Bangalore: Software industry leader NR Narayana Murthy on Sunday appeared to have joined the debate on policy paralysis at the Centre when he said the government has not been able to provide clarity on definition of software exports for over a year now causing inconvenience to the industry. "I have tremendous faith in Finance Minister Pranab Mukherjee, who is an excellent minister and an excellent person. But it has been...
04:24 AM, May 21, 2012
New Delhi: The government in a high level meeting chaired by Prime Minister Manmohan Singh decided to free sugar exports by removing quantitative restrictions in order to expedite shipments of the sweetener. This came after Agriculture Minister and NCP chief Sharad Pawar shot off an angry letter terming the UPA's policy on agriculture exports 'ambivalent' and 'against the interest of the farming community'. Importantly, Pawar had termed the Food Ministry's...
06:59 AM, May 03, 2012
New Delhi: The government on Wednesday decided to free sugar exports by removing quantitative restrictions in order to expedite shipments of sweetener and also scrapped the minimum export price (MEP) on onion. The government also decided to constitute a committee, headed by Prime Minister's Economic Advisory Council (PMEAC) Chairman C Rangarajan, for formulating policy on how to handle surplus foodgrains in government godowns. These decision were taken at a high...
09:51 PM, May 02, 2012
New Delhi: India decided to allow fresh cotton exports after a Group of Ministers meeting convened by the Prime Minister discussed the issue on Monday. Post meeting, Commerce Minister Anand Sharma said that India will allow "fresh cotton export registration". The GoM will now review the situation based on revised estimates and figures of crop size. The Opposition raised the issue in Parliament on Monday with JDU leader and NDA...
01:25 PM, Apr 30, 2012
New Delhi: Ahead of the Prime Minister's meeting on food stock, cotton and sugar, the issue was raised in Parliament on Monday. JDU leader and NDA convener Sharad Yadav demanded that the government open a war room to deal with the crisis faced by cotton farmers. He pointed out that although there had been record production of cotton over the past one year, there was no proper storage space and...
12:59 PM, Apr 30, 2012
New Delhi: Acute power crisis is threatening to cripple Tamil Nadu's leather exports. Hundreds of companies in Tamil Nadu's leather belt have been hit by power shortages, leading to as much as a 25 per cent increase in production costs. Enco Shoes is a medium sized leather unit in a state that is India's leader in leather exports. K Najmul Hasan, MD, Enco Shoes, says, "There are just about 50-60...
07:59 AM, Apr 18, 2012
New Delhi: Prime Minister Manmohan Singh has called a meeting of Finance Minister Pranab Mukherjee, Agriculture Minister Sharad Pawar, Commerce and Textiles Minister Anand Sharma and Food Minister KV Thomas on April 23 to address the concerns reflected in Pawar's letter to him earlier this month. Pawar had termed UPA's agriculture policy on exports 'ambivalent', 'constantly prevaricating' and 'against the interests of the farming community'. Pawar, in his letter, took...
11:32 PM, Apr 16, 2012
New Delhi: Irked by curbs on milk, cotton and sugar exports, Agriculture Minister Sharad Pawar has shot off a letter to Prime Minister Manmohan Singh stating that the government's policies are hurting farmers who are being asked to subsidise the industry. Pawar wrote to the Prime Minister on Tuesday, a day after group of ministers disallowed cotton export beyond 13 million bales for the current marketing year. He strongly criticised...
06:55 AM, Apr 12, 2012
New Delhi: The union government will offer tax incentives to exporters for sales in rupees to Iran, in the latest effort by New Delhi to bolster exports in return for oil from the Islamic Republic squeezed by Western sanctions, a finance ministry official said. Following US and European Union sanctions against Tehran over its nuclear programme, New Delhi is under pressure to cut oil imports from its second-biggest supplier, which...
01:49 AM, Apr 08, 2012
New Delhi: Government's decision to ban cotton exports on Monday triggered an uproar in the Lok Sabha which saw Commerce Minister Anand Sharma launch a spirited defence of the measure, which had to be rolled back after strong resistance from some chief ministers. "Ninety per cent of our cotton has gone out of the country. From next month there will be no cotton left in the markets. Textile mills in...
05:45 PM, Mar 19, 2012
New Delhi: The government on Sunday lifted its ban on cotton exports, with Commerce Minister Anand Sharma saying that the interests of the farmers, traders and industrialists had been kept in mind to make a balanced decision. "Keeping in view the interests of farmers, traders and industrialists, a balanced view had been taken to roll back the ban on cotton exports," he said. A formal announcement with regard to the...
01:57 PM, Mar 11, 2012
Viramgam: Lakhubhai Mori of Kaliyana village is a worried man. Half his cotton crop has been harvested, the other half is standing. But cotton prices have crashed after the Central Government's decision to ban cotton exports. In 2011, 20 kilos of cotton earned Lakhubhai Rs 1100. Today, he will get just Rs 500. Lakhubhai says, "The cost of labour and fertilisers are increasing every year, but the returns are going...
10:13 AM, Mar 11, 2012
New Delhi: The ban on cotton export is likely to be lifted on Friday but the question right now is that, was the decision not a conflict of interest for Commerce Minister Anand Sharma who heads both the Commerce and Textiles ministries? Sharad Pawar, Pranab Mukherjee and Anand Sharma met for almost two hours on the directions of the Prime Minister to review the Commerce Ministry's decision to ban cotton...
06:31 AM, Mar 10, 2012
New Delhi: The ban on cotton exports is likely to be lifted on Saturday, according to sources. The Group of Ministers (GoM) meet to review the ban on cotton exports remained inconclusive on Friday. As a result of this the ban stays till any decision is taken in more meetings to be held. The meeting came after Agriculture Minister Sharad Pawar said he was kept in the dark about the...
08:58 PM, Mar 09, 2012
New Delhi: A Group of Ministers (GoM) met on Friday to review the controversial decision of banning cotton exports. The meeting came after Agriculture Minister Sharad Pawar said he was kept in the dark about the ban. Prime Minister Manmohan Singh had asked the Commerce Ministry's decision to ban cotton exports to be reviewed. Commerce Minister Anand Sharma defended the decision saying textile mills were carrying their lowest ever stocks...
05:46 PM, Mar 09, 2012
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