Market and Business News

- Commodity Current : Jayavadan Gandhi Production of kharif crops for the year 2022-23 is estimated to decline by an average of two percent. The government is keeping a close eye on the survey of the production of spices, telebia and grain crops. However, according to the survey, there is a possibility of a significant decrease in grain production by 13 to 14 percent. However, the possibility of increasing kharif production of crops like cotton, maize and soybeans has also been expressed. In the year 2022-23, out of the total production estimated to be around 64 crore tonnes, it has been revealed that the lack of rain in the major grain producing states like Uttar Pradesh, West Bengal, Bihar is responsible for the decrease in grain production to around 9.60 crore tonnes. A decrease of 3 to 7 percent is observed in the total production of castor and groundnut in oilseed rape. However, with an average rise of 4 to 5 per cent in soybean production, this year's kharif season is likel

- Lokabhimukha Guidance : H.S. Patel IAS (Retd.) - The power sector of Gujarat needs to be assessed separately in the Central Amendment Act The Electricity Act- 1910 was enacted during the British rule in our country, which was mainly a regulatory law. After a long period, a consolidated law of 2003 was enacted and in this law, for the first time, provisions were made for electricity consumers to receive electricity supply in a quality-reliable and economical form along with the provision of consultation process and submissions through the Electricity Regulatory Commission in determining the tariff. . But finally the law is formulated by the central government, but its implementation has to be done by the states within the framework of the federal structure. So even today, even though provisions have been made to manage the power sector on a non-political, apolitical basis, due to the inefficient management of the government-owned power companies, the consolidated financial loss of

- Confusion of economics: Dhawal Mehta Not only in Britain but also in America, the high rate of inflation has disturbed people. The central bank there (Federal Reserve System) has taken more stringent measures. And if the bank raises the rate again, there is a possibility that America will fall into recession. America is currently in an economic slowdown but not a recession. The Ukraine-Russia conflict has caused economic damage not only to these two countries but to all peoples and governments living in the world. As many countries of the European Union depend on Russian oil and gas, they and especially Germany are likely to suffer more. If Russia does not provide sufficient gas and oil supplies to Germany in time, millions of German citizens will die in the cold from the beginning of winter due to lack of fuel. Can Russia be held responsible not only for the direct damage caused by its invasion of Ukraine but also for the indirect damage caused to the countries of the world? The o

- Smile Index : Vanity - We turn adversity into opportunity - If the consultancy of event management is given abroad, the dollar will go down - An urgent meeting was called in the Ministry of Finance as the rupee reached 81. 'Be free. Keep an eye out. ' A new officer says, 'Sir, even if we are free, why is the rupee falling so much?' The old officer was offended. 'If we had to bring down the rupee, we would not have brought it down in all these years?' 'But sir, it seems to me that the rupee has reached 100. ' 'There you are. We have also started advance planning with foresight.' 'Planning? But this condition of the rupee?' 'My dear, planning means planning the event of reaching 100 rupees. Over the years we have learned to turn any disaster into an opportunity and turn it into a big event. After all, being happy and celebrating is life itself. Gone are the days of mourning. Now are the days to celebrate all that is great,

- Despite many concessions and concessions to MSMEs, they quickly become vulnerable to economic shocks - Through schemes like ECLG, there is pressure on banks, especially government banks, to disburse credit. A recent report revealed that one out of every six loans extended to Micro, Small and Medium Enterprises (MSMEs) under the Emergency Credit Line Guarantee (ECLG) scheme has gone bad. It was also reported that most of the MSME loans converted into bad loans in the last 27 months were of less than Rs.20 lakh. 16.40 percent or 16 lakh loans have become non-performing assets (NPA) out of the total 98 lakh loans released by National Credit Guarantee Trustee Company Ltd. (NCGTC) has declared. NCGTC has been constituted to monitor these loans. In May 2020, the government announced the ECLG scheme to provide support to MSMEs during the Corona period. The two-year moratorium on loans under this scheme was over. The government has provided a guarantee against the loans secured under ECL

