Page 2 - Price Hike

Govt committed to fulfilling pledge for farmers' welfare: PM on cane hike

Prime Minister Narendra Modi on Thursday underlined his government's commitment to fulfilling its pledge for the welfare of farmers, asserting that a "historic" hike in sugarcane's price is part of such efforts. This will benefit crores of sugarcane farmers, he said in a series of posts on X, highlighting several decisions taken by the Union Cabinet on Wednesday. The Cabinet meeting headed by Modi hiked the minimum price that mills have to pay to sugarcane growers by Rs 25 to Rs 340 per quintal for the 2024-25 season starting October. An official statement had said after the decision, "The new FRP will ensure prosperity of sugarcane farmers. It is noteworthy that India is already paying the highest price of sugarcane in the world and despite that the government is ensuring the world's cheapest sugar to domestic consumers." Reacting to other Cabinet decisions, he said the step taken by it relating to the National Livestock Mission will bring exciting opportunities for entrepreneurs

PepsiCo misses revenue estimates as multiple price hikes dent demand

PepsiCo and other retailers are now facing some resistance to the multiple price hikes undertaken since the pandemic to fend off higher costs caused by supply chain disruptions

Mehngaai-nomics: Kharge slams govt over price rise of essential commodities

Congress president Mallikarjun Kharge on Sunday hit out at the Centre over the rise in prices of essential commodities during the Modi government's tenure and wondered what kind of "developed India" is this. In a post on X, Kharge shared a video montage comparing the 2014 prices of essential items such as milk, onion, tomatoes, and sugar with their current prices to highlight inflation. "Mehngaai-nomics. What kind of 'viksit Bharat' is this'? Where the BJP has mastered looting," the Congress chief said in his post in Hindi. The Congress has been attacking the government over its handling of the economy and raising concerns over "increasing" unemployment and price rise.

M&M to hike prices of passenger, commercial vehicles from Jan 2024

Mahindra & Mahindra on Wednesday said it will hike prices of its passenger and commercial vehicle model range from January next year. This adjustment is in response to the rising costs due to inflation and increased commodity prices, the company said in a statement. The company has made efforts to absorb as much of these additional costs as possible. However, a portion of this increase will be passed on to customers, it added. The extent of the price increase will vary across different SUVs and commercial vehicles, the automaker stated.

Onion price today, November 1, 2023: Price surge in Delhi NCR, other states

The onion price spikes in Delhi NCR, the price is between Rs 70 to 80 per kg in the retail market. In other parts of the country, the price ranges between Rs 41 to 69 per kg

Food prices to remain stable during festival season, says food secretary

The government has recently used all tools at its command, whether trade policy or stock limit norms. These tools have been used judiciously to ensure prices remain stable, Chopra noted

Many families facing true hardships from unabated increase in prices: Cong

Hitting out at the government, the Congress on Friday said concerns on inflation continue to be serious and claimed that crores of families were facing "true hardships" from "unabated increase" in prices of essential commodities. Congress general secretary Jairam Ramesh's attack on the government came after the Reserve Bank of India on Friday decided to keep the policy rate unchanged for the fourth time in a row. In a post on X, Ramesh said, "The RBI has maintained the Repo Rate the interest rate it charges for borrowings by commercial banks from it at 6.5%. This simply means that concerns on inflation continue to be serious." "For 47 months, the Consumer Price Index(CPI) has remained well over the RBI's own medium-term target of 4%. In August 2023, the CPI stood at 6.83%," the Congress general secretary in-charge communications said. "This of course masks the true hardships being faced by crores upon crores of families from unabated increase in prices of essential commodities,"

Gas prices likely pushed up inflation in Aug, other costs probably slowed

A sharp increase in gas prices likely pushed inflation higher in August compared with a year ago, yet a measure excluding energy and food costs is expected to fall for the fifth straight month, suggesting that the Federal Reserve's interest rate hikes are still bringing down prices for many goods and services. The consumer price index is projected to have increased 3.6% last month from a year earlier, according to economists' forecasts compiled by data provider FactSet. The increase would be up from 3.2% in July, though still far below the peak of 9.1% in June 2022. Yet core prices, which exclude food and energy and are monitored closely by the Federal Reserve, are likely to cool to 4.3% in August from a year ago, down from a 4.7% annual pace in July. The Fed follows core prices because they can provide a better read on where inflation is headed. If the forecasts are accurate, such data will likely fuel optimism that inflation is coming under control, despite the rise in gas prices,

Afghan drivers criticise fuel price hike, call on Taliban to pay attention

"A lot of northern oil used to be imported to Kabul, now that Salang highway is closed, the imports have decreased," said Shafiq a fuel seller

At 36.1 mn hectares, India plants 4.3% more land with rice than last year

Higher rice planting in India, the world's second biggest producer of the grain, could alleviate concerns about supplies of the staple

Tomatoes highly perishable, price spike short-lived: RBI bulletin

Additionally, the bulletin highlighted that studies indicate that changes in wholesale prices have a relatively minor impact on the difference between wholesale and retail prices

People will not buy into hollow slogans of BJP: Kharge slams govt on prices

Congress president Mallikarjun Kharge on Wednesday hit out at the Modi government over rising prices and unemployment, saying that people will not buy into the "hollow slogans" of the BJP and will wipe it out of power this time. His attack came a day after the Congress slammed the Centre over rising prices of vegetables and other essential food items and demanded immediate steps from his government to address the issue. "Both inflation and unemployment are increasing continuously due to the loot of the Modi government. But the BJP is engrossed in the greed for power," Kharge alleged in a tweet in Hindi. The prices of vegetables are skyrocketing and the unemployment rate in the country has gone up to 8.45 per cent, he said. The unemployment rate in villages is 8.73 per cent and the demand for MGNREGA in villages is at its peak, but there is no work, Kharge said. The rural wage rate has come down, he added. "Narendra Modi ji, the people of the country know that before elections, yo

