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Centre steps in to roll back fertilizer prices

-The Hindu Move after meeting with manufacturers A day after fertilizer producers announced a sharp 46% to 58.33% hike in prices citing higher raw material costs, the Central government intervened on Friday to ensure a rollback even though fertilizer prices are no longer regulated. Minister of State for Chemicals and Fertilizers Mansukh Mandaviya said prices would remain unchanged for now, after a ‘high-level’ meeting was held with the major fertilizer companies. Opposition parties had...

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After diesel, fertilisers to take toll on farmers; IFFCO hikes prices by 45-58% -Harish Damodaran and Harikishan Sharma

-The Indian Express A 50-kg bag of di-ammonium phosphate (DAP), the most widely consumed fertiliser in India after urea, will cost farmers Rs 1,900, more than 58 per cent higher than the existing rate of Rs 1,200/bag. In the midst of Assembly elections in West Bengal and ongoing protests against the Centre’s farm laws, the country’s largest fertiliser seller – Indian Farmers Fertiliser Cooperative (IFFCO) – has steeply raised prices of nutrients. A...

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Finance panel suggests new structure to rationalise GST slabs -Rajeev Jayaswal

-Hindustan Times The suggestion is to come up with a standard rate of 17%, a lower merit rate for items of common consumption and a higher rate on luxury and sin goods, according to these officials who spoke on the condition of anonymity. The Fifteenth Finance Commission (FFC) has suggested the Goods and Services Tax (GST) Council to simplify tax rates by creating just three slabs, two officials with direct knowledge of...

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Minorities within majority face persecution in Indian subcontinent -Vignesh Radhakrishnan

-The Hindu The Citizenship (Amendment) Act provides a path for citizenship to minorities (non-Muslims) from three Muslim majority nations - Pakistan, Bangladesh and Afghanistan. Data show that religious minorities, including Muslims, in other neighboring countries such as Myanmar, China and Sri Lanka also face persecution. In many countries, minority sects within the majority religions (including Islam) are also persecuted. According to UN estimates, there are over 51 lakh international migrants in India...

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CAG demonstrates how govt relies on off-budget resources to fund deficit - Dinesh Narayanan

-The Economic Times India’s deficit numbers have come under lens as the govt is increasingly depending on off-budget borrowings. The Comptroller and Auditor General (CAG) has said that the central government’s key deficit figures may be considerably higher than those stated in the union budget. In a presentation to the 15th Finance Commission (FFC) on July 8, three days after the July 5 budget, CAG has asked whether the extra-budgetary resources accounted for...

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