oil imports rose 5 per cent in February. Although India has so far been a net exporter of agricultural products and has become a self-sufficient country in the agricultural sector, imports account for 5 to 20 per cent of edible oil consumption. Even after 7 years of independence, we are still forced to import some pulses. Due to the shortage in the country, free import of Adad and Tuvar has to be allowed.

In the Economic Survey 2021-2, it has been emphasized that the expenditure behind agriculture R&D is in line with agricultural development. Rupees spent on R&D can be compensated as compared to rupee spent on fertilizer subsidy, electricity subsidy etc. It is a fact that political parties in India are forced to take popular measures like agricultural subsidies, MNREGA, etc. to retain power, resulting in no special allocation of resources behind R&D.

It would not be wrong to say that India will not be able to develop world-class technologies that can compete globally, given the nature of the allocation of resources in the FY 207 budget. Some of the private sector companies engaged in the production of agricultural raw materials in the country spend some of their turnover on agricultural R&D, true, but this is to increase their productivity while declining water resources, vulnerabilities against climate change, limited fertile land available for sowing. Issues like these are still challenging.

A number of steps must be taken to improve the condition of India's agricultural sector. Measures especially for water availability. Managing water resources is a big challenge for farmers. Integrated irrigation facilities reduce dependence on rain water for agriculture. Irrigation can lead to stability in agricultural production and increase in profits. The struggle for water for agriculture, industry and domestic use can be avoided through water management technologies. The use of such technologies and new and efficient water management system will be able to attract new generation to agribusiness. Adequate R&D remains essential for these technologies and methods.

If decisions are taken leaving politics aside in formulating agricultural policy, then farmers as well as consumers will continue to get foodgrains at a fair price which can be considered as compensatory for them. The country has witnessed record production of foodgrains due to good monsoon for the last two years but prices have not remained as low. It is a common math that prices should fall as supply increases, but not in the case of cereals. The reason prices do not come down is high production costs. It is the responsibility of the policy makers of the country to play the role of proper manager and if this responsibility is not met then no matter how much bumper crop there is, it will not benefit the farmers or the consumers. Large investments are required today in research and development in the field of agriculture to increase yields at low cost.

In order to increase the cost behind agriculture R&D, the existing budget allocation policy will have to be changed and the government will have to ensure that sufficient funds are available for agricultural R&D. The Russia-Ukraine war after the first Corona has signaled the need for most countries in the world, including India, to reshape their economies. The war has given India high prices for its wheat and maize, but the high cost of importing edible oils against it has indicated that we are not fully self-sufficient in agriculture, despite being an agricultural country.

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#In order to increase productivity in the agricultural sector #it is necessary to increase the budget

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Despite the hostile environment, India's economy is still strong

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- Aataapakarana Atapata: Dhawal Mehta

- Russia's oil and gas market continues to be disrupted by sanctions

The fundamentals of India's economy are strong and the responsibility for maintaining price stability rests well with the Reserve Bank of India and the Central Government. India had an estimated GDP of ૬૬ 4.5 billion in 203, Russia's GDP was only ૪૮ 4.5 trillion, but Russia's population is only 126.1 million and India's estimated population of 2030 has reached 180 million, so India's per capita income is about 1 billion. . The United States had a per capita income of about ૬૩૫૯૩ 4 million by 2050, with a population of only 20 million. The US GDP (in 2030) was ૯૪ 20.6 trillion. Which was 12 times Russia's GDP. The United States has no qualms about Russian economics.

But the whole world is afraid of the nuclear weapons of Russia and China. No matter how small and poor the country may be, but if it has Yankee type nuclear weapons, the world will be scared of this small and poor country too. North Korea is a small country but because it has nuclear weapons every country is afraid of its extreme and arbitrary obese personality their government is hereditary and dictatorial. They can destroy the world with nuclear weapons without anyone's permission. If Russia had not had nuclear weapons, the United States would have overthrown Putin's government. Putin has now threatened Ukraine and the world with the use of nuclear weapons, bringing the world closer to World War III. The United States wants to defeat Putin, imprison him, and prosecute him for war crimes.

Economics of India

India's economy may be smaller than America's, but it can withstand difficult times with patience. In English, this skill or mentality is called 'Resilience'. An important point is that India's economy (excluding the Kovid period) is growing at a rate of six to eight per cent. Even when the economic situation of the world is in turmoil during 2021-202, the F.V. (Which ended on March 31, 2009) The Reserve Bank of India, which is responsible for stabilizing prices, has also kept inflation at around 2.1 per cent at current retail market prices. Although the Reserve Bank has set inflation at 5 per cent, the RBI and the government have not allowed the retail price hike to go beyond 5 per cent. Of course, the recent rise in crude oil and gas prices will have an impact on the prices of almost all services and products in the country. The Reserve Bank of India (RBI) has so far not panicked over the price hike and has not made any changes in the bank rates, indicating that the RBI has focused on boosting economic growth. If the countries of America and Europe achieve a growth rate of even 5% in GDP, they will become a peacock. India, on the other hand, considers a normal economic growth rate of 6 to 8 per cent.