PM Modi 'Mehengaai Man', his govt must act to control rising prices: Cong

The Congress Tuesday attacked the Centre over rising prices of vegetables and other essential food items, calling Prime Minister Narendra Modi 'Mehengaai Man' and demanding immediate steps from his government to address the issue. The women's wing of the party also held a protest outside the BJP office here, demanding relief for people from rising inflation of essential food items. Congress spokesperson Supriya Shrinate told a press conference, where the party had kept a basket of tomatoes, garlic, ginger and green chillies, this could be a good gift option given that it costs over Rs 1,070 because of the rising inflation. Narrating the story of a "king" whose followers used to mislead people over rising prices, Shrinate said, "The king whose name is 'Mehengaai Man' is Narendra Modi." "Does the government care? Does the man who has brought the onslaught of rising prices care? Is the government taking any steps to reverse the situation, is the government doing anything possible with

Tomatoes to cumin: Soaring prices put pressure on kitchen bills

The hike in prices will continue as the supply remains affected, claimed those in the business

Tomato prices surge up to Rs 140/kg in Delhi-NCR due to supply disruption

Retail tomato prices have surged up to Rs 140 per kg in the Delhi-NCR region due to the supply disruption from the producing centres owing to rains. Wholesale prices of tomato at Azadpur Mandi here, Asia's largest wholesale fruits and vegetables market, were ruling in the range of Rs 60-120 per kg, depending on the quality on Monday. Mother Dairy's Safal was selling tomato at Rs 99 per kg on Sunday. Online retailer Otipy was quoting tomato hybrid at Rs 140 per kg and BigBasket Rs 105-110 per kg on Monday. "The increase in prices of tomato is due to tight supply from the key producing centres. Because of rainfall, the supply is disrupted," Azadpur Tomato Association President Ashok Kaushik told PTI. The supply from neighbouring Haryana, Uttar Pradesh and Rajasthan got exhausted quickly due to rains. Now, Himachal Pradesh is the sole supplier for the Delhi-NCR region. The hilly state is also receiving heavy rains, impacting picking and transportation, he added. Traders are unable to

Tata Motors to hike prices of PVs from July 17 to offset input costs

Tata Motors on Monday said it will hike prices of its passenger vehicles with effect from July 17. The company will increase prices of its passenger vehicles (including EVs) by an average of 0.6 per cent across models and variants, Tata Motors said in a statement. The price increase is to offset the residual impact of past input costs, it added. The auto major noted that it will offer price protection to bookings made up to July 16, 2023 and deliveries up to July 31, 2023. Tata Motors sells a range of passenger vehicles including Punch, Nexon and Harrier.

UCC to divert people's attention from important issues, says Pramod Tiwari

He said that the Congress party will decide its stand on UCC after party-level strategy meeting

Govt to launch challenge to get ideas to tackle sudden spike/fall in prices

To tackle a sudden spike or fall in the prices of tomatoes, the Consumer Affairs Ministry will launch on June 20 a grand challenge, inviting innovative ideas for improving the production, processing and storage of the commodity. "We will launch the Tomato Grand Challenge this week. We will invite innovative ideas, create prototypes, and then scale up as we did in the case of Onion," Consumer Affairs Secretary Rohit Kumar Singh told PTI. The Grand Challenge aims to bring innovative, modular, and cost-effective solutions to develop "technologies for pre-production; primary processing, post-harvest, storage and valorisation of tomato" at the farm, rural and urban levels, he said. The purpose is to come out with a comprehensive strategic solution for reducing the loss while imparting value addition. "We have done in onion in the last one year. We received 600-odd ideas for Onion, out of which 13 ideas are now mentored under the guidance of experts," Kumar said. In the case of tomato,

Honda Cars India to hike prices of Amaze, City by upto 1% from June

Honda Cars India on Wednesday said it will hike prices of its sedans City and Amaze by up to 1 per cent from June in order to offset the impact of increased cost pressures. "While our endeavour is to partially offset the increase, it has become imperative to pass on some of the impact. We have planned to increase prices for City and Amaze up to 1 per cent from June which shall vary across variants," Honda Cars India Vice President (Sales and Marketing) Kunal Behl said in a statement. The Amaze is currently priced between Rs 6.99 lakh and Rs 9.6 lakh while the City range including strong hybrid trims are tagged between Rs 11.55 lakh and Rs 20.39 lakh (ex-showroom Delhi). The price increase activity would not have any impact on the strong hybrid trims of the mid-sized sedan.

Priyanka Gandhi slams BJP over price rise, blames its corrupt policies

Congress General Secretary Priyanka Gandhi Vadra on Thursday slammed the BJP government, saying prices of essential commodities and services were spiralling due to its "corrupt policies". Alleging that there was rampant corruption prevailing in the state, she said the BJP dispensation in Karnataka is known as "40 per cent commission government". "Prices are skyrocketing in the state. Cooking gas cylinder, rice, pulses and flour prices have gone up. The price rise is due to a corrupt government formulating corrupt policies," she said in an election rally here in Koppal district of Karnataka, which votes on May 10. According to her, no one but the Contractors' Association has given the government such a tag. She said contractors were committing suicide because they have to give huge money as bribe to the government.. She also raised the alleged recruitment scams in the state. "Isn't the government ashamed that you (people) spend so much on the education of your children and prepare