Economy News

Discussion in 'Economy & Infrastructure' started by Indian_Idol, Jun 2, 2010.

  1. randomradio
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    randomradio Mod Staff Member MODERATOR

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    In India, there's been a lot of focus on oil production. Oil companies are selling oil at as much as $60 to the public while they are now buying oil at $23 from the spot market. Rupee has been weakening too, so oil companies are making more profits.

    ONGC is investing a lot now.
     
  2. vstol jockey
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    vstol jockey Colonel STRATEGIST

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    Toxic dal could be back and it may not be a bad idea to try it
    • Zia Haq, Hindustan Times, New Delhi
      |
    • Updated: Jan 18, 2016 22:44 IST
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    Khesari dal had its own advantages. It is a tough guy in the field, highly resistant to drought and floods. If revived, it could sell very cheap because of its coarseness. (Shutterstock)


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    Three new lentil (dal) varieties belonging to a family of legumes known to be poisonous since Hippocrates’s time could be back on your plates. But should you eat them?
    India’s chronic shortage of pulses – the essential soupy item in everyday meals – has made a cheap source of protein for millions very expensive. So, the country is thinking of bringing back khesari dal (scientific name: lathyrus odoratus), which became notorious after it was linked to neurological disorders, leading to a formal ban in 1961.
    Yet, khesari had its own advantages. It is a tough guy in the field, highly resistant to drought and floods. If revived, it could sell very cheap because of its coarseness.
    The khesari family has been historically notorious. In 1942, an officer at Vapniarca, a concentration camp in the then German-occupied Ukraine, began feeding Jewish inmates bread made of grass pea (lathyrus sativus), a close cousin of khesari, to see its effects. Many began limping within weeks and died. In a Nazi regime trying to push the frontiers of science, Vapniarca’s inmates were guinea pigs.
    So, why would India want farmers to grow a crop known to cause lathyrism, a neurological disease from eating legumes of the genus “lathyrus” to which khesari belongs? That’s because the Indian Council of Medical Research has cleared three new varieties developed by farm scientists, in which they have cut the offending toxin “BOA” to safe limits.
    “These khesari varieties are mahateora, ratan and prateek. These aren’t the same varieties which caused diseases back in the 1960s that led to a ban. Those varieties are simply gone,” NP Singh, the head at the Kanpur-based Indian Institute of Pulses Research, told HT.
    Khesari is very similar to peas. “When the government imposed a ban nearly five decades ago, there wasn’t such a scarcity (of pulses),” Singh said. The Indian Agricultural Research Institute and Raipur University began working on separate ambitious projects to develop varieties that would be safer.
    So, in the light of the ICMR’s findings, the Indian Council of Agricultural Research has sought the ban to be removed by the Food Standards and Safety Authority (FSSAI).
    Singh said 11.6 m hectare rice fields remain unused after harvest in eastern India because there is too little moisture to grow anything else. “That’s where these new khesari varieties can be grown. People can consume it in moderation and use it as fodder.”
    Moreover, khesari is still widely grown in Bangladesh. Experts believe large quantities of the deadlier variety are anyway being smuggled in every year.
    On the three new “safer” varieties, the jury is still out. The FSSAI is planning to run its own set of rigorous tests before allowing them to enter the market.
     
  3. TickTickIndian
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    TickTickIndian BANNED BANNED

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    They're poisoning us all.
     
  4. vstol jockey
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    vstol jockey Colonel STRATEGIST

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    Did you read the article properly? This dal has been genetically altered to remove the toxins from it. even after that It will undergo extensive testing before being cleared for human consumption again.
     
  5. TickTickIndian
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    TickTickIndian BANNED BANNED

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    Yes I read it. It mentions about reducing toxicity to "safe level", which I don't believe. Their standards are copied from WHO, etc which has seen alot of manufactured publishings. I'm active in KarshakaSri in Kerala so I know. We specifically keep of anything advised by WHO, and also GMO here and do classes. That is why.
     
  6. TickTickIndian
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    TickTickIndian BANNED BANNED

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    Plus, WHO is controlled by R. Along with UN.
     
  7. Averageamerican
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    Averageamerican Colonel ELITE MEMBER

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    In India there are so many subsidies, price controls, government owned oil and gas companies, market regulations, government controls, that the actual market has very little to do with the actual price of fuel and natural gas..
     
  8. randomradio
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    randomradio Mod Staff Member MODERATOR

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    All the subsidies, regulations etc are dependent on external oil prices. If prices drop, taxes increase. If prices increase, subsidies increase.
     
  9. Averageamerican
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    Averageamerican Colonel ELITE MEMBER

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    The world’s cheapest gas is found in Venezuela at $0.09 per gallon (cheaper than bottled water), where the cost of filling up the 39-gallon tank of a Chevrolet Suburban is only $3.51, compared with $163.41 in the U.S. The most expensive gas among these countries is India, based on the “pain at the pump” measure. A gallon of gas costs $6.06 in India, which is about 100% of per-capita daily income (based on annual per-capita GDP of $1,400). If gas was that expensive in the U.S., it would cost about $200 per gallon (based on annual per-capita GDP of $48,387). So even at $4 per gallon, gasoline here is a real bargain. This was 2012. Gas is less $2.00 a gallon most places in USA now days.
     
  10. randomradio
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    randomradio Mod Staff Member MODERATOR

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    That's not true. A litre of petrol costs Rs 62, checked it yesterday. A gallon is 3.8 litres. So a gallon costs $3.5 at Rs 65 for a USD.
     
  11. Averageamerican
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    Averageamerican Colonel ELITE MEMBER

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    I don't know if you all have figured it out yet but the India government is "in complete disarray: It's nonresponsive, it doesn't deliver on time, and when it does, it's at a much higher cost" than is justified. Doesn't matter if its the economy, oil prices or the Rafale and PAK FA. or air craft carriers.
     
  12. Averageamerican
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    Averageamerican Colonel ELITE MEMBER

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    Article was 2012. What is an average days wage in India. 20 gallon tank fill up would be $70
     
  13. randomradio
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    randomradio Mod Staff Member MODERATOR

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    Minimum wages are $2-2.5 per day. About $9 in PPP every day.
     
  14. Averageamerican
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    Averageamerican Colonel ELITE MEMBER

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    In other words it takes a day and half to earn enough to buy a gallon of gas. That's the problem with PPP.
     
  15. randomradio
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    randomradio Mod Staff Member MODERATOR

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    Most people in India use two-wheelers which give a gas mileage of anywhere between 190Km and 350Km a gallon depending on the model.

    So a gallon or two is all they need in a month. Back when I was a kid, I would travel 20Km a day to college and back, and I would need just two gallons a month. Say, another gallon for recreation. Mine was the 190Km one.

    And back then, anybody with a high school degree could make about Rs 10-12,000 a month after taxes. And fuel expenditure rarely exceeded Rs 300 for the entire month, Rs 500 for all the bells and whistles. So that's about $10-15 a month at best for the entire month while you were earning about $250 a month. Not bad, don't ya think?

    Rural India uses bikes for the same reason. And more importantly, they don't travel as far as city folks do. A gallon could last them at least two months if not more. I remember my uncle telling me that even for small town folk, travelling more than 5Km a day is a very big deal. Most of their needs are met within a 5Km radius, schools, hospitals, govt offices, work place, food etc.

    India's Top 10 Most Fuel Efficient Bikes - News - NDTV CarAndBike.com

    [​IMG]

    Cheers.
     

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