Page 3 - Price Hike

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

Price hikes to drive HUL Q4 revenue, ad-spends to dent margin: Analysts

According to brokerages, a sequential expansion in Ebitda margins is expected, amid tapering commodity cost inflation

PepsiCo raises annual forecasts on back of buoyant demand, price hikes

Global consumer goods companies have raised prices to battle sky-rocketing costs of everything from aluminum cans to labor and shipping since the supply-chain disruptions during the pandemic

Amid reeling economic crisis, Pak govt hikes petrol price for next 15 days

High-speed diesel, and light diesel oil rates remained stable, whereas the price of petrol increased to (PKR) 282 per litre. Kerosene oil's price is also increased by (PKR) 5.78 per litre

Petrol price in Pakistan likely to go up by Rs 10-14 per litre: Report

The increase can jump to 14 PKR per litre if govt also adjusts the exchange rate losses, unlike the previous review when the authorities didn't pass on the impact of rupee devaluation to the masses

Prices of dairy products likely to remain firm on account of higher demand

A spurt in demand for dairy products amid an almost stagnant milk output in the last one year has led to tight supply situations and elevated prices, industry experts said, and warned that rates may remain firm this summer. The Centre, along with National Dairy Development Board (NDDB), is monitoring the supply-demand gap in dairy products and will take a decision on imports depending on the situation. India is the world's largest milk producer. The output stood at 221 million tonne in 2021-22, up 6.25 per cent from 208 million tonne in the previous year. However, the production in 2022-23 is estimated to remain flat or witness slight growth. While announcing the monetary policy, RBI Governor Shaktikanta Das on Thursday said, "milk prices are also likely to remain firm going into the summer season due to tight demand-supply balance and fodder cost pressures". The RBI governor had also pointed out that consumer price inflation has increased since December 2022, driven by price press

NPPA allows drug firms to raise prices of essential medicines from April 1

Effectively the prices of 651 medicines will come down by 6.73%; WPI-linked price rise allowed this fiscal is 12.2%; about 870 formulations fall under the essential category

India mulls building LNG reserve to avoid future price hike or shortages

The government has proposed we should have more storage space for LNG so that when prices are lower we should store, and supply when there is crisis

Maruti Suzuki to hike prices from April to offset inflation impact

Maruti Suzuki India on Thursday said it will increase prices of its model range in April to partially offset the impact of "overall inflation and regulatory requirements". The auto major, however, did not share the quantum of the price hike it intends to implement from next month. The company continues to witness increased cost pressure driven by overall inflation and regulatory requirements, the auto maker said in a regulatory filing. While the company makes maximum effort to reduce cost and partially offset the increase, it has become imperative to pass on some of the impact through a price increase, it added. The company has planned this price increase in April, 2023, which shall vary across models, Maruti Suzuki India stated. Already several automakers, including Honda Cars, Tata Motors and Hero MotoCorp, have announced increase in prices from April. The Indian automobile industry is currently working to make their products meet the second phase of BSVI emission norms. From

No rerating yet for diagnostic players despite price hikes as margins fall

While discounts have come down, pricing gap still large between incumbents and new players

YouTube hikes price of TV services to $72.99 due to rising content costs

Google-owned YouTube has announced that it's raising the price of its TV subscription from $64.99 per month to $72.99 per month due to rising content costs

Wheat prices fall over 10% in 7 days on selling of FCI stock in open market

FCI sold 0.92 million tonnes since Feb 1, netting around Rs 2,290 crore

Parag Milk foods hikes milk prices of Gowardhan brand by Rs 2 per litre

Parag MIlk foods follows Mother Dairy and Amul; hikes milk prices of Gowardhan brand by Rs 2 per litre