ICRIER

Tune into an exciting discussion on the future of Cryptocurrency in India - technology, innovation and regulation on May 26 at 6 PM (IST)
Register Now - https://bit.ly/3sSiGpO
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ICRIER is hosting Release of Report on 'Contribution of Non-Alcoholic Beverage Sector to Indian Economic Growth and Atmanirbhar Bharat' . Would you like to attend? To register for the event, click here: https://lnkd.in/diF7h5dS

ICRIER is hosting Webinar on Taboo to Virtue: Finding the Balance for Crypto in India. Would you like to attend?
To register for the event, click here: https://lnkd.in/dByTRuzk

With more than 20 million Indians owning and exchanging cryptos in 2021 alone, these digital assets have taken India by storm. But not many people understand the technology and economics behind them. To get the most informed and authoritative account of the benefits and risks of crypto assets, how to balance the regulatory tight rope and to debate the way forward for crypto businesses in India, join our webinar with a multi-disciplinary panel on May 26, 6-7PM, IST.

Why GoI can resume wheat exports: Third advance estimates show stocks are comfortable. Bonus for farmers will increase procurement

Third advance estimates of crop production for the year 2021-22 are out. India has harvested a record foodgrain production of 314.51 million metric tonnes (MMT), up by 3.77 MMT over the preceding year. Rice is at a peak of 129.66 MMT, up by 5.29 MMT over the previous year. Wheat production stands at 106.41 MMT, only 3.18 MMT less than last year.

By Ashok Gulati & Ritika Juneja

https://timesofindia.indiatimes.com/blogs/toi-edit-page/why-goi-can-resume-wheat-exports-third-advance-estimates-show-stocks-are-comfortable-bonus-for-farmers-will-increase-procurement/

From plate to plough: Make India’s agri-exports more sustainable
by Ritika Juneja and Ashok Gulati

In FY22, India’s agri-exports reached an all-time high of $50.3 billion, registering a growth of 20% over the preceding year. This was largely made possible by rising global commodity prices, but also by favourable and aggressive export policy and various export promotion agencies like Agricultural and Processed Food Products Export Development Authority , Marine Products Export Development Authority, and commodity boards, etc. However, a strategic question that arises is: How sustainable is this growth in agri-exports, given India’s resource endowments and its own needs? Already, there has been a sudden ban on wheat exports. To answer this rationally, let us first look at the composition of agri-exports.
https://www.financialexpress.com/opinion/from-plate-to-plough-make-indias-agri-exports-more-sustainable/2533917/

Can agri-exports be made more sustainable?
by Ritika Juneja and Ashok Gulati

https://indianexpress.com/article/opinion/columns/can-agri-exports-be-made-more-sustainable-7930829/

In the fiscal year 2021-22 (FY22), agri-exports scaled an all-time high of $50.3 billion, registering a growth of 20 per cent over the preceding year. This was made possible largely by rising global commodity prices, but also by the favourable and aggressive export policy of the Ministry of Commerce and its various export promotion agencies like APEDA, MPEDA, and commodity boards. However, from a strategic point of view, an important question that arises is how sustainable is this growth in agri-exports, given India’s resource endowments and the country’s domestic needs? Already, we have seen a sudden ban on wheat exports. To answer this question rationally, let us first look at the composition of agri-exports.

Conversation with Ashok Gulati, Agricultural Economist, about his chapter in ModiAt20Book
Ashok Gulati

In conversation with Ashok Gulati, Agricultural Economist, about his chapter in #ModiAt20Book Food security is the foremost thing. In Gujarat, for 13 years, when Prime Minister Modi was the Chief Minister, the GDP of agriculture grew by 9.2% per annum...

From plate to plough: Food inflation fears must not dull cereal exports
by Ashok Gulati and Ritika Juneja

The RBI team led by Governor Shaktikanta Das must be complimented for raising the repo rate by 40 basis points (bps) and the cash reserve ratio (CRR) by 50 bps with a view to tame inflation. High inflation is always an implicit tax on the poor and those who keep their savings in banks. The real value of their savings gets depreciated with every round of inflation as interest on deposits is often far below the inflation rate. So, controlling inflation is an important mandate of the RBI. The question that arises is: Will the increases in the repo rate and CRR control inflation, especially food inflation? The short answer is, “not yet”. Our assessment of the situation is that the RBI has been behind the curve by at least by 4-to 5 months, and its optimism in controlling inflation in the earlier meetings of the Monetary Policy Committee was somewhat misplaced. If the RBI has to make up for lost time, it will have to repeat this feat of raising ...

How to tackle food inflation – and how not to Ashok Gulati and Ritika Juneja write: Fear mongering over wheat production must not push the government towards an export ban, especially on cereals the prices of which are at an all-time high

How to tackle food inflation – and how not to
by Ashok Gulati and Ritika Juneja

The RBI team led by Governor Shaktikanta Das must be complimented for raising the repo rate by 40 basis points (bps) and the cash reserve ratio (CRR) by 50 bps with a view to tame inflation. High inflation is always an implicit tax on the poor and those who keep their savings in banks. The real value of their savings gets depreciated with every round of inflation as interest on deposits is often far below the inflation rate. So, controlling inflation is an important mandate of the RBI. The question that arises is: Will the increases in the repo rate and CRR control inflation, especially food inflation? The short answer is, “not yet”. Our assessment of the situation is that the RBI has been behind the curve by at least by 4-to 5 months, and its optimism in controlling inflation in the earlier meetings of the Monetary Policy Committee was somewhat misplaced. If the RBI has to make up for lost time, it will have to repeat this feat of raising repo rates and CRR by at least three more times in this fiscal year (FY23) to mop up excess liquidity in the system. Even then, it may be difficult to rein in food inflation, which is surging faster than the overall consumer price index (CPI).

How to tackle food inflation – and how not to Ashok Gulati and Ritika Juneja write: Fear mongering over wheat production must not push the government towards an export ban, especially on cereals the prices of which are at an all-time high

https://www.youtube.com/watch?v=aTw8bJibY0c
Kickstarting the event on 'WTO 2.0 in the post-Covid world', Dr. Nisha Taneja, Professor, ICRIER laid the ground for the deliberations on reforming the WTO.
Link to join: https://youtu.be/aTw8bJibY0c

ICRIER

WTO 2.0 in the post-COVID World

The supply bottlenecks causing power shortages
by Somit Dasgupta

The power sector in India is going through a crisis. Peak shortages in some states have reached double digits. Coal stocks available at thermal plants are at abysmal levels and about 106 plants out of 173 plants have reached a critical stage. On average, coal stocks available are only good enough for about eight days’ generation against a norm of 24 days. In some plants, the stocks available are just about enough to run the plant for a day or two more. Part of the problem of poor coal stock is also rumoured to be on account of the non-payment of dues of coal companies. But this is not the major cause of the shortage.

The supply bottlenecks causing power shortages Somit Dasgupta writes: Dark days lie ahead. Issues in transportation, production of coal must be addressed.