Sugar crisis: Sugar output tanks by 67% to 8 lakh tonnes in Oct–Nov

New Delhi: India's sugar output declined by 67% to 8 lakh tonnes in the first 2 months of 2013–14 marketing year (MY'14) as a large number of mills, mainly in Uttar Pradesh, have not yet started crushing operations due to logjam over high cane prices.Sugar production in India, the world's second largest producer and biggest consumer, stood at 24.4 lakh tonnes in the year ago period, according to data compiled by Indian Sugar Mills Association (ISMA).

                                   

The sugar marketing year runs from October to September.On Thursday, UP sugar millers refused to start operations despite tax incentives and a warning by the state government to break the deadlock over higher cane prices.Read more

After sexual assault charges, money

New Delhi: After intense sexual assault charges by a junior female colleague, editor-in-chief of Tehelka Tarun Tejpal is now in talks for another explosive revelation. A leading news dotcom Firstpost has published a story evidencing scandalous intricate details of financial whereabouts of Tehelka and its shareholders.

People in question are Tejpal himself, his wife Geetan Batra, Managing Editor Tehelka Shoma Chaudhary, senior Congress leader Kapil Sibal, et al. The story reveals names of shareholders and beneficiaries and financial donors of the institution. Read more

UP under pressure to thaw sugar price impasse

Lucknow: After over a week of impasse over the sugar price in UP between the state government and millers, Akhilesh Yadav government is under immense pressure to resolve the issue. The state government is expected to announce some relief measures in favour of millers on Thursday.
                                                   
The pressure is mounting as the Karnataka government has resolved the crunch by granting Rs. 150/tonne direct cash subsidy to the sugarcane farmers on Thursday. The decision was taken following the suicide of an agitated farmer.Read more at-http://daily.bhaskar.com/ 

Tina Ambani visits Makrana! Learns marble sculptural art & tastes authentic Marwadi cuisines

Wife of Anil Ambani, Tina Ambani, reached Makrana on Tuesday. For about 5 hours the lady learned cutting, modelling and carving marble. Tina has a keen interest in sculptural art. She said that she is spellbound and enchanted by the fine sculpted idols and engravings in temples.
                          
Tina had wished to come down to visit Makrana since quite long. She also invited Mohammad Iqbal Sisodiya, a temple sculpture artist, and Zahoor Islam, international handicraft artist, to witness their art.Read more at-http://daily.bhaskar.com/  

Diageo to sell Whyte & Mackay over UK Office of Fair Trade's competition concerns

New Delhi: British multinational alcoholic beverages company Diageo Plc has offered to sell most shares of its lately acquired Whyte & Mackay from India’s United Spirits Ltd. Diageo and United Spirits are both suppliers of spirits in the UK and across the world.The sell-off of W&M, except two malt distilleries, followed to address competition concerns regarding bottled blended Scotch whisky – arising from Diageo’s completed acquisition of USL – were raised by Office of Fair Trading (OFT), UK.

                              

A number of retailers expressed concerns to the OFT about possible price rises for bottled blended whisky sold in the UK as a result of the merger’, OFT said in a press release on Monday. ‘The merger may lead to a substantial lessening of competition in the supply of blended whisky to retailers’, it added.‘These companies are two of the leading suppliers of blended bottled whisky in the UK, especially to supermarkets and other large retailers. Our investigation considered a wide range of evidence and we concluded that the likely loss of competition could give rise to higher prices for retailers, and ultimately consumers’, Chris Walters, OFT Chief Economist and Decision Maker said in this case.Read more at-http://daily.bhaskar.com/ 

 

Get ready to be arrested by inflation! Grocery, toiletry, medicines to get costlier soon

New Delhi: Despite constant reassurances by Finance Minister P Chidambaram that inflation will subside in the third quarter (Q3) of financial year 2013–14 (FY’14), there seems no such indication. On the contrary, prices of consumer goods are geared up to take a leap in Q3 FY’14.

 












The month of October (first month of Q3) witnessed double-digit retail inflation at 10.09%, basically accelerated by vegetables and other food items. Even though the food inflation may recede in the following months, the processed goods shall pinch consumers’ pockets.Read more at-http://daily.bhaskar.com/                                                                         

Poor credit appraisal responsible for rising bank loan frauds: K C Chakrabarty

Mumbai: Reserve Bank of India (RBI) Deputy Governor K C Chakrabarty delivered a presentation pertaining to sharp surge in bank loan fraud cases. The deputy Governor held poor credit appraisal and low level of promoter equity as the main culprits behind the surge in the loan frauds.
                              