Foreign exchange: India's foreign exchange reserves have reached 3 billion. Of course, this fluctuates on a daily basis, but not more than Russia's foreign exchange reserves. The sanctions imposed on Russia over its invasion of Ukraine will have a serious impact on Russia and its economy as a whole.

Russia will lose its oil and gas market. Russia's economy is dependent on oil, gas, weapons, etc., and its economy will continue to collapse as tougher sanctions are lifted.

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#Despite the hostile environment #India's economy is still strong

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Bilateral jumps in gold prices amid the war effect

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- Bullion Bits ઃ Dinesh Parekh

- According to experts, by the end of this year, the price of gold in the world market is likely to exceed 200 an ounce.

News of the end of the war between Russia and Ukraine in the international market sent gold prices plummeting to ૪૫ 20-2 an ounce on Tuesday, with New York's Comex market quoting ૮૯૩ 15 an ounce, after which the price continued to hover around ૯૩૬ 15 an ounce. It bounced back from ૯૪૯ 15 to 120, and finally to ૯૨ 151 to 15.

Everyone started buying gold in the hope that the US job data would improve the financial situation. In addition to the importance of store value hidden in gold, increased demand for gold began to buy gold at lower prices.

The fight has had a serious impact on the gold jewelry trade, with reports from Dubai saying that the Dubai gold market has seen a decline in consumer mobility and a decline in jewelry sales. Money can be made by buying. Orders from gold jewelry exporters began to be canceled during the war. But with zero import duty on gold jewelery in Dubai, traders in jewelery-exporting countries believe that the trade in jewelery will increase in the near future.

Gold prices are strengthening on the back of weakening dollar and rising Treasury bond yields. In the midst of this war, Russia has waived the 30 per cent value-added tax on Russians who buy private gold to stem the declining value of the ruble. This is because after March 1, the Russians started using gold instead of keeping their capital in rubles, and helped break the ruble to its lowest level. The ruble has depreciated sharply following Western sanctions.

Dmitry, a senior vice president at Russia's state-run VTB Bank, said they had started selling 1-1kg of gold from March 1. Analysts say that the government has set a price of 2,000 rubles per gram of gold to attract people to buy gold when those who start buying gold have less money. (૧ 1: 2.50 rubles).

The war between Russia and Ukraine has created new equations in the global financial markets and China plans to reintroduce the gold standard as an alternative to the dollar. China has once again started buying gold from the world market through the Shanghai Gold Exchange since 2000. Today, China has 301 tonnes of gold in reserves and will soon replace the US reserves with a new currency, the dollar.

As the value of the dollar continues to decline in the global market, the prevalence of the dollar in global financial transactions has dropped from 40 per cent in 2013 to 20 per cent in 2020, while in China it has fallen from 20 per cent in 2016 to 9 per cent in 2020. Circumstances are emerging where China devalues ​​the dollar and creates new equations. The price of gold in the world is still quoted in dollars and there is a saying that as the dollar strengthens, gold softens and when the dollar softens, gold prices strengthen. China is trying to disprove this statement.

Falling oil prices and rising again will support the gold bulls and the rise in interest rates will give a new impetus to gold as the negative impact on gold will be neutralized. Experts say gold will hit 50 an ounce by the end of this year.

Hopes of a war deal had a short-term effect on world silver prices, and silver fell and was quoted at 5 cents an ounce. Bank of America's silver holdings in New York's Comex vault, which was 6 billion three months ago on 21-12-2021, has begun to break Morgan's monopoly today, rising to 4.5 billion. Morgan has been able to fluctuate silver prices in the market over the last several decades due to its silver holdings, and today Morgan's silver holdings are half a billion dollars more than Bank of America at 3 billion. New York's Comex market has a short-term credit position of 200 million ounces, while the world's annual silver production stands at 1,200 million ounces. Experts say that silver, which is still undervalued, could hit ત્યારે 50 an ounce at any time, raising its shortfall.

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#Bilateral jumps in gold prices amid the war effect

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The RBI will also follow the policy normalization process in the near future

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- Central banks in South Korea, the United Kingdom, South Africa and the US raise interest rates after the epidemic

Global central banks have raised interest rates from low levels during the epidemic period. Russia has also had to raise interest rates amid geopolitical tensions. It now has an interest rate of 20 per cent, which is 17.5 per cent higher than the epidemic.

The central banks of many countries are taking such action. In Brazil, interest rates are now at 11.5 per cent and are now 2.8 per cent higher than their lowest level during the worst of the epidemic. The central banks had earlier cut interest rates in the early stages of the Covid-12 crisis to support the economy.

Now it is being decided to increase the rates to normalize the rates as well as to control inflation. Other countries where central banks have raised interest rates include South Korea, the United Kingdom, South Africa and the US.

The main interest rates for these regions vary from 0.5 per cent (Euro area) to 5 per cent (India and South Africa). The RBI's March 203 bulletin states that the central bank's action is justified globally. In most emerging market economies, central banks have also begun tightening policy, including in Mexico, which raised its benchmark interest rate by 20 basis points in February. In response to the crisis, the Bank of Russia raised its key rate by 10.5 per cent to 20 per cent on February 8, 2008 due to unfavorable external conditions, as well as the risks of currency devaluation and rising inflation.

