The surge in wheat export from India owing to the Ukraine crisis has once again demonstrated how farmers in states that have flexible marketing frameworks and low taxes benefit more from an emerging situation. The bulk of the wheat exported from India, trade and industry sources say, is being sourced at rates significantly higher than the state-mandated price of Rs 2,015 per quintal in Madhya Pradesh (MP), Uttar Pradesh (UP), and Gujarat - states which have low mandi taxes compared to Punjab and Haryana. This is not only benefiting farmers there but could also lead to significant savings for the states in procurement costs in the months to come.
While the mechanism of auctioning commodities like coal and electricity and telecom spectrum at electronic platforms has brought in transparency in their allocation, experts believe that the strategy cannot fructify until the prevailing shortfall in their availability is met.
For India, the ideal inflation rate would be 4-5 per cent although it may be difficult to attain, the minister said while inaugurating the Economic Editors' Conference in New Delhi.
It's time to upgrade your vocabulary too!
Pacific Rim is possibly the best and the grandest belated gift a man can offer his childhood, writes Sukanya Verma.
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