- Antenna : Vivek Mehta - Centre's order not to use red brick for constructions larger than 20,000 square meters: The brick kiln industry is also upset with the decision to increase the Goods and Services Tax from 5 percent to 12 percent. The brick kiln industry is upset over the central government's February 22 notification ordering a ban on the use of red bricks for projects larger than twenty thousand square meters of construction. Gujarat Bricks Manufacturers Federation says, 'Gujarat has 1200 big brick kilns, which produce 30 to 40 lakh bricks or more annually. In contrast, the number of units is around 25,000, producing only two to three lakh bricks per year. Their existence is threatened.' A letter has also been written to Prime Minister Narendra Modi in this regard. Secondly, as the Finance Ministry has decided to increase the Goods and Services Tax on red bricks and tiles produced in brick kilns from 5 percent to 12 percent by issuing a notification dated 3

- Industrial Guidance : Dhiru Parekh Formic acid- (hydrogen carboxylic acid, methanoic acid). Porpty- Colorless, fuming liquid, penetrating order, soluble in water, alcohol and ether. Derivation- Distillation is done by treating sulfuric acid with sodium formate and sodium acid formate at low-temperature. Uses- Textile dyeing, finishing, leather treatment, insect side, lacquer, electroplating, brewing (antiseptic), silvering glass, thickening of natural latex and vinyl resin plasticizer. Formic Acid - Formic acid protects the foodstuff against spoilage and toxin-causing microorganisms. - Helps remove paint and rust from metallic surfaces. Also works to remove scale of kettle (kettle) and boiler. Used as a brewery and winery disinfectant. - Used in pharmaceutical industries for PS regulators and for cleaning purposes. Which helps in removing dust. Formic acid is biodegradable. - Formic acid is used extensively in leather industries. Here this acid works by de-greasing and removi

- Air pollution problem will arise again in next October-November The paddy harvesting season is almost upon us and there seems to be no way to stop farmers from burning crop residues in any of the rice growing states of North India. Burning of stubble in the National Capital Region in October-November every year poses a serious problem of air pollution. Burning of crop residues releases large amounts of smoke and toxic gases, causing many serious diseases including eye irritation, respiratory problems. The Delhi and Punjab governments offered to spray paddy fields with a microbial-based decomposer developed by the Indian Agricultural Research Institute, but farmers rejected it as impractical. In fact, this process takes 20 to 25 days for the crop residue to decompose and farmers cannot wait that long to sow the next crop. The use of crop residue management machinery appears to be a viable solution, but may not be suitable for farmers without financial support due to the additional

When the corona epidemic is almost over, India's economy is recovering well in phases compared to other countries of the world, then it is necessary to increase the investment in various sectors of the country from the government and private sector to support the recovery. To increase investment in the country, the government has announced incentives like Production Linked Incentive (PLI) Scheme, National Infrastructure Pipeline (NIP), National Monetization Pipeline and corporate tax reduction for various sectors in the last few years. The ratio of investment to GDP which was 34 percent in FY 2013 was 32.50 percent in FY 2022. The government itself is announcing plans for the development of the infrastructure sector and at the same time private companies are also being requested to increase capital expenditure. During the April-July period of the current financial year, the central government's capital expenditure has increased by 63 per cent year-on-year, which is 28 per cen

- Boolean Bits : Dinesh Parekh - After the revival of Shraddhapaksha at home, there is hope of a return of demand in the jewelry markets of the country. At the Fed's meeting in the open market, Chairman Jerome Powell announced a .75 percent interest rate hike and signaled that each monthly rate hike would have an impact on the global economy. It becomes difficult to predict how much the interest rate will increase to control inflation and avoid recession. The jitters in the U.S. employment sector, fears of inflation and conflicting data on consumer demand - have all added to fears of an impending recession and volatility in gold. Gold prices fell to 1645 to 1650 dollars at the end of the week as the global dollar rose. Fed Chairman Jerome Powell will face a difficult choice between the two. One is the alarming rate of rising inflation in America and the other is recession. London banker Henry Trumpton said in 1802 that we assume that the value of money in our hands is fixed and