The People's Bank of China, on the other hand, has stopped raising rates, while Turkey's central bank has also stopped raising rates for the second month in a row. Balancing inflation is a global challenge to support economic recovery. Emerging market economies face a variety of issues, including capital inflows and geopolitical risks. Inflation in India is 4.05%. Thus, it is included in the top eight countries. In Brazil it is up to 10.8 percent. Inflation in South Korea is 7.5 percent.

In many developed countries and regions, India's upper band is below the inflation target of less than 3%. In the eurozone, for example, it is 4% higher than in the medium term. The current figure is 7.5 percent. The sector is facing high inflation amid geopolitical tensions which has also affected its approach to raising interest rates.

Inflation is likely to remain high due to geopolitical tensions and its impact on commodity prices, Morgan Stanley's IndiaEconomics report said. According to the report, the RBI may soon raise rates. An increase in the repo rate is expected at its old meeting. But it is now possible that the policy normalization process will be followed by an increase in the reverse repo rate in April. If the Reserve Bank delays its normalization process, the risk of a disruptive policy rate hike will increase.

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#The RBI will also follow the policy normalization process in the near future

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An important judgment of the Supreme Court regarding the parties interested in the auction regarding the recovery of the loan

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- People-oriented guidance: H.S. Patel IAS (Retd.)

Financial Institutions - In which loans / loans given by recognized banks, co-operative banks etc. have a provision to take securities in a proper manner and accordingly encumbrances are made on the respective property / assets and such encumbrance is related to the revenue records - After being noted in the title deed, it is recorded in the second right of the sample no. 2 as well as in the property register. State Government Institutions / Banks etc. have a recovery mechanism and if no recovery is made after the efforts, the property concerned is auctioned off. SARFESI ACT 2006 was introduced by the Central Government as part of recovery for bank lending. (Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act) which is described in this article is from Madhya Pradesh and in that case the process of auctioning of the foreclosed property is in case of non-recovery despite the efforts of the concerned bank as per the provisions of this Act. The property to be sealed in the process belonged to the Hindu Undivided Family. The civil court and the Madhya Pradesh High Court dismissed the claim of the parties concerned that the civil court had no jurisdiction over the interests of other interested parties and the main reason was that the civil court did not have jurisdiction as per the provisions of the SARFESI Act.

Now looking at the facts of the case, the parties against the judgment of the Madhya Pradesh High Court have filed a civil appeal no. With the judgment of 30/10/2018, Justice K. S. Radhakrishnan and a. K. Sikri gave an important judgment stating that the jurisdiction of the SARFESI Act of Sections 12 (3) and 4 has been clarified. At the same time clarifying the provisions of section 13 of the DRT Act (Debt Recovery Tribunal Act), the judgment is important for the general public as in many cases the joint Hindu ownership of the joint Hindu undivided family's land / property without an undivided share. The judgment also states that the power to determine such dispute / arrears is beyond the provisions of the SARFESI Act when the burden is generated and later the land of the person concerned is also auctioned by the concerned financial institution. The cause of the dispute arose when the land in question was auctioned off but the land was not handed over to the bidding party.

After stating the essence of the aforesaid judgment, this case belongs to the land of village Sengav, Anjad Road, Barwani Khasra-Ray Survey-201/2 and 104/2 of Madhya Pradesh and the plaintiffs in this case raised the question of title on the basis of joint Hindu family property Property) was derived from the income of the joint family property as a stakeholder and the property concerned should not be treated as joint Hindu family property on its basis but only as the sole property of the defendants and the Hon'ble Supreme Court ruled on the same issue. The interpretation that the civil court is prohibited to decide on the right / share of the joint undivided person under the provisions of the Act is erroneous and it is decided that the civil court has the power to determine the right of the disputant under sections 12 and 3 of this Act. Accepted. This is established by the fact of the whole case and when the Hon'ble Supreme Court has given its verdict it takes the place of Law of Land.

So for the masses and thus for the public this matter is important for information as well as for their right because even in Gujarat most (lands / properties / undivided) are divided and many such cases also occur because one of the occupiers of joint property. If the brother submits a loan or burden and fails to repay it and the property given in the land is auctioned off, the interests of the remaining interested parties are adversely affected. And in which there is no need to register the document so that instead of waiting till the occupier of any land dies and inherits, the name should be entered in the co-partner with the consent of the surviving parties and recorded in the title deed of the revenue record as per the partition deed. Disputes do not happen later.

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#An important judgment of the Supreme Court regarding the parties interested in the auction regarding

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Cereals, lentils, oil and spices are on fire

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- Commodity Current: Jayavadan Gandhi

Agricultural markets, which were closed last week due to the March ending, reopened on Monday and the revenue of goods started booming again. The highest income of agricultural products is April-May. Prices of most of the agricultural commodities in the current season are bullish, which is giving farmers a huge gain in income over last year. Markets for most commodities, including cereals, oilseeds and spices, are higher than support prices. Demand for wheat and rice in particular is on the rise in India, while India's policy of trading in rupees instead of dollars in global trade, especially in Asian countries, has strengthened the Indian currency. Wheat exports are expected to increase three and a half to four times due to government incentives. Which is estimated to reach one crore metric tons. Wheat exports are gaining momentum as the government has relaxed many things, including licenses, which are included in the free category as per the government's foreign trade policy.

