Hill brooms from Kotia find many takers in Chhattisgarh
JEYPORE: Hill brooms produced by the tribals of Kotia panchayat under Pottangi block in Koraput district have gained significant popularity in neighbouring Chhattisgarh.
A Bilaspur-based agro company, BIOCART, has placed an order for 100 tonne of hill brooms in March following last year's encouraging market response.
According to sources, the Pottangi block administration has actively promoted awareness among the tribal communities of Kotia region, encouraging them to engage in hill broom production to improve their socio-economic conditions. As a result, around 300 tribals have joined the Pottangi Agro Products Producer Company, a unit under the Odisha Rural Development and Marketing Society (ORMAS), to streamline the supply and marketing of hill brooms to other states.
Last year, a trader from Jagdalpur in Chhattisgarh's Bastar sourced over 50 tonne of hill brooms from Kotia, which sold rapidly due to their high quality. Building on this market momentum, BIOCART reached out to ORMAS and placed a large order for 100 tonne of brooms this year.
Sources said the brooms will be procured in phases at Rs 43 per kg, amounting to a total business of approximately Rs 43 lakh this season. The company has already lifted two tonne from Kotia as part of the first phase of the order.
District project manager of ORMAS Roshan Kartik said, 'We have supplied two tonne of hill brooms produced by Kotia tribals and will continue to fulfil the order in phases. More beneficiaries from Kotia will be engaged in the coming months to expand collection of raw materials and production of the brooms in the bordering villages.'
Block development officer of Pottangi Ram Krushna Nayak said the rising demand for Kotia's hill brooms in Chhattisgarh is an encouragement for the tribals to strengthen their economic condition. 'We are committed to supporting the tribal communities of Kotia through various government schemes aimed at better livelihood for them,' he added.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
34 minutes ago
- Time of India
8th Pay Commission salary hike may miss January 2026 deadline: Will it impact fitment factor calculation?
Why the 8th Pay Commission might be delayed beyond January 2026? Live Events Fitment factor Dearness Allowance (DA) to be merged with basic pay Pensioners may see revised benefits What government employees should prepare for For nearly 35 lakh central government employees and over 67 lakh pensioners, the 8th Pay Commission has become a source of speculation. With growing chatter around possible pay hikes and revised pension benefits, expectations are soaring. Despite the excitement, there's still no official word from the government on when the 8th Pay Commission will be constituted, leaving many in employee unions have begun voicing concern over the delay, urging the government to form the Commission well in advance to ensure timely implementation and reduce uncertainty for both employees and 7th Pay Commission, which came into effect in January 2016, was announced nearly two years prior, in February 2014. That timeline gave enough room for report submission, cabinet approval, and a timely rollout. However, as of mid-2025, the 8th Pay Commission is yet to be formed, and the crucial Terms of Reference (ToR), which define the scope and goals of the commission, haven't been finalised officials have confirmed that internal discussions are underway, but given the pace of bureaucratic processes, the rollout may stretch well beyond the expected January 1, 2026 timeline. Even if the Commission is announced by the end of this year, historical patterns indicate a gap of 18-24 months before the recommendations are ready for implementation. At this pace, the hike might only materialise by late 2026 or early to the delay are fiscal constraints, with the government balancing welfare spending, election promises, and fiscal deficit targets. A generous hike could significantly strain the exchequer, prompting policymakers to tread carefully.A major part of the salary revision hinges on the fitment factor, Fitment factor is the number used to recalculate an employee's basic salary. In the 7th Pay Commission, this was set at 2.57, raising the minimum pay from Rs 7,000 to Rs 18,000. Going by the views expressed by various experts 8th Pay Commission could recommend a fitment factor between 2.5 and 2.86. "Considering the inflation factor, there are indications that the fitment factor may stay between 2.5- 2.8 times, which will give a significant boost to employee salaries between Rs 40,000 and Rs 45,000," says Krishnendu Chatterjee, Vice President at the top-end 2.86 figure is accepted, the minimum basic salary could climb to over Rs 51,000. However, due to its fiscal implications, such a steep hike may be challenging. A 2.6x to 2.7x hike appears to be more likely, providing a significant increase while keeping the government's finances in fitment factor for the 7th Pay Commission was 2.57 and the minimum basic salary was hiked to Rs 18,000 from Rs 7,000. For the 6th Pay Commission, the fitment factor was 1.86 and the minimum basic salary was raised from Rs 2,750 to Rs 7, likely shift is the merger of the Dearness Allowance with the basic salary. Currently pegged at around 55% effective from January 2025, DA helps offset the impact of inflation and is revised twice in a year. Before the effective date of 8th Pay Commission early next year, there is one more DA hike is due to be announced in coming months which will be effective from July 2025. When a new Pay Commission is implemented, DA accumulated up to that point is typically merged into the revised basic this increases the overall salary package, it also means future DA hikes start from zero. Employees will see a rise in gross salary and related allowances, such as HRA and transport, but may also experience low DA in the near term. However, a higher base salary will mean that each DA hike will mean a higher increase in implementation of the 8th Pay Commission is not only being eagerly awaited by salaried employees. Nearly 67 lakh government pensioners are also impacted by any revision in the pay scale. Previous Pay Commissions have included changes in pension calculation formulas and benefits, and similar adjustments are expected this time as merger of Dearness Relief (DR) into basic pension also affects pensioners, as their payouts are tied to similar structures. Any revision in the base figures could significantly alter monthly pension employees' associations have echoed the concerns of serving staff, pushing for greater clarity from the government on how pension recalculations will be carried out in the new the uncertainty, a few things seem inevitable. A revised pay structure is coming, but it may take longer than expected. The eventual hike could push minimum salaries up to Rs 40,000 - Rs 45,000, with pension adjustments following suit. DA will reset, but higher allowances may offset the initial flattening in salary government staff would do well to temper expectations, at least in terms of timing. The gains could be significant, but the road to them may be more drawn out than previous 8th Pay Commission is aimed to deliver significant financial changes for government employees and pensioners. Yet, the pace of bureaucracy, pending approvals, and fiscal balancing may delay the implementation beyond the earlier-set target of January 2026.