- Bhoo Bazar : Dilip Shah - South Korean buyers enter the tea market: there are signs of increasing exports to Iran and the Middle East as well The equations in the tea market and industry in the country have been seen to turn rapidly recently. People have now forgotten about Corona and lockdown and people have been seen celebrating various festivals with enthusiasm this year as various restrictions of the government have been removed. Hotels, restaurants, public functions Vs. Now with the usual start, demand from bulk consumers has also re-entered the tea market. Meanwhile, there is a lot of discussion about this in the market as the supply of cheap tea from Nepal is coming to the country. According to the planters and producers who produce Darjeeling tea in the country, the war between Russia and Ukraine has had the most negative impact on European countries. And this has adversely affected the Indian tea market, especially the European demand for Darjeeling tea. Domestic demand f

- Citibank's prediction that the rupee will be 40 against the dollar in 2014 has been completely wrong: Against the hegemony of the dollar, the forex reserves of the country are also witnessing a rapid decline. Before the 2014 Lok Sabha elections, there were a lot of reports across the country that the performance of the country's government was weakening in the second term of Manmohan Singh. Scams, lack of decision-making power in the government, the start of withdrawing the stimulus announced by the US in 2008, declining foreign investment in India... the Indian rupee continued to tumble amid such reports. At that time, the rupee had reached the level of 76 against the dollar. Then the situation improved due to aggressive measures by the Reserve Bank, a stable government at the Center in May 2014 and other reasons. At this time, Citibank, one of the top banks in the world, predicted that the rupee would rise against the dollar after the new government came in, increasing b

AHMEDABAD: Sebi is trying on several fronts to bring consistency to the cash and futures market in India. According to the report, the facility of net settlement of futures and options and cash trades may start by March. A committee of SEBI has approved this proposal. According to estimates, this new change will be implemented by February-March. The major benefit of this newly proposed system will be that customers will be able to have net settlement of liabilities and obligations between the futures and cash segments and will also increase liquidity. In general terms, futures and options arrears can be settled from the cash segment and there will be no tension of separate settlement and fund arrangements. Currently there is a separate settlement formula for futures and cash transactions. Both consumers and brokers will benefit if this new system is implemented.

Ahmedabad: According to the report of the Reserve Bank of India, there has been an increase of 14% in bank credit at the end of June quarter. On Friday, the central bank said that the credit growth of banks at the end of the June quarter stood at 14 percent year-on-year. This report has been prepared based on the information provided by 89 Scheduled Commercial Banks of the country. These banks do not include the operations of regional rural banks. Interestingly, this credit growth figure was 10.7 per cent in the previous quarter and 5.8 per cent in the June 2021 quarter, meaning that despite RBI's ever-tightening policy since the start of the March rate hike, there is still fear that interest rates will rise further and loans may become more expensive. So the loan should be taken now. The central bank said lending increased despite a 0.21 percent increase in the weighted average lending rate. It is also important to note that after ten consecutive quarters of interest rate cuts

MUMBAI: The significant depreciation of the rupee against the dollar, loss of oil companies and volatility in global prices has made it challenging for the authorities to bring down fuel prices at home. Despite the drop in global crude oil prices, there has been no reduction in fuel prices at home for over a month. Global crude oil prices have recently fallen significantly from their highs on concerns that crude oil demand will fall in the wake of a proposed global recession, though retail petrol-diesel prices at home have not come down. At the end of the current week, the price of Nymax crude slipped below 80 dollars to 78.74 per barrel while Brent crude fell to 86.15 dollars. During the week the prices have come down significantly. After the Russia-Ukraine war, the global price of crude oil rose to $139 per barrel at one stage. Despite a significant reduction from this price, the retail price of petrol-diesel has not seen a relative reduction. An analyst said that considering th