In addition to wheat, the demand for other cereals like rice and maize is also increasing worldwide. Thirty years later and started buying rice from India. From April to December this year, China bought 1.1 million tonnes of rice and Vietnam 3 million tonnes. Currently, the demand for sliced ​​rice is increasing due to high corn prices. As the demand for maize in West-South Asian countries rises, countries like Vietnam, China and Indonesia have started using corn substitutes as animal feed. Maize is being supplied from Kandla port to Oman and Gulf countries. Due to increase in demand, open market prices of maize are Rs. 200 to 300 per quintal. While the support price of maize is Rs. The market is booming due to the ever-increasing demand for maize kharif crop is almost complete. Food items such as Indian wheat, corn and rice are seeing a significant rise as wheat and maize exports from both countries are being halted due to the wars in Ukraine and Russia. The price of parallel corn rice has also gone up by Rs. Heads up around 2100.

Government procurement is also picking up speed in view of the ever-increasing demand for wheat. Wheat support prices per quintal Rs. It is 2015. At a time when the price is higher than the support price in the open market, the flow of farmers is increasing towards the open market. Rising prices of grains as well as beans as well as edible oils and spices are becoming a headache for the government. Even though the markets of Adad and Tuwer are higher than the support prices, there is some resentment among farmers these days. Tuwer: Farmers are angry over the calculation of declining pulses prices for fear of increasing imports, keeping imports in the free range till March 203. Despite rising prices, the peasantry is now in a wait-and-see position before bringing their agricultural produce to market. It is taking steps ranging from stock limits to importing goods to control the rising prices of pulses and edible oils. The government estimates that the growing market for pulses will come to a halt in the coming days as 2.5 million tonnes of tur will be imported from Myanmar.

The market is moving at a rocket speed despite the government closing futures on rye, soybeans, soybean oil and wheat chickpeas for some time now. The wheat market of Rs 500 to Rs 800 is likely to go up to Rs 2,000 in the near future. With Rayda's 1,100 to 1,800 range market jumping, the chances of a castor and soybean market of around Rs 1,200 to Rs 1,200, around Rs 500, going up to Rs 2,000 are getting stronger like last year.

The spice market is also witnessing a boom at present. Cumin futures have risen by Rs 15 to Rs 12 per kg in the last week, pushing prices to around Rs 7 per liter. However, due to lack of expected revenue in cumin this year, the market is still expected to bounce back to 30-40. Last year, in April season, 8 to 20 thousand sacks of cumin were being sold in the high market, while this year, only 5 to 20 sacks of cumin are being sold. With this, the rise in fundamental support in Jira is taking four months. Along with cumin, coriander market is also booming due to lack of goods. In addition, as the US puts more emphasis on crude oil production, guar exports are expected to pick up in anticipation of rising guar exports. Overall, despite the high prices this year, the farmers are not in a hurry to sell their goods with a weight watch, considering the market is still growing.

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#Cereals #lentils #oil and spices are on fire

[todayknowledgeablenews]

Retreat of foreign banks in India due to various adverse trends

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Over the years, foreign banks have shown a tendency to limit their business in India. While most of these institutions have maintained their reach in the institutional and investment banking sector, they have stayed away from retail banking. Citigroup recently sold its retail business to Axis Bank in a cash deal. The deal was worth about ૬ 1.5 billion. In the past, FirstRand UBS, Barclays, BNP Paribas, HSBC and RBS have limited or stopped their retail business. This is due to the complex compliance requirements of the Reserve Bank of India and the competitive nature of the retail banking sector. There is no doubt that there is a large middle class in the country which is very much interested in financial planning. In addition, there is a new class of highly competitive local banks and non-backing financial companies and fintech companies in India who are eager to serve in this field. Foreign banks are not able to compete with local banks in terms of business size and are reluctant to invest in the technology required for this. Citibank, for example, says it could invest ડો 500 million in equity that will be redeemed from deals elsewhere in less competitive areas.

Citigroup has also moved away from retail banking to 15 other countries, as size is more important in retail banking than higher margins. To be effective in this area, the service provider needs to operate on a large scale and have access to multiple markets and regions. Moreover, the Indian financial economy has already gone largely digital.

This means that the country is investing heavily in technology to stay competitive in the world in the field of retail banking. Due to these constraints, it is almost impossible for a foreign bank to compete with a local bank.

The risk of default in corporate banking was also high until the epidemic. Retail customers very rarely default. This means that banks have diversified into retail risk against the risk of default. The epidemic changed that attitude as retail loans quickly defaulted. As this access to retail no longer provides protection against risk, banks have reviewed their corporate strategies against retail. While foreign banks have stayed away from the retail business, Indian banks will also have to consider this commitment.

