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Economic Times
a day ago
- Business
- Economic Times
Niti Aayog withdraws paper on GM crop imports, signals govt's hard line on biosafety
The Niti Aayog has withdrawn a working paper that proposed allowing imports of genetically modified (GM) soybean and corn from the United States, signalling the government's firm position against opening India's market to transgenic food products over biosafety concerns, as per move comes despite US pressure in trade talks to ease what it sees as a non-tariff barrier, and despite Niti Aayog's own assessment that such imports could be allowed without harming domestic paper, Promoting India-US agricultural trade under the new US trade regime, was released in May and co-authored by Ramesh Chand, a Niti Aayog member, and senior adviser Raka Saxena. It suggested that GM corn could be imported for ethanol blending and for by-products such as Distiller's Dried Grains with Solubles. 'US corn is cheaper and can be used to meet India's biofuel targets without disrupting local food and feed markets,' the authors the paper carried a disclaimer that the views were personal, its removal from the think tank's website reflects the government's reluctance to shift policy on GM food crops. At present, India permits commercial cultivation of only one GM crop — transgenic cotton, which is a non-food commodity. The government's position aligns with the Swadeshi Jagaran Manch (SJM), an affiliate of the Rashtriya Swayamsevak Sangh, which has consistently opposed both the cultivation and import of GM food products. The SJM has, in the past, found common cause with several left-leaning farm groups on this issue. The withdrawn paper had also suggested a 'dual-track' approach to agricultural trade negotiations with the US, pushing for selective imports of non-sensitive items that do not compete with local production, such as almonds, pistachios, and enjoys a surplus in agricultural trade with the US, a gap that has widened over the years. Between 2004 and 2024, India's farm exports to the US grew nearly fivefold, from $1.18 billion to $5.75 billion. Imports from the US rose faster, from $291 million to $2.22 billion over the same period.
Time of India
a day ago
- Business
- Time of India
Niti Aayog withdraws paper on GM crop imports, signals govt's hard line on biosafety
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The Niti Aayog has withdrawn a working paper that proposed allowing imports of genetically modified (GM) soybean and corn from the United States, signalling the government's firm position against opening India's market to transgenic food products over biosafety concerns, as per move comes despite US pressure in trade talks to ease what it sees as a non-tariff barrier, and despite Niti Aayog's own assessment that such imports could be allowed without harming domestic paper, Promoting India-US agricultural trade under the new US trade regime, was released in May and co-authored by Ramesh Chand, a Niti Aayog member, and senior adviser Raka Saxena. It suggested that GM corn could be imported for ethanol blending and for by-products such as Distiller's Dried Grains with Solubles. 'US corn is cheaper and can be used to meet India's biofuel targets without disrupting local food and feed markets,' the authors the paper carried a disclaimer that the views were personal, its removal from the think tank's website reflects the government's reluctance to shift policy on GM food present, India permits commercial cultivation of only one GM crop — transgenic cotton, which is a non-food commodity. The government's position aligns with the Swadeshi Jagaran Manch (SJM), an affiliate of the Rashtriya Swayamsevak Sangh, which has consistently opposed both the cultivation and import of GM food products. The SJM has, in the past, found common cause with several left-leaning farm groups on this withdrawn paper had also suggested a 'dual-track' approach to agricultural trade negotiations with the US, pushing for selective imports of non-sensitive items that do not compete with local production, such as almonds, pistachios, and enjoys a surplus in agricultural trade with the US, a gap that has widened over the years. Between 2004 and 2024, India's farm exports to the US grew nearly fivefold, from $1.18 billion to $5.75 billion. Imports from the US rose faster, from $291 million to $2.22 billion over the same period.
Time of India
2 days ago
- Business
- Time of India
Niti withdraws paper on GM crops import from US, signals govt stand
NEW DELHI: The Niti Aayog's recent withdrawal of its working paper, which had suggested opening up import of genetically modified (GM) soybean and corn from the US, has given a peek into India's red-line on transgenic food items. Though the US, during its trade negotiations with India, considered the stand as one of the non-tariff trade barriers, India preferred not to open up its market for GM food items over biosafety concerns, notwithstanding its primary think tank arguing in favour of import of transgenic soybean and corn without harming domestic production. The working paper on 'promoting India-US agricultural trade under the new US trade regime', released in May, had suggested that GM corn may be imported for ethanol blending and its by-products, like Distiller's Dried Grains with Solubles. "US corn is cheaper and can be used to meet India's biofuel targets without disrupting local food and feed markets," said the authors - Raka Saxena and Ramesh Chand - of the working paper. Chand is member, Niti Aayog, while Saxena is senior adviser at the think tank. Although the paper used a disclaimer terming the content as personal views of authors, its recent withdrawal from the think tank's website reflects govt's thinking on the issue of GM products. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like These Are The Most Beautiful Women In The World Undo India currently allows commercial cultivation of only transgenic cotton, a non-food farm item. Govt's stand is in sync with RSS-affiliate Swadeshi Jagaran Manch's opposition to the cultivation and import of GM farm products. In its opposition to transgenic food items, the SJM has even joined hands with several left-leaning farm groups in the past. The working paper had pitched for a "dual-track" approach while negotiating the trade deal on agricultural items with the US and appeared keen on opening the country's market to specific non-sensitive imports of farm products that do not face direct competition from local producers, such as almonds, pistachios, and walnuts. India has maintained a surplus in agriculture trade with the US and it has increased over time. India's agricultural exports to the US grew nearly fivefold between 2004 and 2024, from $1.18 billion to $5.75 billion, while imports however, grew faster - from $291 million in 2004 to $2,218 million in 2024.
