eznews.in
India's wheat procurement has surged by 92.3% to 83.58 lakh tonnes (lt) as of April 16, compared to 43.46 lt last year, following an early start on April 1. The government aims to exceed procurement levels from the past four years, driven by concerns over self-sufficiency after a poor yield in 2021-22. Madhya Pradesh leads with 40.08 lt procured, bolstered by a state bonus of Rs 175 per quintal. Rajasthan and Uttar Pradesh also reported significant increases, while Punjab's procurement rose to 5.29 lt from 74,144 tonnes last year. The Centre has set a target of 312.7 lt for this year, with expectations of surpassing it due to favorable yield reports. However, farmer leaders have raised concerns over distress sales and restrictions on wheat movement. The Agriculture Ministry anticipates wheat production will exceed 115 million tonnes in the 2024-25 crop year. 
Published:
Apr 17 2025, 8 pmeznews.inMumbai International Airport Limited (MIAL) has refuted claims made by the International Air Transport Association (IATA) regarding pressure tactics to shift airline operations to the new Navi Mumbai International Airport (NMIA). In a statement released on Thursday, MIAL emphasized that it has adhered to a transparent and consultative process, engaging stakeholders since 2018 in the master planning of NMIA. The airport operator highlighted that recent operational adjustments, including the suspension of freighter operations and slot reductions for West Asian airlines, are part of necessary infrastructure upgrades overseen by the Airports Economic Regulatory Authority of India. MIAL firmly rejected IATA's insinuations, asserting that airlines retain full autonomy over their network planning and that there has been no attempt to influence traffic movement between the two airports. The NMIA project, envisioned in 1997, is seen as a significant national infrastructure development.
Published:
May 01 2025, 9 pmeznews.inThe Indian government is preparing for the upcoming Census, with the Cabinet Committee on Political Affairs approving the inclusion of caste enumeration. The Union Budget for Fiscal Year 2025-26 allocates over ₹500 crore for Census-related activities, but significantly more funding will be necessary to complete the Census and update the National Population Register (NPR). A 2019 Cabinet decision estimated the Census would cost over ₹8,700 crore, with an additional ₹3,900 crore for the NPR. Originally scheduled for 2020, the Census was postponed due to the pandemic. While no specific timeline has been announced, it is anticipated that the Census will commence before the Bihar Assembly elections later this year. To facilitate this, the government may introduce a Supplementary Demand for Grants (SDG) in the monsoon session of Parliament, a move that reflects the political urgency surrounding the Census process.
Published:
May 01 2025, 10 pmeznews.inIn FY24, India achieved a remarkable milestone by exporting over $435 billion in goods, with electronics, chemicals, and machinery leading the charge. A report by 3one4 Capital projects that India's manufacturing gross value added (GVA) will surge from $459 billion in FY24 to $1.6 trillion by FY2034, fueled by substantial capital investment and government initiatives like the Production Linked Incentive (PLI) scheme. The industrial sector currently contributes 27.6% to GDP, with manufacturing alone accounting for 14.2%. Notably, electronics production reached $115 billion, while auto component exports soared to $20 billion, positioning India as a key player in global supply chains. The chemicals sector is expected to double its market share by 2029, and aerospace manufacturing is gaining traction with innovative start-ups. State incentives are further bolstering regional growth, making India a competitive alternative in the global market.
Published:
May 01 2025, 8 pmeznews.inThe closure of Pakistan's airspace has led to a 45-minute increase in flight durations for IndiGo's services to Baku, Azerbaijan, and Tbilisi, Georgia. Despite this disruption, demand for Central Asian destinations remains strong, with travel companies noting a 2% month-on-month reduction in overall capacity between India and Central Asia in April. IndiGo has temporarily suspended flights from Delhi to Almaty and Tashkent until May 7, while Kazakhstan's Air Astana has introduced three weekly flights from Almaty to Mumbai. Additionally, Azerbaijan Airlines plans to launch a new service between Baku and Ahmedabad in July. Travel experts report that customers are willing to adjust their travel plans rather than change destinations, driven by a desire for culturally rich experiences. Year-on-year, capacity between India and Central Asia has surged by 26%, with Indian and Central Asian airlines operating 18 daily services, predominantly from Delhi.
Published:
May 01 2025, 8 pmeznews.inUS President Donald Trump has indicated a cautious approach towards potential trade deals with India, Japan, and South Korea, asserting that these nations need the US more than vice versa. As negotiations for a bilateral trade agreement (BTA) with India loom, the US Commerce Department is scrutinizing India's tariffs and trade restrictions, particularly on agricultural products. Trump emphasized his lack of urgency, stating, "We are sitting on the catbird seat," while expressing optimism about ongoing tariff negotiations with India. Top US officials have described the deal as "close," urging India to reduce tariffs on various goods, including automobiles and agricultural products. However, Indian negotiators face challenges due to domestic sensitivities surrounding food security. Following Trump's announcement of reciprocal tariffs on countries with trade surpluses, including a 26% levy on India, a 90-day pause has been granted to facilitate trade discussions, with in-person meetings scheduled for late May.