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#Retreat of foreign banks in India due to various adverse trends

[todayknowledgeablenews]

Market Overbot: Scrap-based reform moves will continue

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- Chart Hint: Ashok Trivedi

The BSE Index (Closed 3.2 on 01-09-2) is in favor of a reactionary correction from the bottom of 20.8. At present the average for 15 days is 4.5 and for 8 days it is 310.30 and for 200 days it is 313.50. The daily MACD is pro-reform. The weekly MACD is pro-softening. Displays neutral position from overboat on daily and weekly basis as well as overboat on monthly basis. If you jump 20, 20200 on the top 6, the possibility is up to 205, 20200. The bottom is considered to be 200 support below 50. The market can make a market top around Wednesday-Thursday.

Godrej CP (closing price of Rs. 3.00 dated 01-06-2) is in favor of reactionary correction from the bottom of 4.10. At present, the average for 15 days is 215 and for 8 days it is 4.5 and for 200 days it is 4.5. The daily MACD is pro-reform. The weekly MACD is pro-softening. Overbought on a daily basis, towards neutral on a weekly basis as well as an oversold position on a monthly basis. If 4 jumps on top of 2, chances are up to 20, 5. The bottom 2 counts as support.

HDFC Life (Closed Price Rs. 50.5 Dt. 01-09-2) is in favor of reactionary correction from the bottom of 2.09. At present, the average for 15 days is 6.5 and for 21 days it is 21.5 and for 200 days it is 4.5. The daily MACD is pro-reform. The weekly MACD is pro-softening. Shows overboat on a daily basis, towards neutral on a weekly basis, as well as an oversold position on a monthly basis. Possibility of up to 4, 5 above 21. The bottom 6 counts as the bottom 21 support.

Hindalco (closing price Rs. 30.30 dated 01-06-2) is in favor of softening from the top of Rs. At present, the average for 15 days is 8.50 and for 8 days it is 4.5 and for 200 days it is 4.5. The daily MACD is pro-softening. The weekly MACD is pro-reform. Shows oversold position on daily basis, overboat position on weekly as well as monthly basis. Above 6 is considered as 200 resistance surface. Possibility of 20 below 20, up to 20, 2.

Hindustan Unilever (closing price of Rs. At present the average of 15 days is 2013.8 and 5 days is 313.05 and 200 days is 202.5. The daily MACD is pro-reform. The weekly MACD is pro-softening. Shows overboat on daily basis, oversold position on weekly as well as monthly basis. Probability up to 2101, 2111, 2120, 214 above 206. Below 202 below 302 support counts.

Tata Motors (closing price of Rs. 31.18 dated 01-09-2) is in favor of reactionary improvement from the bottom of 4.5. At present, the average for 15 days is 7.5 and for 21 days it is 21.12 and for 200 days it is 313.5. Overbought to Neutral on a daily basis, Neutral on a weekly basis and Overbought to Neutral on a monthly basis. Possibility of up to 2, 3 if 4 jumps upwards. Below 2 counts below 20 support.

Wipro (closing price of Rs. At present the average for 15 days is 4.05 and for 8 days it is 8.10 and for 200 days it is 4.5. The daily MACD is pro-reform. The weekly MACD is pro-softening. Shows oversold on a daily basis, overboat on a weekly basis and oversold positions on a monthly basis. Above 214 counts as resistance surface. Possibility of 4 down to 2, 3, 4 below.

Bank Nifty Futures (Closed at 30.00 on 01-03-2) is in favor of reactionary correction from the bottom of 31.8. At present the average for 15 days is 313.8 and for 9 days it is 8.31 and for 200 days it is 3104.5. The daily MACD is pro-reform. Weekly MACD is pro-softening. Shows a position towards overboat on a daily basis as well as towards neutral on a monthly basis. Possibility of up to 200, 50, 50, 50, 610, 50. Below 50 counts as 20, 30 as support.

Nifty Futures (Closed 12.5 on 01-03-2) is in favor of reactionary correction from the bottom of 17.5. At present, the average for 15 days is 12.5 and for 12 days it is 1213.8 and for 200 days it is 120.8. The daily MACD is pro-reform. The weekly MACD is pro-softening. Overbot on a daily and weekly basis as well as a neutral position from Overbot on a monthly basis. If 1609 jumps above 120, the probability is up to 120, 12050, 1200. The bottom 12 counts as 150, the bottom 12 as support.

Sayonara

Never see flowers, never know the state of flowers, there are many quotas that everyone knows. -'Agan 'Rajyaguru

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#Market Overbot: Scrap-based reform moves will continue

[todayknowledgeablenews]

Opportunity for India to withdraw China from Sri Lanka

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Opportunity for India to withdraw China from Sri Lanka

Sri Lanka's economic crisis is benefiting India. Sri Lanka, which had fallen behind due to its excessive friendship with China, is now setting the stage for the return of Indian companies by bidding farewell to the Chinese. It all started with the power field. Lanka has entered into an agreement with India to exclude Chinese companies from a hybrid power project on three islands near Jaffna.

According to market experts, small Indian companies tend to focus on Lanka. There is a huge opportunity especially for MSMEs. Lanka's own market is small but large business can be done as the major ports of the Indian Ocean are in Lanka. Since Lanka is very close, the cost of transportation will be negligible so the profit margin will be good.

