A sharp drop in wheat procurement leaves the center to think about imposing a nominal export tax of 10 per cent, meanwhile, a recent National Family Health Survey-5 states that 41 per cent of households in India have at least one person covered by a health insurance plan or any health scheme. Read more about these topics and take a look at the top headlines for the day in the section below.
Sharp drop in procurement: Center weighs 10% tax to rein in wheat exports
Concerned about the sharp drop in wheat procurement, the Center might impose a nominal export tax of 10 per cent or make it mandatory for exporters to register themselves with a competent authority to slow the pace of shipment.
But it will wait for some time before taking a final call whether to ban export, senior officials and market participants said. Another way it could discourage export is to stop issuing the registration-cum-membership certificate (RCMC) to exporters, required to get Customs and excise benefits. Read more
Railways-coal sector rift continues amid ongoing power crisis in India
Despite the continuing power crisis in north India, the Indian Railways has failed to meet the demand for rakes for the transportation of coal during the first week of May, say sources. In the first seven days of May, Coal India Ltd needed 290 rakes per day to meet the demand from the power sector. However, the national transporter managed to supply only 265 rakes a day, although that was an improvement of 8 per cent over the last financial year. Read more
Health insurance coverage up in India but not robust yet, says NFHS
A little over two-fifths, or 41 per cent, of households in India have at least one individual covered by a health insurance plan or health scheme, according to the recently released National Family Health Survey-5 (NFHS-5). The fifth edition of the survey, the data of which pertains to 2019-21, shows a significant improvement in health insurance coverage in the country despite it remaining far from satisfactory. According to the NFHS-4, just 29 per cent households had at least one member covered under health insurance or health scheme as of 2015-16. Read more
Maruti to invest Rs 11,000 cr to set up largest facility at 800-acre site
Maruti Suzuki has initiated the process of setting up its largest manufacturing plant, but has cautioned that future investment will depend on the state of India’s auto sales which have been declining over the last four years. Maruti started looking for a site to set up a new plant in 2018 as the automaker’s Gurugram factory — its oldest manufacturing unit — has had to cut production due to road congestion. Read more
Good news for consumers: 5G phones may cost Rs 10,000 apiece by FY24
Consumers keen to pick up a 5G phone can expect some good news. Mobile device companies and global chipset manufacturers are closely working together to offer 5G mobile handsets at around Rs 10,000 by March next year, by which time the telcos are expected to have launched their 5G services in key markets of the country.
Device makers say that this price will be an inflexion point, triggering a big shift of consumers from 3G and 4G phones to high-speed 5G services. Read more