Sat, Jul 22, 2017 | updated 12:13 AM IST

Vegetable prices surge by 40 pct in Delhi-NCR: ASSOCHAM

Updated: Aug 03, 2016 10:55 IST      
Vegetable prices surge by 40 pct in Delhi-NCR: ASSOCHAM

New Delhi, Aug 3 (ANI): Prices of vegetables in Delhi-NCR witnessed a surge by 35 to 40 percent over a month as heavy rains in several parts of the country have hit the supply line, industry body ASSOCHAM said today.

Vegetables such as lady fingers, cabbage, beans, brinjal, bitter gourd have increased by 35 to 40 percent over a month as heavy rains in several parts of the country have hit the supply line to Delhi-NCR," said the ASSOCHAM paper.

The prices in Delhi's wholesale markets have gone up by nearly 35 to 40 percent over a month. Traders at the Azadpur Mandi, Asia's largest wholesale fruits and vegetables market, said crops are not coming out of the fields due to stagnant water in fields, leading to shortage. Also, the weather department also has predicted similar weather condition for the next few days.

The ASSOCHAM findings reveals that the perishable fruits and vegetables will bear the maximum brunt. Traders in Delhi said green or perishable vegetables like cabbage, Okra (bhindi), brinjal, Karela and coriander recorded high wholesale rates.

The disparity between Wholesale Price (WSP) and Retail prices for essential vegetables like bhindi (Okra), cabbage, Karela went up beyond 35 to 40 percent from 30 June to 30 July 2016, according to ASSOCHAM recent paper.

The crop lying in the field is bound to rot due to heavy rains. The crop is not coming out of fields and hence there is a short supply in the market, adds the paper.

Okra, which were available for Rs. 20 to Rs. 25 a kg, are now being sold at Rs. 35-40 per kg in the market. In some of the localities in the city, vendors quote Rs. 50 a kg of Okra.

The majority of Indian retailers are selling vegetables at prices which are significantly higher than the wholesale price index (WPI), reveals the ASSOCHAM latest study. The difference between WSP and retail prices on an average stays around 35 to 40 percent.

Wholesale price have benefited multiple times middlemen and traders, particularly for sale of essential commodities and worst hit in the process remained farmer and consumer as farmers margins squeezed badly with consumers paying unreasonably higher prices.

Due to difference in both prices of wholesale and retail prices, the extra amount which end consumers are paying for vegetables is utterly disproportionate, adds the findings of the paper.

The essential vegetables incorporated in the study are brinjal long, brinjal round, Cabbage, Garlic, Ginger, Chilly, Okra, Peas, Potato fresh, Potato store, Tomato hybrid and Tomato local, highlights the paper.

ASSOCHAM urges government needs to improve infrastructure facility through encourage public private partnership (PPP) initiate for the development of cold storage and facility should be provided those farmers which are coming from the long distance area.

On the retail front, the analysis has observed that retailers are charging very high prices as compared to wholesale prices of the vegetables. In such scenario, government needs to play proactive role to control the retail price through surveillance scheme, adds the paper. (ANI)

Return on PMVVY scheme exempted from GST: Jaitley

Updated: Jul 21, 2017 20:18 IST     

New Delhi [India], July 21 (ANI): Union Finance Minister Arun Jaitley on Friday said that rate of return being provided to senior citizens under the Life Insurance Corporation of India's (LIC) new scheme will be exempted under the new Goods and Services Tax (GST) regime, and will be free from fluctuation, thus ensuring more stability to the aged.

Full Story >>

New Delhi [India], July 21 (ANI): Bank of Baroda on Friday announced entering into a Memorandum of Understanding (MoU) with the Directorate General of Supplies and Disposal (DGS&D) for extending various banking services to the Government e-Marketplace (GeM) initiative.

Full Story >>

Mercedes-Benz India launches new AMG GLC 43 4MATIC Coupe

Updated: Jul 21, 2017 17:34 IST     

New Delhi [India], July 21 (ANI): Commemorating the completion of 50 years of its performance brand-AMG, luxury car maker Mercedes-Benz India on Friday launched the all new Mercedes-AMG GLC 43 4MATIC Coupe, an SUV Coupe which embodies superlative driving performance and agility.

Full Story >>

Uber launches UPI-linked payment services on Android

Updated: Jul 21, 2017 17:34 IST     

New Delhi [India], July 21 (ANI): Taxi aggregator Uber on Thursday announced third payment option for their Android app users, apart from cash, e-wallet and credit/debit card with the integration of the Unified Payment Interface (UPI) payments platform.

Full Story >>

New Delhi [India], July 21 (ANI): While addressing shareholders at 40th annual general meeting (AGM) of Reliance Industries Chairman Mukesh Ambani announced a bonus issue of 1:1, which means that shareholders will get one bonus share for every one share held by an investor.