Mumbai: With the global geopolitical tension, an explosive situation of intervigraha has started to emerge. After Russia, America, European countries in the matter of Ukraine, now there are signs of instability in China. Again the factors of America and Russia, China have started causing turmoil in the world markets. After the corona epidemic and the disruption of the supply chain of the world due to the war in Ukraine, after the inflation started to rise, most of the countries of the world including America adopted a policy of increasing the interest rate in the name of controlling the inflation, instead of controlling the inflation, the situation is getting worse. With the US dollar becoming historically expensive against global currencies, the economies of many countries have come to a standstill. In such a situation, there is a possibility of more turmoil in the global markets in the next week amid the unofficial reports of Jiping's house arrest in the matter of China. But bef

- The flow of private investment is slow even before the pandemic and now The situation has improved significantly in the last one year due to the slowdown in demand due to the corona epidemic and the restrictions imposed due to it. It has also raised hopes that private investment in the economy will improve and the recovery in growth will also strengthen. Talking about the Indian economy in recent years, even before the advent of the pandemic, it was struggling with the problem of lack of private investment. Gross fixed capital formation as a share of gross domestic product (GDP) has nowhere near reached the levels seen in the high growth years of the 2000s. But there was a significant improvement in this trend. Because its share in real GDP increased to 34.7 percent in the first quarter of 2022-23. which was 32.8 percent in the same quarter last year.Some hoped that this improvement was due to an increase in private demand. This is because when it comes to the share of final privat

Buckle Up India... Buckle Up India After Cyrus Mistry's death in an accident, the government is getting stricter against car makers. It has been ordered to make the system mandatory to sound an alarm if the occupants of the back seat do not fasten their belts. The Ministry of Road Transport and Highways has also issued a notification inviting public opinion. The last date for sending it is October 5. Cyrus Mistry was sitting on the back seat and was not wearing a seat belt. Every four minutes a person dies in an accident in India. India is the fourth largest car market in the world. Here seat belts are mandatory for front seat occupants but rear seat occupants rarely wear seat belts. From the case of Cyrus Mistry, people have learned so much that seat belt should be worn even if sitting at the back. People sitting in the back are now wearing seat belts. After the death of Cyrus Mistry in a car accident, the country's auto industry has become more alert. The car industry has s

Talk about the market Zuckerberg's meta didn't pay off, 60 percent of his wealth washed away Mark Zuckerberg, who was once in the race to become the richest person in the world, has moved down to the 22nd position among the richest people in the world. Zuckerberg's decline began in early 2022 and Zuckerberg's wealth has halved in the last nine months. In July 2021, Facebook's share price was $350 and the market cap was $950 billion. At that time, Zuckerberg was richer than Bill Gates with a wealth of 142 billion dollars, i.e. about 12 lakh crore rupees, and was at the third number in the list. After Zuckerberg changed Facebook's name to Meta a year ago, both the company and Zuckerberg began to fall apart. Facebook shares have fallen by more than 60 percent. Zuckerberg owns about 13 percent of Meta. Kajal also became a businesswoman, selling baby care products Famous film actress Kajal Aggarwal has also become a businesswoman. Kajal Aggarwal has partnered

- Even though people are suffering due to recession, unemployment and ever increasing inflation, there is a rush to celebrate Navratri in a colorful way... - The purchasing power of the people of India has increased. People in India have increased the use of credit cards. The power to borrow is also strong. Demand for credit cards has also increased - Durga Puja and Navratri means 70,000 crores will circulate in the financial system. A boom is when new money is pumped into the economy and the purchasing power of the people increases Navratri is starting from today. Diwali festivities start from Navratri. Currently there are clouds of depression. In the context of Navratri, the festival has come to capture the auspicious signals of the markets below the recession. On the one hand, there is a recession, a dealer's crash, a stock market crash, investors' panic, and the start-up boom. Even though people are suffering due to recession, unemployment and rising inflation, there is