Paytm is another Reliance Power

Paytm investors are weeping but their woes are not expected to end in the near future. With the introduction of various investigations against Paytm, there is no hope of improvement now. According to market insiders, Paytm has proved to be the second Reliance Power in the history of the stock market.

The stock, which was found at Rs 4,150 in the IPO, has fallen by a whopping 5 per cent to around Rs 500. The Reserve Bank has ordered an inquiry into the Paytm Payments Bank scandal. The BSE has also asked the company to explain why the share price has plummeted so much. Experts are now advising to stay away from Paytm as all these investigations are likely to come out in a big way.

'Shark' Ashnir to venture into digital tech?

The company has appointed an interim CFO following the departure of 'Shark Tanks of India' fame Ashneer Grover and his wife Madhuri Jain from India over allegations of financial misconduct. The company wants to come up with its own IPA in a year and a half.

Ashneer, on the other hand, is seen with his show host Ranvijay Singh. Because of this, there is speculation that Grover will soon come up with a new big project on the entertainment and digital platforms.

Grover has a lot of followers on social media, including Instagram. He has gained popularity across the country due to 'Shark Tanks of India' which could benefit him in a new project.

Adani's new move to inspire Ambani

After talks between Mukesh Ambani's Reliance Industries and Saudi Arabia's Aramco, Aramco will now join hands with Ambani's rival Gautam Adani. Gautam Adani is reportedly considering investing in Aramco.

As of now, Adani and Aramco will be working together in the field of crop nutrients, including renewable energy chemicals and fertilizers. It is rumored that Adani wants to join hands with Aramco to set up its own refinery in India. Aramco and Adnock, a UAE-based state-owned company, were to build a refinery in Maharashtra at a cost of ૪૪ 3 billion in collaboration with the Indian government's Petro Company. The project was shelved due to opposition from local politicians. Now that Adani has managed the politician, it is said that Aramco-Adani will set up a refinery.

Anil Ambani moving Rila. Cap. Lifted

Even though Anil Ambani's Reliance Capital is mired in debt, stock market experts believe that investing in Reliance Capital's stock could make money. The reason is that Anil has left and now the company will be in the hands of new management.

A total of six players, including a bigwig like Tata and Adani, are in the fray to acquire Reliance Capital. The fact that such a large group is interested in the company means that the company is likely to make money. The share price has been rising steadily due to the possibility of a large group buying, but if Tata or Adani enters, the price will jump at a rocket speed.

The Modi government will raise interest rates on small savings

The Modi government needs huge sums of money for infrastructure projects. To this end, the government is now considering raising interest rates on small savings. The Modi government has signaled that it will keep interest rates on small savings unchanged for the first quarter of the new financial year.

In India, people place great importance on saving. People are also more interested in investing in government instruments as government investment is considered safe. Due to this, despite very low interest rates, PPF, NSC, Sukanya Samrudhi Yojana, Post Office Deposits etc. still make safe investments. Raising interest rates will increase people's investment so the government will get more money at cheaper interest rates.

Tesla slammed the Modi government

The Modi government has succeeded in wooing Tesla, the world's largest electric car maker. Tesla wanted to sell cars in India without any investment. The government had conditionally approved the sale only if it was manufactured in India. Alan Musk is said to have finally agreed to the government's terms after a few flirtations. It has not been officially announced yet but Tesla will make Model 8 in India. Tesla will set up a giga factory in India for lithium-ion batteries and other electric components. The car will be sold not only in India but in the entire Indian subcontinent. In the future, cars for the South East Asia and Africa market will be made in India.

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#Opportunity for India to withdraw China from Sri Lanka

[todayknowledgeablenews]

E to Q eCommerce to Quick Commerce

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- The Next Time of Ecommerce All the applications for e-commerce following Quick Service are now being built with the theme of Instant.

- The Next Time of Ecommerce All the applications for e-commerce following Quick Service are now being built with the theme of Instant.

E-commerce is now becoming quick commerce. The competition for quick delivery in the field of e-commerce has come down from one day to ten minutes. The e-commerce and food delivery system runs parallel. There is competition to reach customers between food delivery, delivery of medicine, delivery of groceries etc. Recently, Zomato, which is involved in food delivery, has created a sensation in the market by announcing the creation of a food supply system in 10 minutes.

Domino's started delivering pizza in 90 minutes and even offered a free scheme if it didn't arrive. At some centers, it has also been successful in cutting delivery times by 30 minutes. Then the competition between Swiggy and Zomato in the field of food delivery came to the fore and people took advantage of it.

In the Corona era, when food delivery was discounted, online orders were also seen in the waiting list. In short, online food delivery has become popular at home. People are leaning towards a delivery system that can send goods faster.

Companies with a quick delivery system and more delivery staff can easily reach people. The situation is that new e-commerce companies have to set up a system for quick delivery first and then set up a site.