India.com
34 minutes ago
- India.com
This company's shares gain amid volatility in market
शेयर बाजार में हाहाकार, अरबों डॉलर हुए स्वाहा Mercury EV-Tech Ltd., a Gujarat-based electric vehicle solutions provider, launched a new EV showroom in Bhavnagar. This resulted in a 2.2% share price increase to Rs 62.75 on Tuesday, from the previous closing price of Rs 61.40. However, profit-taking and market volatility led to a significant reduction in gains. At 1:21 pm, shares were trading up 0.5 percent at Rs 61.70 on the BSE. The 52-week high and low are Rs 139.20 and Rs 51.24 per share, respectively. The company boasts a market capitalization exceeding Rs 1,100 crore, with strong Q4FY25 and FY25 financial results. Quarterly net sales surged 451% to Rs 30.68 crore, and net profit increased by 47% to Rs 1.34 crore compared to Q4FY24. Annually, net sales grew 307% to Rs 89.64 crore in FY25, while net profit rose 286% to Rs 7.70 crore compared to FY24. Since reaching its 52-week low of Rs 51.24 per share, the stock has appreciated by 22.5%. FY25 saw new Foreign Institutional Investor (FII) participation, with the acquisition of 36,43,605 shares, representing a 1.92% increase over FY24. The stock has delivered multibagger returns of 6,550% over three years and a remarkable 17,065% over five years.
India Gazette
34 minutes ago
- India Gazette
RBI to discontinue daily Variable Rate Repo from June 11, 2025 because of liquidity surplus in banking system
New Delhi [India] June 10 (ANI): The Reserve Bank of India (RBI) announced on Tuesday that it will discontinue daily Variable Rate Repo (VRR) auctions starting June 11, 2025. The discontinuation of the VRR is due to a liquidity surplus in the banking system reaching approximately Rs 3 lakh crore. RBI said, 'Further, on a review of current and evolving liquidity conditions, it has been decided that the daily VRR auctions, as announced in the above press release, will be discontinued with effect from June 11, 2025, Wednesday'. This decision follows muted demand for daily VRR auctions, with banks bidding only Rs 3,711 crore on June 9, 2025 and Rs 3,853 crore on June 10 against a notified VRR of Rs 25,000 crore. The RBI introduced daily VRR auctions on January 16, 2025, to address liquidity tightness caused by tax outflows and forex interventions. With liquidity now comfortable, the central bank aims to stabilise overnight money market rates, which are trending lower due to the surplus. Market participants expect 14-day VRR auctions to continue to manage short-term liquidity. Additionally, the RBI's recent 100 basis point cut in the Cash Reserve Ratio (CRR) to 3.0 per cent is expected to release Rs 2.5 lakh crore, further supporting liquidity. Variable Rate Repo is a tool used by the RBI to manage short-term liquidity in the banking system. Under this, banks can borrow money from the RBI for a short period by offering government securities as collateral. The interest rate for borrowing is decided through an auction, where banks bid for the amount they want at different rates. The rate is 'variable' because it is determined by the auction rather than being fixed. The RBI used the VRR to inject liquidity into the system during tight liquidity conditions. Now, with money market rates trending lower and banks flush with funds, the central bank is adjusting its operations accordingly. This step aligns with the RBI's neutral policy stance and its strategy to adjust liquidity tools in line with market conditions. (ANI)
