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India Gazette
05-07-2025
- Business
- India Gazette
Inflation likely to align with RBI's projection in Q1: BoB report
New Delhi [India], July 5 (ANI): Inflation is expected to remain in line with the Reserve Bank of India's (RBI) projections in the first quarter (Q1) of Financial Year FY26, driven by a favourable statistical base and continued deflation in essential commodities, according to the latest report by Bank of Baroda. Taking the influencing factors into consideration the RBI policy projects CPI inflation for the financial year 2025-26 at 3.7 per cent, with Q1 at 2.9 per cent; Q2 at 3.4 per cent; Q3 at 3.9 per cent; and Q4 at 4.4 per cent The BoB Essential Commodities Index (BoB ECI) remained in deflationary territory in June 2025, declining by -1.8 per cent year-on-year (YoY), compared to a -0.6 per cent drop in May 2025. This marks the third consecutive month of deflation, largely driven by sharp price corrections in vegetables and pulses, buoyed by improved production and favourable supply conditions. 'The outlook for inflation remains comforting for now, as it has the handholding of a favourable statistical base. This is likely to continue in Jul'25 as well. We expect to settle CPI to settle at 2.6 per cent in Jun'25,' the report noted, suggesting the RBI will have some room to focus on growth-oriented measures in the near term. Vegetables under the TOP (Tomato, Onion, Potato) category led the deflation trend. Retail prices for onions and potatoes dropped significantly by -26.1 per cent and -20.3 per cent respectively in June, while tomatoes fell at a slightly slower pace of -24 per cent. Among pulses, Tur/Arhar recorded the steepest annual decline of -23.8 per cent, marking the fourth consecutive month of double-digit deflation. Other pulses such as Urad, Masoor, and Moong also showed consistent downward trends, supported by improved sowing in the ongoing Kharif season. Cereals, particularly rice, also saw retail prices soften, falling by -5.1 per cent in June. Prices of miscellaneous items like salt and jaggery remained largely stable, while edible oils continued to remain elevated, albeit supported by favourable international pricing trends. On a month-on-month (MoM) basis, the BoB report noted a modest uptick of 0.6 per cent in June. However, the seasonally adjusted MoM figure actually declined by -0.7 per cent, indicating that much of the sequential rise was seasonal in nature. Tomato prices rose by a sharp 36.1 per cent in June compared to May, marking the highest monthly gain since October 2024 -- a result of early monsoon impact and typical seasonal price shifts. Although onion prices remained relatively stable, they witnessed a much softer sequential decline of -0.4 per cent compared to -9.8 per cent in May. The report cautioned that June and July typically mark the seasonal reversal in TOP prices, with an upward correction in prices expected. It emphasised the need for better supply chain infrastructure, including cold storage and more localised vegetable clusters, to help moderate price volatility going forward. With inflation well below the RBI's upper tolerance band and supply-side pressures largely under control, the central bank appears to have a temporary breather, allowing it to stay focused on stimulating growth in the months ahead, the report added. (ANI)
Economic Times
05-07-2025
- Business
- Economic Times
Inflation likely to align with RBI's projection in Q1: Bank of Baroda report
ANI Inflation likely to align with RBI's projection in Q1: BoB report Inflation is expected to remain in line with the Reserve Bank of India's (RBI) projections in the first quarter (Q1) of Financial Year FY26, driven by a favourable statistical base and continued deflation in essential commodities, according to the latest report by Bank of the influencing factors into consideration the RBI policy projects CPI inflation for the financial year 2025-26 at 3.7 per cent, with Q1 at 2.9 per cent; Q2 at 3.4 per cent; Q3 at 3.9 per cent; and Q4 at 4.4 per cent The BoB Essential Commodities Index (BoB ECI) remained in deflationary territory in June 2025, declining by -1.8 per cent year-on-year (YoY), compared to a -0.6 per cent drop in May 2025. This marks the third consecutive month of deflation, largely driven by sharp price corrections in vegetables and pulses, buoyed by improved production and favourable supply conditions."The outlook for inflation remains comforting for now, as it has the handholding of a favourable statistical base. This is likely to continue in Jul'25 as well. We expect to settle CPI to settle at 2.6 per cent in Jun'25," the report noted, suggesting the RBI will have some room to focus on growth-oriented measures in the near under the TOP (Tomato, Onion, Potato) category led the deflation trend. Retail prices for onions and potatoes dropped significantly by -26.1 per cent and -20.3 per cent respectively in June, while tomatoes fell at a slightly slower pace of -24 per cent. Among pulses, Tur/Arhar recorded the steepest annual decline of -23.8 per cent, marking the fourth consecutive month of double-digit deflation. Other pulses such as Urad, Masoor, and Moong also showed consistent downward trends, supported by improved sowing in the ongoing Kharif season. Cereals, particularly rice, also saw retail prices soften, falling by -5.1 per cent in June. Prices of miscellaneous items like salt and jaggery remained largely stable, while edible oils continued to remain elevated, albeit supported by favourable international pricing a month-on-month (MoM) basis, the BoB report noted a modest uptick of 0.6 per cent in June. However, the seasonally adjusted MoM figure actually declined by -0.7 per cent, indicating that much of the sequential rise was seasonal in prices rose by a sharp 36.1 per cent in June compared to May, marking the highest monthly gain since October 2024 -- a result of early monsoon impact and typical seasonal price shifts. Although onion prices remained relatively stable, they witnessed a much softer sequential decline of -0.4 per cent compared to -9.8 per cent in May. The report cautioned that June and July typically mark the seasonal reversal in TOP prices, with an upward correction in prices expected. It emphasised the need for better supply chain infrastructure, including cold storage and more localised vegetable clusters, to help moderate price volatility going forward. With inflation well below the RBI's upper tolerance band and supply-side pressures largely under control, the central bank appears to have a temporary breather, allowing it to stay focused on stimulating growth in the months ahead, the report added.