Full Story >>

New Delhi [India], July 21 (ANI-NewsVoir): EO Gurgaon organised conversation with Vikram Oberoi, the third generation scion of India's best-known luxury hospitality chain. He is the most successful purveyor of luxury hospitality in the country. Over the 10 years, when he stepped into a mainstream management role as General Manager of the Oberoi Rajvilas in Jaipur, he has relentlessly focused on quality and succeeded.

Full Story >>

New Delhi [India], July 21 (ANI): Government think-tank NITI Aayog on Friday approved investments worth Rs. 18,000 crore for high-speed rail projects for major routes of Delhi-Mumbai and Delhi-Kolkata, Union Minister for Railways Suresh Prabhu said at an ASSOCHAM event here today.

Full Story >>

ShopClues appoints Deepak Sharma as new CFO

Updated: Jul 21, 2017 15:23 IST     

New Delhi [India], July 21 (ANI): India's first and largest managed online marketplace ShopClues on Friday announced appointment of Deepak Sharma as CFO.

Full Story >>

Mumbai (Maharashtra) [India], July 21 (ANI): Reliance Industries Chairman and Managing Director (CMD) Mukesh Ambani on Friday launched its VoLTE feature phone, JioPhone, in India at an 'effective price' of Rs 0.

Full Story >>

New Delhi [India], July 20 (ANI): Paytm now enables customers to get their cashback as Paytm Gold. This will combine the spending and saving experience with an asset that is close to the hearts of Indians.

Full Story >>

Reliance Industries announces Q1 profit at Rs. 9108 crore

Updated: Jul 20, 2017 18:46 IST     

New Delhi [India], July 20 (ANI): Reliance Industries' on Thursday announced its earnings with a consolidated profit at Rs. 9,108 crore, partly driven by one-time gain of Rs. 1,087 crore.

Full Story >>

New Delhi [India], July 20 (ANI-NewsVoir): Created with an objective to deliver striking blow to counterfeiting, LetsVeriFy, an innovative and cutting-edge application by ThinkCurve is witnessing a high growth in popularity amongst customers and manufacturers in India.

Full Story >>

New Delhi [India], July 20 (ANI-NewsVoir): Preethi Kitchen Appliances, an inseparable brand of any Indian kitchen, entered Global Book of World Records, Asia Book of Records and India Book of Records recently for the demonstration of its mixer grinder's grinding prowess by organising the Longest Mixer Grinder Grinding Marathon-the first brand across the globe to achieve such a feat.

Full Story >>

New Delhi [India], July 20 (ANI-BusinessWireIndia): Been into the news since its inception, Applancer has become a renowned name in IT industry. After continuous enhancements, Applancer has become world's first decentralized software development outsourcing platform. We all are pretty aware that mobile apps are ruling the digital industry currently.

Full Story >>

Voonik TV brings Video Commerce to India

Updated: Jul 20, 2017 15:36 IST     

New Delhi [India], July 20 (ANI): India's leading personalization-based fashion marketplace Voonik has announced the launch of Voonik TV, where one can watch exciting short-form videos and shop from them, all within the Voonik App.

Full Story >>

Ducati launches the all new Scrambler Desert Sled in India

Updated: Jul 20, 2017 15:28 IST     

New Delhi [India], July 20 (ANI): Ducati India on Thursday announced the launch of the Scrambler Desert Sled. Drawing its inspiration from the off-road bikes of the '60s and '70s that made US motorcycling history in the mountains and deserts of California, the Scrambler Desert Sled offers a unique incomparable style.

Full Story >>

New Delhi [India], July 20 (ANI-NewsVoir): ALE, operating under the Alcatel-Lucent Enterprise brand, today announced it is working with PGi, the world's largest dedicated provider of collaboration solutions, to deliver integrated high-definition (HD) audio conferencing for its collaborative communications platform, Rainbow.

Full Story >>

Revival of holistic Ayurveda in post-pregnancy treatments

Updated: Jul 20, 2017 13:31 IST     

New Delhi [India], July 20 (ANI-NewsVoir): Soothika, a Global Prodice brand in Maternal and New Born Baby Care, recognized by the Government of India under Startup India programme (DIPP:1917) and seed funded by KSIDC (Kerala State Industrial Development Corporation) is providing Holistic Pregnancy Care to both the mother and the child by offering Ayurvedic products to heal the post pregnancy problems.

Full Story >>

New Delhi [India], July 20 (ANI-NewsVoir): Federation of Indian Chambers of Commerce & Industry (FICCI) in association with The New India Assurance Company Limited (NIA), Besso Limited (London Insurance Brokers) and JB Boda Reinsurance Brokers Pvt. Ltd. (JBBRIB), Mumbai today launched an Insurance Policy on ATA Carnet for the benefit of Start-Ups and Small & Medium Enterprises (SMEs) in India.

Full Story >>

Cabinet for tax agreement between India, BRICS nations

Updated: Jul 19, 2017 22:33 IST     

New Delhi [India], July 19 (ANI): The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved the signing of a Memorandum of Cooperation (MoC) with respect to tax matters between India and the revenue administrations of the BRICS countries, namely, Brazil, Russian Federation, China and South Africa.

Full Story >>