Published:
May 01 2025, 8 pmeznews.inIndia's Securities and Exchange Board of India (SEBI) is set to implement new rules on related party transactions (RPTs) in July, significantly expanding compliance requirements for companies. The regulations now encompass entities related in the past financial year, increasing the number of transactions subject to scrutiny. Experts warn that the heightened disclosure demands, including independent valuations and fairness opinions, could slow decision-making and inflate costs, particularly for mid-sized and promoter-driven firms. The ambiguity surrounding what constitutes an "arm's-length" transaction raises concerns about potential disputes among management, audit committees, and regulators. Additionally, the increased responsibilities placed on audit committee members and independent directors may deter qualified professionals from these roles. Critics, including former SEBI chairman M. Damodaran, have expressed concerns over the potential for regulatory overreach, as the rules may hinder legitimate business activities while aiming to enhance transparency and protect investors.
Published:
May 01 2025, 8 pmeznews.inWater levels in over 80% of India's 161 major reservoirs have fallen below 50%, with overall storage at just 33.36% of their total capacity, according to the Central Water Commission (CWC). This week, 105 reservoirs reported storage below 40%, while Tamil Nadu's reservoirs led with a healthier 64.36%. The northern and eastern regions are particularly affected, with levels below 30%, although the northern region saw a slight increase this week. The CWC noted that while current levels are higher than last year and the 10-year average, the India Meteorological Department forecasts above-normal temperatures in May, which could exacerbate the decline. However, timely onset of the South-West monsoon, expected around June 1, could improve conditions. The central and western regions fared better, with Madhya Pradesh and Goa reporting over 40% storage, while Maharashtra struggled at 26.23%.
Published:
May 01 2025, 8 pmeznews.inThe Indian Power Ministry has mandated that imported coal-based (ICB) power plants operate at optimum capacity until June 30, 2025, in response to anticipated increases in power consumption during the summer months. This directive extends the previous requirement for full capacity operation until April 30, reflecting a trend established in recent years. The demand for electricity typically surges from April to June and again from August to October due to hot and humid weather conditions. As of April 30, 2025, India's domestic coal-based power plants hold 53.34 million tonnes of domestic coal and 9.75 lakh tonnes of imported coal, with daily consumption rates of 2.76 million tonnes. Meanwhile, ICB plants, with a capacity of nearly 18 GW, have critical stock levels and are consuming 1.82 lakh tonnes daily. Notably, thermal coal imports reached a 10-month high in March 2025, as the power sector prepares for peak demand.
Published:
May 01 2025, 6 pmeznews.inIndia's diesel consumption reached 8.239 million tonnes in April 2025, marking the second highest level on record, driven by increased activity in farming, industry, mining, and commerce. This figure represents a 2% month-on-month rise and nearly 4% year-on-year growth, with diesel accounting for over 40% of the nation's refined petroleum usage. The previous peak was 8.412 million tonnes in May 2024, influenced by demand during the Lok Sabha elections. Meanwhile, petrol consumption rose by approximately 5% year-on-year to 3.435 million tonnes, although it saw a decline of over 2% month-on-month. Analysts attribute the surge in diesel use to heightened industrial and mining activities, particularly for coal, alongside seasonal agricultural demands. Additionally, aviation turbine fuel (ATF) consumption increased by over 3% to 766,000 tonnes, with expectations of an 11% annual growth in FY26, reflecting rising affluence in the country.
Published:
May 01 2025, 7 pmeznews.inThe Indian sugar industry is facing a significant downturn, with 18 sugar factories closing in the past fortnight, leading to an estimated total production of 26 million tonnes (mt) by September 30. Data from the National Federation of Cooperative Sugar Factories (NFCSF) reveals a sharp 18.34% decline in sugar output from October 2024 to April 2025, dropping to 25.7 mt from 31.47 mt the previous year. Uttar Pradesh, the largest producer, has seen 111 of its 122 factories cease operations, yielding 9.25 mt of sugar from 94.8 mt of crushed cane. Meanwhile, Maharashtra and Karnataka have also concluded most of their crushing operations, with production figures of 8.1 mt and 4.04 mt, respectively. The NFCSF has called for a revision of the Minimum Selling Price of sugar and ethanol procurement prices, while the average ex-mill sugar price currently stands between ₹3,880 and ₹3,930 per quintal.
Published:
May 01 2025, 7 pm
For the fastest, latest, not so wokest news, 'experts say' you need to visit Eznews
India
World
Economy
Science
Health
Showbiz
Contact