Time of India
05-07-2025
- Business
- Time of India
Inflation likely to align with RBI's projection in Q1: Bank of Baroda report
Inflation is expected to remain in line with the Reserve Bank of India's (RBI) projections in the first quarter (Q1) of Financial Year FY26, driven by a favourable statistical base and continued deflation in essential commodities, according to the latest report by Bank of Baroda . Taking the influencing factors into consideration the RBI policy projects CPI inflation for the financial year 2025-26 at 3.7 per cent, with Q1 at 2.9 per cent; Q2 at 3.4 per cent; Q3 at 3.9 per cent; and Q4 at 4.4 per cent The BoB Essential Commodities Index (BoB ECI) remained in deflationary territory in June 2025, declining by -1.8 per cent year-on-year (YoY), compared to a -0.6 per cent drop in May 2025. This marks the third consecutive month of deflation, largely driven by sharp price corrections in vegetables and pulses, buoyed by improved production and favourable supply conditions. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 모르면 무조건 후회하는 경추베개 "속임수" 공개 김진석 생활기록 더 알아보기 Undo "The outlook for inflation remains comforting for now, as it has the handholding of a favourable statistical base. This is likely to continue in Jul'25 as well. We expect to settle CPI to settle at 2.6 per cent in Jun'25," the report noted, suggesting the RBI will have some room to focus on growth-oriented measures in the near term. Vegetables under the TOP (Tomato, Onion, Potato) category led the deflation trend. Retail prices for onions and potatoes dropped significantly by -26.1 per cent and -20.3 per cent respectively in June, while tomatoes fell at a slightly slower pace of -24 per cent. Among pulses, Tur/Arhar recorded the steepest annual decline of -23.8 per cent, marking the fourth consecutive month of double-digit deflation. Other pulses such as Urad, Masoor, and Moong also showed consistent downward trends, supported by improved sowing in the ongoing Kharif season. Live Events Cereals, particularly rice, also saw retail prices soften, falling by -5.1 per cent in June. Prices of miscellaneous items like salt and jaggery remained largely stable, while edible oils continued to remain elevated, albeit supported by favourable international pricing trends. On a month-on-month (MoM) basis, the BoB report noted a modest uptick of 0.6 per cent in June. However, the seasonally adjusted MoM figure actually declined by -0.7 per cent, indicating that much of the sequential rise was seasonal in nature. Tomato prices rose by a sharp 36.1 per cent in June compared to May, marking the highest monthly gain since October 2024 -- a result of early monsoon impact and typical seasonal price shifts. Although onion prices remained relatively stable, they witnessed a much softer sequential decline of -0.4 per cent compared to -9.8 per cent in May. The report cautioned that June and July typically mark the seasonal reversal in TOP prices, with an upward correction in prices expected. It emphasised the need for better supply chain infrastructure , including cold storage and more localised vegetable clusters, to help moderate price volatility going forward. With inflation well below the RBI's upper tolerance band and supply-side pressures largely under control, the central bank appears to have a temporary breather, allowing it to stay focused on stimulating growth in the months ahead, the report added.
