Latest news with #SanjeevChopra
The Print
4 days ago
- Business
- The Print
Govt cuts import duty on crude edible oils to 10 pc; move to cool prices, protect local industry
India imports more than 50 per cent of its domestic edible oil requirement. Earlier, the duty on these three crude edible oils was 20 per cent. New Delhi, May 30 (PTI) The Centre on Friday reduced the basic custom duty on crude palm oil, crude soyabean oil and crude sunflower oil to 10 per cent, a move aimed at bringing down the retail prices of cooking oils and protecting domestic processors. India imported 159.6 lakh tonnes of edible oils during the 2023-24 oil marketing year (November to October), valuing Rs 1.32 lakh crore. A notification in this regard was issued by the finance ministry on Friday with immediate effect. When contacted, Union Food Secretary Sanjeev Chopra said the government has slashed the basic custom duty on crude edible oils to 10 per cent from 20 per cent. Industry body Solvent Extractors Association of India's (SEA) executive director B V Mehta said the basic custom duty on crude palm oil, crude soyabean oil and crude sunflower oil has been reduced to 10 per cent from the earlier 20 per cent. The effective import duty (including the basic custom duty and other charges) on these three products will now be 16.5 per cent as against the 27.5 per cent earlier. The basic custom duty on refined oil remains unchanged at 32.5 per cent. At present, the effective duty on refined oils is 35.75 per cent. Industry bodies SEA and the Indian Vegetable Oil Producers' Association (IVPA) welcomed the decision. They have been demanding increasing the duty difference between the crude and refined edible oils to protect the domestic processors. In a late-night statement, SEA president Sanjeev Asthana said, 'The government's decision to increase the duty differential between crude and refined oils from 8.25 per cent to 19.25 per cent is a bold and timely move. It will discourage imports of refined palmolein and shift demand back to crude palm oil, thereby revitalising the domestic refining sector.' The reduction in duty on crude oil will help reduce domestic prices, benefiting consumers, he added. Mehta pointed out that imports of refined palm oil have risen of late, because it is cheaper than the crude palm oil. India imports palm oil from Malaysia and Indonesia. Soyabean oil comes from Brazil and Argentina. IVPA president Sudhakar Desai said, 'We thank the government for accepting the IVPA recommendation to increase the duty differential between crude and refined edible oils to 19.25 per cent.' It is a significantly bold move towards ensuring Make in India and also protecting the sector from the influx of refined oils, causing capacity injury to the vegetable oil sector, Desai said. 'This is a win-win situation for vegetable oil refiners and consumers, as the local price will go down due to the lower duty on crude oils,' Mehta said. On September 14, 2024, the basic custom duty on crude soyabean oil, crude palm oil and crude sunflower oil was raised from 0 per cent to 20 per cent. PTI MJH RC This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
&w=3840&q=100)
Business Standard
21-05-2025
- Politics
- Business Standard
Sanjeev Chopra's book details Shastri's many contributions to nation, party
The 1965 war, Pakistan's second attempt to seize Kashmir, ended in Tashkent with Lal Bahadur Shastri returning the Haji Pir Pass - a gesture that disappointed even his family Listen to This Article The Great Conciliator: Lal Bahadur Shastri and the Transformation of India by Sanjeev Chopra Bloomsbury 370 pages ₹899 India's stated policy is that there can be no international intervention to resolve the Kashmir issue — that it can only be done bilaterally. Variations on this theme range from total rejection of any international intervention to tentative acceptance of technical assistance. But the reality is that in past wars (including near-wars/skirmishes/standoffs) with Pakistan, pressure, even direct intervention, from foreign powers has contributed significantly to ending them. The most manifest evidence of this was the 1965 war that concluded with the Soviet Union-brokered Tashkent Agreement
New Indian Express
02-05-2025
- Business
- New Indian Express
Centre increases wheat procurement, restricts sugar export up to 8 LMT
The government's wheat procurement has seen a notable increase this year, bringing some relief after three consecutive years of struggling to maintain adequate stock. As of now, procurement has reached 256.31 lakh metric tonnes (LMT), a significant rise from 205 LMT on the same date last year. However, this still falls short of the government's target of 312 LMT for the current Rabi marketing season. Higher procurement figures have been reported from all five major wheat-producing states—Punjab, Haryana, Madhya Pradesh, Rajasthan, and Uttar Pradesh, which together account for 65 per cent of the country's wheat production. So far, 21.03 lakh farmers have benefited from the procurement, receiving a total payout of Rs. 62,155.96 crore under the Minimum Support Price (MSP) scheme. Punjab has contributed 103.89 LMT, Haryana 65.67 LMT, Madhya Pradesh 67.57 LMT, Rajasthan 11.44 LMT, and Uttar Pradesh 7.55 LMT to the central pool so far. According to Sanjeev Chopra, Secretary of the Ministry of Food and Public Distribution, the government is on track to surpass last year's total procurement as a considerable window still remains open in the current season. Chopra said," The increased procurement to awareness campaigns about MSP and ensured that farmers receive payments within two days. This year, the MSP for wheat has been set at Rs. 2,425 per quintal." Despite the current progress, concerns remain over the impact of adverse weather conditions on wheat procurement in recent years. In the 2022-23 season, the government procured only 187 LMT against a target of 444 LMT. In 2023-24, the procurement reached 262 LMT against a target of 341 LMT. For 2024-25, the figure stands at 267 LMT against the 320 LMT target.