Time of India
02-08-2025
- Business
- Time of India
Property prices in Lucknow rise up to 25% as revised circle rates take effect
LUCKNOW : Property prices in Lucknow will see an increase of up to 25 per cent from Friday with the implementation of revised circle rates -- the minimum cost of a property to determine the stamp duty charges. Under the latest rate revision that has come after 10 years, circle rates have been increased in the range of 15-25 per cent, depending on the area and the type of the property. Circle rates in Lucknow were last revised in 2015, Assistant Inspector General of Stamps Ramesh Chand said. "The price of agricultural land has increased by 15 per cent, while the prices of land meant for housing (non-agriculture) have seen a rise of 20 per cent to 25 per cent," Chand told PTI. He further said the rates have been revised as per the potential of the particular area. As far as the quantum of percentage increase is concerned in this year's revision, it is almost the same as that of 2015, Chand said. The rates have been revised on three parameters. The first category is non-agriculture land located along roads that are less than 9 metres in width. Other properties have been classified as 'ordinary' and 'premium'. Flats or apartment complexes that house any two facilities out of swimming pool, club, gym and segment road are counted in the premium category, and the construction cost will also be applicable likewise. "The flats which do not have these facilities will come under the ordinary category," Chand explained. Premium category properties in Ashok Marg saw a revision of 25 per cent (from Rs 26,000 per sq m to Rs 32,500 per sq m), while the ordinary category property rates have been revised from Rs 24,000 per sq m to Rs 30,000 per sq m. Land under non-agriculture category located along roads with less than 9 metres of width in Ashok Marg will now be priced 10 per cent higher from Rs 30,500 per sq m to Rs 33,500 per sq m. Rates in Gulistan Colony have been increased by 29 per cent for both premium as well as ordinary categories. Indiranagar Sector-1 properties have witnessed an increase of 31 per cent in the circle rates, while those at AP Sen Road and Clay Square areas saw a hike of 29 per cent.
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Business Standard
01-08-2025
- Business
- Business Standard
Lucknow property prices surge up to 25% as revised circle rates kick in
Property prices in Lucknow will see an increase of up to 25 per cent from Friday with the implementation of revised circle rates -- the minimum cost of a property to determine the stamp duty charges. Under the latest rate revision that has come after 10 years, circle rates have been increased in the range of 15-25 per cent, depending on the area and the type of the property. Circle rates in Lucknow were last revised in 2015, Assistant Inspector General of Stamps Ramesh Chand said. "The price of agricultural land has increased by 15 per cent, while the prices of land meant for housing (non-agriculture) have seen a rise of 20 per cent to 25 per cent," Chand told PTI. He further said the rates have been revised as per the potential of the particular area. As far as the quantum of percentage increase is concerned in this year's revision, it is almost the same as that of 2015, Chand said. The rates have been revised on three parameters. The first category is non-agriculture land located along roads that are less than 9 metres in width. Other properties have been classified as 'ordinary' and 'premium'. Flats or apartment complexes that house any two facilities out of swimming pool, club, gym and segment road are counted in the premium category, and the construction cost will also be applicable likewise. "The flats which do not have these facilities will come under the ordinary category," Chand explained. Premium category properties in Ashok Marg saw a revision of 25 per cent (from Rs 26,000 per sq m to Rs 32,500 per sq m), while the ordinary category property rates have been revised from Rs 24,000 per sq m to Rs 30,000 per sq m. Land under non-agriculture category located along roads with less than 9 metres of width in Ashok Marg will now be priced 10 per cent higher from Rs 30,500 per sq m to Rs 33,500 per sq m. Rates in Gulistan Colony have been increased by 29 per cent for both premium as well as ordinary categories. Indiranagar Sector-1 properties have witnessed an increase of 31 per cent in the circle rates, while those at AP Sen Road and Clay Square areas saw a hike of 29 per cent.