Pizza Delivery in 30 Minutes has made e-commerce sites quick to deliver. When online product buyers received weekly deliveries, people kept track of where the items were delivered. In the competition that has just started, each site is delivering goods in a maximum of three days. Consumers expected groceries to be available within 2 hours, but due to intense competition in the e-commerce sector, deliveries are made within 12 hours of ordering on-line. Now the plan is to deliver whatever you order from 4000 types of groceries in just 12 hours. Medical drugs are also available within eight hours of ordering.

Big Basket has also joined the race to deliver fast purchases. Big Basket's BB Express plans for an hour-long delivery. Within an hour of receiving the order, he orders 5,000 types of groceries and plans to deliver on time.

Competition was started in the medical medicines and food delivery system for fast delivery of order items which reached the delivery of groceries. Zomato's sensational offer of a 10-minute delivery system is also causing controversy. Many restaurants have commented that fresh food cannot be prepared in 10 minutes. The desired dish may be ready within ten minutes of ordering but the idea of ​​delivering it within ten minutes can be said to be too hasty. Orders can be placed on Tata's BB Express from 5,000 products. The market for online medicine is tied to quick delivery. Those who offer quick delivery can get more customers.

The top e-commerce site adopts a multi-modal approach to reach customers. Such as Zomato-backed Blinkit, Reliance's Dunzo, etc., with network planning of deliveries. Each application also keeps a column on how long customers need the goods. Quick Delivery Systems Larger and more staffed companies can successfully take people to the next level. The situation is that new e-commerce companies have to set up a system for quick delivery first and then set up a site.

Pizza Delivery in 30 Minutes has made e-commerce sites quick to deliver. When online product buyers received weekly deliveries, people kept track of where the items were delivered. In the competition that has just started, each site is delivering goods in a maximum of three days.

The next period of ecommerce All the applications for e-commerce following Quick service are now being built with the theme of Instant. It is assumed that the delivery will be arranged on the day the order is placed or at the time the customer chooses.

To give an example of Amazon, people who are members of Amazon Prime have an arrangement to get early delivery. In the United States alone, Amazon Prime has 102 million members. About 5% of Amazon's customers are in the United States. Some customers want delivery on time rather than fast delivery. Consumers are welcoming such a system. This is called slot management.

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#E to Q eCommerce to Quick Commerce

[todayknowledgeablenews]

The shift of the Indian economy from 'cash' to 'cash-less'

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With the increase in online payments, cash withdrawals from ATMs have also come down. 1908

The Indian economy is now moving at a steady pace towards becoming a digital economy. This is due to various online payments and digital lending applications, net banking, growing number of smartphone users and increasing penetration of internet service. Yes, governments and banks and financial institutions are also promoting the digital payment ecosystem. A feature has also been introduced that allows mobile users other than smartphones to make online payments even without internet. The calendar year 2021 has been a pivotal year for India in terms of digital payments.

Huge growth in the number of debit-credit cards

The number of debit-credit card users in India is growing rapidly. According to the India Annual Digital Payments Report-2021, the total number of cards in circulation in the country has crossed the 1 billion mark for the first time by December 2021 and reached 100.5 crore. Of these, the number of credit cards has increased by 15 per cent to 3.08 crore and the number of debit cards has increased by 9 per cent to 4.5 crore. However, it is not clear how many of these cards, especially debit, are active and whether they are being used for cash withdrawals or payments. The share of private banks in the credit card market is 9% and that of state-owned banks is 5%. Out of the total debit cards, 31% cards have been issued by private banks and 5% by government banks. It is believed that even under Pradhan Mantri Jandhan Yojana, the share of government banks in issuing debit cards to a large number of account holders has increased. 25 million debit cards have been issued for this scheme.

Both the number and amount of card transactions increased

In the year 2021, the number of transactions through various cards has increased in terms of both quantity and amount. Of this, Rs 2.15 billion was transacted through credit cards. 2.5 lakh crore has been transacted. In which the average ticket size per transaction for the year 2020 is Rs. 5 to Rs. 319 has been done. So in the year 2021, the average amount withdrawn from bank ATMs through debit card has decreased by 3% to Rs. 1908 while in the year 2020 this amount is Rs. Was 3. It is clear here that in the year 2021, people have withdrawn less cash from ATMs. Although the average ticket size and transaction value is higher than debit cards, credit cards are the first choice for payment. Interestingly, credit cards are preferred over debit cards when it comes to online payments.

UPI Rs. 3 lakh crore transactions

The trend of online payments through Unified Payments Interface (UPI) has grown rapidly in India following the earlier note ban and subsequent Corona epidemic. In the year 2021, the number of online transactions through UPI has increased by 104 per cent to 2.4 billion and in terms of value, UPI has raised Rs. 6.5 lakh crore has been transacted which shows a tremendous growth of 111 per cent. In the last quarter of 2021, the volume and value of UPI transactions have increased by 100% and 5% respectively. An average of Rs. 3 has been transacted. The number of point-of-sale terminals (PSTs) has been steadily increasing and by the end of December 2021, the total number has increased by 12% to 2.4 lakh. So the total number of QR codes in the country has increased by 8% to 4.5 lakh.