The Hindu
01-05-2025
- Business
- The Hindu
Bumper harvest, wheat procurement to cross target: Food Ministry
The procurement of wheat for the 2025-26 season is proceeding smoothly in the major procuring States, the Union Food Ministry stated here on Thursday (April 1, 2025). So far, 256.31 lakh metric tonnes (LMT) of wheat have been procured for the Central pool against a target of 312 LMT set for this season. Addressing a press conference, Union Food Secretary Sanjeev Chopra expressed confidence in a bumper harvest and added that the procurement is expected to meet the target. When asked about restoring the wheat entitlement for States under the public distribution system (PDS), he said the Centre would review the situation after the procurement process concluded. Mr. Chopra added that the quantity of wheat procured up to April 30 this year had surpassed last year's procurement of 205.41 LMT recorded on the same date. The increase in procurement stands at 24.78%, and all major wheat-procuring States, namely Punjab, Haryana, Madhya Pradesh, Rajasthan, and Uttar Pradesh, have procured more wheat this year compared to the same period last year. Regarding Uttar Pradesh, where public procurement faced hurdles in recent years due to significant buying by private players, Mr. Chopra noted that 7.55 LMT of wheat have been procured from the State so far this season, exceeding last year's figure for the comparable period. The Ministry stated that 21.03 lakh farmers have benefited this season, with a total Minimum Support Price (MSP) outflow amounting to ₹62,155.96 crore. 'Major contributions to the procurement came from five procuring States, viz., Punjab, Haryana, Madhya Pradesh, Rajasthan, and Uttar Pradesh, with procurements of 103.89 LMT, 65.67 LMT, 67.57 LMT, 11.44 LMT, and 7.55 LMT, respectively,' the Ministry detailed in a release. Mr. Chopra attributed the enhanced procurement to concerted efforts by his department. He elaborated that State-specific action plans, based on learnings from previous years, were shared with the States well in advance. He added that farmers received payments within 24 to 48 hours, and procurement centres were established at the village level in many districts. On the question of lifting the ban on wheat exports, he commented that it would be premature to discuss allowing such exports at the present time.
&w=3840&q=100)
Business Standard
01-05-2025
- Politics
- Business Standard
Indian farmers complete wheat harvest near Pak border amid tensions
Indian farmers have completed wheat harvesting in areas adjoining the Pakistan border in the key growing states of Punjab and Rajasthan, government officials said on Thursday. "Wheat crop has been harvested by now," Food Secretary Sanjeev Chopra said at a press conference when asked about the status of harvesting near the India-Pakistan border, which spans approximately 3,310 kilometres across Gujarat, Rajasthan, Punjab, and Jammu and Kashmir. While no separate data on the total wheat quantity harvested from border areas is available, Agriculture Commissioner Praveen Kumar Singh noted that Punjab has a significant area under wheat cultivation near the border compared to other states. "Farmers have harvested the crop. The yield is better this time," Singh told PTI. In Rajasthan, wheat cultivation primarily occurs in the Ganganagar district near the border, along with Hanumangarh and Jaisalmer. A Rajasthan government official confirmed that "farmers have fully harvested their crops". Sources said wheat farmers in these border states were asked to expedite harvesting due to heightened tensions between India and Pakistan, following the deadly attack in Pahalgam, Kashmir, on April 22. The early harvest directive was part of precautionary measures taken by authorities in response to the security situation along the international border.