The percentage of bank loan frauds almost doubled in the year 2012–13 on year-on-year basis. In financial year 2012–13 (FY’13), the bank loan fraud amount has reached to Rs. 6,212 crore, while the amount for FY’12 was Rs. 3,183 crore.Read more at-http://daily.bhaskar.com/ 

Ministry of Petroleum and Natural Gas wards off growing cyber attacks on PSUs

New Delhi: Ministry of Petroleum and Natural Gas is determined to brush off the rising cyber attacks on its public sector undertakings (PSUs). The ministry has warned the PSUs and asked them to take precautionary measures against top hackers.
                                                
The menace of cyber crime and attacks on various sites is spreading like a menace even in India. According to media reports, about 4191 Indian websites were attacked by hackers in August compared to 2380 July, which is nearly double in a month. While the figure was 2858 in June, it was 1808 in May, 50% increase.Read more at-http://daily.bhaskar.com/  

This R 1000 note is to be sold at R 3.5 lakh online

New Delhi: Probably in today’s fast life you never paid attention to any such note probably that passed through your hands that bore a special number, an error, etc. You never realised while holding that note that it could earn you a lakh rupees.
                                          
There are many such websites that offer sale and purchase of special currency coins and notes with striking errors. These currency notes and coins have special numbers, errors, misprints, signatures or are vintage coins or notes.Read more at-http://daily.bhaskar.com/ 

Revealed! Hidden facts about Indian Government Mint or Coins

After enlightening our readers with facts related to Rs. 1000, Rs. 500 and Rs. 100 notes, Bhaskar Money is back with some interesting facts related to Rs. 1, Rs. 2, Rs. 5 and Rs. 10 coins. These are smaller dominations of Indian currency that a consumer puts to use to purchase various goods and services in day to day life.

                                                     

Have you ever noticed various symbols embossed on these currency coins? Have you ever researched about these symbols? Well here we are with insight on these common symbols on Indian currency coins. Each and every symbol on these coins carries a special relevance.Read more at-http://daily.bhaskar.com/ 

Power Ministry sends note on financial restructuring of state discoms to the cabinet

New Delhi: Power Ministry has sent the note on financial restructuring of state discoms to the cabinet for final approval, a top ministry official said on Friday.
                                                 
As per the proposal, the state electricity boards of Jharkhand, Bihar and Karnataka will be allowed to convert their outstanding loans, till March 2013, into bonds as part of an amendment to the discom debt restructuring package.Read more at-http://daily.bhaskar.com/  

Will Australia enter a shutdown like USA on 12 December as it reaches debt ceiling of AU$300 billion?

Sydney: It seems, Australia is standing at the threshold of an abyss. The world’s 12th largest economy is surounded with worries that it will enter into a shutdown if the economy’s debt ceiling is not further raised soon. Australia’s current borrowing limit is AU$300 billion.
                                                  

Australia shall reach the cap by 12 December, which needs to be resolved else the whole country could enter a US shutdown scenario. Australia Prime Minister Tony Abbott Liberal-National coalition has a majority in the lower house, while the Labor Party and Greens have the majority in the upper house.Read more at-http://daily.bhaskar.com/

 

The Golden Talk: How will Janet Yellen bolster the gold bullion prices?

New Delhi: ‘This is the right time to buy gold’ is not something new we are hearing. Time and again various economists have voiced solidarity over the fact that ‘the future is gold’. However, though the factors governing the gold rush alter over time, the drive for gold has only increased.

Leading economists like Peter Schiff are of the opinion that those who have purchased gold have done the right thing, while those waiting are only raising the stakes.

                                      

Probability is Janet Yellen may succeed US Federal Reserve chairman Ben Bernanke. With strong backing by US President Barack Obama, when succeeded, Yellen is sure to continue the $85 billion a month bond buying programme. Chances are that she may double the quantity of quantitative easing by the Fed.Read more at-http://daily.bhaskar.com/

Rajan conference highlights: CAD for FY'14 estimated at $56 billion, no fundamental reason for the Rupee's volatility

New Delhi: The Reserve Bank of India (RBI) Governor Raghuram Rajan held a news conference on Wednesday to calm worried Mint Street. Governor Rajan addressed multiple concerns of India Inc. in the conference held on the Wednesday evening.

  

 

R Rajan was indeed disappointed from the factory output data figures released on Tuesday. The IIP for the month of September 2013 grew at meek 2%, while the data for the month (October 2013) before had settled at 0.6%, now revised to 0.4%. Read more at-http://daily.bhaskar.com

Indian economy will get back on the targeted growth trajectory of 8% after 2 years: Montek Singh

New Delhi: Exuding confidence about India's potential, Planning Commission Deputy Chairman Montek Singh Ahluwalia on Tuesday said the economy will get back on the targeted growth trajectory of 8% after 2 years.

                                                   














   
  


  


  

  

 

 

I think we can hit what we thought was our trajectory 2 years later because of the slowdown that we have’, Ahluwalia told reporters at the 34th SKOCH Summit here.
Read more at-http://daily.bhaskar.com/article/MON-indian-economy-will-get-back-on-the-targeted-growth-trajectory-of-8-after-2-year-4431857-NOR.html