Mint
24-06-2025
- Business
- Mint
MSP boost: Procurement of moong and urad under price support scheme in MP, UP
New Delhi: Agriculture minister Shivraj Singh Chouhan on Tuesday approved a move to procure moong and urad in Madhya Pradesh and urad in Uttar Pradesh under the Price Support Scheme (PSS). PSS is usually implemented when prices of pulses, oilseeds and copra fall below the MSP (minimum support price) during peak harvesting periods, and is intended to ensure farmers receive remunerative prices for their produce. The decision was taken following a proposal received from the Madhya Pradesh government. Similarly, approval has been granted for the procurement of urad under PSS in Uttar Pradesh, said the government in a statement. The matter was discussed in a meeting attended by Madhya Pradesh minister for farmers' welfare and agriculture development Aidal Singh Kansana, Uttar Pradesh agriculture minister Surya Pratap Shahi, Union agriculture secretary Devesh Chaturvedi, and other senior officials. The MSP for summer moong (green gram) for the 2025-26 season has been increased to ₹ 8,768 per quintal from ₹ 8,682 in 2024-25. Also, the MSP for urad has been set at ₹ 7,800 per quintal for the marketing season 2025-26. This represents an increase of ₹ 400 compared with the previous year. Under PSS, farmers receive an MSP for their produce, particularly during periods of price decline. The scheme protects farmers' incomes and incentivizes pulse production. During a meeting in New Delhi, Chouhan stated that although the decision to procure moong and urad would place a significant financial burden on the central government, it is committed to ensuring farmers receive the intended benefits. He emphasized that it is crucial for the procurement process to be carried out properly. Direct procurement from farmers will reduce the influence of middlemen and ensure that the actual benefit reaches the farmers. Issuing directions to officials, he called for the use of the latest and most effective technologies for proper registration of farmers. He advised increasing the number of procurement centres if necessary and ensuring the entire process is carried out in a fair and transparent manner. Expressing concern over complaints of irregularities in storage, Chouhan urged the ministers and officials to take concrete steps to address the issue. He assured Uttar Pradesh's agriculture minister that the central government will make every possible effort in the best interests of farmers. The government has permitted procurement of Tur (Arhar), Urad, and Masur under the PSS up to 100% of the production of the respective state for the procurement year 2024-25, to incentivize farmers and enhance the domestic production of pulses while reducing the country's dependence on imports. Furthermore, in the Union Budget 2025, the government announced the continuation of this initiative for an additional four years, up to 2028-29, wherein procurement of these pulses will be undertaken up to 100% of state production through central nodal agencies—the National Agricultural Cooperative Marketing Federation of India (NAFED) and National Cooperative Consumers' Federation of India (NCCF)—with the aim of achieving self-sufficiency in pulse production.
Mint
12-06-2025
- Business
- Mint
MSP boost: Moong, groundnut procurement approved under price support scheme
Agriculture minister Shivraj Singh Chouhan has approved a proposal to purchase 54,166 tonnes of moong and 50,750 tonnes of groundnut crops under the price support scheme (PSS). The PSS is usually implemented when prices of notified pulses, oilseeds and copra fall below the MSP (minimum support price) during peak harvesting periods, and is intended to ensure farmers receive remunerative prices for their crop. The minister also approved a 15-day extension of the procurement period in Andhra Pradesh till 26 June. While the groundnut will be procured from Uttar Pradesh for the summer crop season 2025-26, the moong will be procured from Haryana, Uttar Pradesh and Gujarat, per a government media release. The MSP for summer moong (green gram) for the 2025-26 season has been increased to ₹ 8,768 per quintal from ₹ 8,682 in 2024-25. Also, the MSP for groundnut has been set at ₹ 7,263 per quintal for the marketing season 2025-26. This represents an increase of ₹ 480 compared to the previous year. In order to incentivize farmers and enhance the domestic production of pulses while reducing the country's dependence on imports, the government has permitted procurement of Tur (Arhar), Urad, and Masur under the PSS up to 100% of the production of the respective state for the procurement year 2024-25. Furthermore, in the Union Budget 2025, the government announced the continuation of this initiative for an additional four years, up to 2028-29, wherein procurement of these pulses will be undertaken up to 100% of state production through central nodal agencies, namely National Agricultural Cooperative Marketing Federation of India (NAFED) and National Cooperative Consumers' Federation of India (NCCF), with the aim of achieving national self-sufficiency in pulse production. The Centre is implementing the integrated Pradhan Mantri Annadata Aay Sanrakshan Abhiyan (PM-AASHA) scheme, which encompasses the PSS, price deficiency payment scheme (PDPS), market intervention scheme (MIS), and price stabilisation fund (PSF). The overarching objective of this initiative is to ensure assured and remunerative prices for farmers' agricultural produce, thereby protecting their income and securing their livelihood against market fluctuations. To be sure, India follows three cropping seasons—rabi, kharif, and summer (or Zaid). The summer window, which runs from March to June, sits between the main rabi harvest and the onset of kharif sowing. These crops typically grow on irrigated land and have shorter growing cycles, making acreage trends a useful early signal of agricultural momentum.