In 2021, categories such as grocery stores, restaurants, garment showrooms, pharmacy-medical stores, hotels, jewelery retail, specialty retail, home appliances and department stores accounted for more than 50% of total value in terms of online transactions. The country has seen a tremendous increase in online transactions due to the festival season from October to December, when sanctions were relaxed after the Corona epidemic subsided.

In the year 2021, the total number of financial transactions through mobile wallet reached 6 billion and it has a total of Rs. 3.1 lakh crore has been transacted. Thus, the number and amount of transactions through mobile wallet has increased by 3% and 3% respectively last year. The number of mobile app-based transactions rose 104 per cent to 2.10 billion. Through which Rs. 12.31 crore digital transactions have been made which shows an increase of 3% on an annual basis. The average amount transacted from a mobile wallet is Rs. Was 3.

Landmark in the year 2021 regarding digital payments

The total number of cards in circulation in 2021 crossed 1 billion

The number of UPI transactions increased by 106 per cent to Rs 3.5 billion, while the value increased by 111 per cent to Rs. 2.5 lakh crore

108% increase in volume for mobile app based transactions

15% increase in internet based payment volume

The average credit card ticket size increased by 15% to Rs. 319 happened

The average withdrawal from a debit card is reduced by 3% to Rs. 1908

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#The shift of the Indian economy from 'cash' to 'cash-less'

[todayknowledgeablenews]

Fear of widening fiscal deficit

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With the government's decision to extend the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKY) till September, the cost of food subsidy for the financial year 206-2 has increased to Rs. 2.5 lakh crore, estimated at Rs. 2.05 lakh crore. Higher global commodity prices and the impact on fertilizer subsidies have put pressure on the central government's fiscal deficit target for next year. If all other estimates remain the same in the Union Budget for 205, then the calculations show that Rs. 30,000 crore expenditure The budget deficit budget has been increased to Rs. 17.5 lakh crore. Earlier it was Rs. 13.5 lakh crore. It will reach 7.5 per cent of Gross Domestic Product (GDP), up from an earlier estimate of 7.5 per cent. Other guesses may change. The budget estimate for fertilizer subsidy in FY 205 starting April 1 is Rs 1.05 lakh crore. This amount may also increase due to increase in commodity prices. Policymakers do not want to give any new figures for this at present, but experts say that at current prices, the Center may have to pay an additional Rs 20,000 crore in fertilizer subsidy.

Prices of major raw materials like phosphate and ammonia are also expected to rise due to steady rise in urea rates and rising crude oil and gas prices. Thus, this amount of subsidy seems insufficient. According to trade sources, the price of Indian gas (pooled gas) could rise from the current ૬ 15 per metric million British thermal units (sasme) to ૮ 15. Estimates show that for every ૧ 1 increase in gas rates, the subsidy for urea is Rs. 2,000 to Rs. Increases to 5,000. Analysts say the epidemic has hit the poor hardest, although the Indian economy is recovering. He also said that global prices would affect the prices of local food items.

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#Fear of widening fiscal deficit

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Much needs to be done to properly assess inflation

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- An improvement in the Consumer Price Index is also long pending

The economy changes structurally over time. In developing countries like India, the pace of change is definitely faster. It is therefore imperative that policy makers understand the nature and pace of change so that timely policy interventions can take place. This is the reason why government departments related to data collection keep improving the methods of estimating economic activities and values. The government is in the process of changing the base year of inflation to 2018-19. The current base year is 2011-12. The proposed change will also help in understanding the changes in wholesale prices.

In addition to changing the base year, the government also intends to increase the scope and size of data collection. Commodities included in the index are expected to grow by about 30 per cent and the manufacturing group will expand significantly. The number of reporting entities related to each commodity in the index is also expected to increase significantly. The above changes will help improve the quality of the index. This will also help in real and more accurate assessment of growth. However, it is not clear why the government did not choose a more updated year to replace the base year. Moreover, at the broader level, much needs to be done to accurately measure changes in prices at different levels.

The wholesale price index serves only a limited number of purposes. It said India should move towards a more representative manufacturing price index, which would help businesses to measure price changes more accurately. It is an index that measures the change in the price of a good or service when it enters or exits the place of production. The wholesale price index, on the other hand, measures price at the level of wholesale transactions. This may include taxes and transportation costs, while the manufacturer's price index actually records the price the manufacturer receives. Such separate indicators can be established for raw materials and final production. In addition, the wholesale price index of services, despite being a significant part of the country's production, is not included. They can be included in the manufacturer price index. In such a situation, it seems appropriate to turn to the product price index to evaluate the change in price at the production level. In recent decades, many countries have adopted a system of productive price indices instead of wholesale price indices. In such a situation, the Government of India should also take such an initiative.

In this context, it is important to mention that the improvement in the Consumer Price Index is also long pending. This was also postponed due to the government's bias regarding the Consumer Expenditure Survey 2016-17. The next phase of the survey was affected by the epidemic. It has also been argued that the current fear does not reflect actual consumption. Since inflation based on the retail price index is an indicator of monetary policy, it is important that the index reflects the real state of consumer prices. In general, it is better for the government to change the base year of the WPI, but more needs to be done to properly assess inflation at various levels.

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#Much needs to be done to properly assess inflation