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Prices of pulses substantially stabilised due to pre-emptive measures: Centre

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The retail prices of pulses have substantially stabilised in the past five months and till date, the prices of gram, tur, urad and moong have either declined or remained stable in comparison to 2020, the government claimed on Thursday.

The Consumer Price Index inflation for pulses has also seen a consistent decline during the last five months, from 10.01 per cent in June to 5.42 per cent in October.

The pulses inflation rate was as high as 18.34 per cent in October 2020. Similarly, the Wholesale Price Index inflation for pulses has declined from 11.56 per cent in June to 5.36 per cent in October.

“Stability in the retail prices of pulses has been achieved on account of pre-emptive and proactive measures taken by the government such as taking import of tur, urad and moong from ‘restricted to free category’ with effect from May 15, in order to ensure smooth and seamless imports,” the Union Ministry of Consumer Affairs, Food and Public Distribution said in a release.

The free regime with respect to tur and urad has been extended; the last date for the bill of lading is December 31, and for customs clearance, it is January 31, 2022.

This policy measure has been supported with facilitation measures and close monitoring of its implementation by the concerned departments or organisations. The import policy measures have resulted in substantial increase in the import of tur, urad and moong as compared to the corresponding period for the past two years.

As per government data, the April to November import for tur was 3,37,360 metric tonne (MT) in 2019-20; 1,71,125 MT in 2020-21 and 4,27,796 MT in 2021-22.

Similarly, the data for April to November import of urad was 1,92,166 MT in 2019-20; 2,25,548 MT in 2020-21 and 3,56,178 MT in 2021-22. For moong, the same was 67,541 MT, 22,051 MT and 1,36,007 MT, respectively, for the same three years.

The data further showed that masur imports between April and November were 6,88,817 MT in 2019-20; 8,33,315 MT in 2020-21 and 4,59,839 MT in 2021-22, while chana imports were 2,45,651 MT, 1,35,874 MT and 1,31,327 MT for the same three years, respectively.

In order to control price escalation on account of hoarding and resultant artificial scarcity of pulses, the government imposed a stock limit on all pulses except moong under the Essential Commodities Act, 1955, on July 2, 2021.

“The stock limit order has had a salutary effect in terms of softening of prices, as such no further extension beyond October 31 was required. However, as a measure of caution, monitoring of stocks through web portal continues,” the release added.

Among the major pulses, India’s import dependence on masur is high and domestic availability and prices are vulnerable to overseas production. In order to soften the impact of higher international prices on domestic consumers, the government reduced the basic import duty on masur to zero and Agriculture Infrastructure and Development Cess (AIDC) to 10 per cent from July 27, 2021.

As a measure of market intervention, masur from the buffer stock has been made available to the states/Union Territories at a discounted price for supplies through retail outlets, in order to ensure availability to the consumers at an affordable price. This step has been further augmented with the release of masur stocks in the open market to soften the prices.

Now the protocol for fumigation of pulses at port of arrival has also been streamlined, with penalty charges waived till March 31, 2022. This would have a further positive impact on cooling retail prices of masur.

Business

FIIs return to Indian markets, pump in over Rs 10,000 crore in October

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Mumbai, Oct 16: After months of selling, foreign investors seem to be regaining confidence in Indian stock markets as the data from NSDL shows that between October 7 and October 14, Foreign Institutional Investors (FIIs) were net buyers in five of the last seven trading sessions, purchasing shares worth over Rs 3,000 crore in the secondary market.

Their buying in the primary market was even stronger, crossing Rs 7,600 crore, as per the data.

Provisional data from the NSE also indicates that FIIs continued their buying streak on October 15, adding another Rs 162 crore.

This renewed buying interest has come alongside a steady rise in key market indices.

Since the beginning of October, both the Sensex and Nifty have gained around 3 per cent, while the BSE MidCap index has climbed 3.4 per cent and the SmallCap index has advanced 1.7 per cent.

The sudden shift in foreign fund flows has surprised many market watchers. Some analysts see this as a short-term rebound, while others believe it reflects improving corporate earnings prospects and stabilising economic conditions in India.

This turnaround is a sharp contrast to the heavy outflows seen earlier this year. From January to September 2025, FIIs sold more than Rs 2 lakh crore worth of shares in the secondary market.

This happened even as the Reserve Bank of India and the government took several steps to support growth, including GST rate cuts, a steep repo rate reduction in June, and an upgrade in India’s sovereign credit rating by S&P.

During that time, Indian markets lagged behind global peers. The Sensex and Nifty rose only about 3 per cent, while the MidCap and SmallCap indices fell 3 per cent and 4 per cent, respectively.

Now, sentiment is improving on hopes of a possible India–US trade deal amid growing US–China tensions.

Expectations of a US Federal Reserve rate cut later this month are also fueling optimism, as it could bring more liquidity into emerging markets and commodities.

Experts believe India remains an attractive investment destination for global investors, supported by a weaker rupee, relatively modest valuations, and expectations of double-digit earnings growth for Nifty companies in the second half of FY26.

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Business

Sensex, Nifty open higher on positive global cues

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Mumbai, Oct 15: Indian stock markets opened on a positive note on Wednesday, taking cues from the upbeat global sentiment.

The Sensex climbed 243 points, or 0.30 per cent, to trade at 82,273, while the Nifty rose 79 points, or 0.31 per cent, to start the day at 25,225.

Commenting on the Nifty’s technical outlook, experts said that though the 20-day SMA stepped in yesterday, to limit the extent of the drop, we prefer to give more weightage to the bearish engulfing pattern, thus acknowledging the prevailing bearish bias.

“Meanwhile, we remain equally prepared to switch sides, if Nifty manages to push beyond 25230. However, we will wait for a break beyond 25330 to play directional upsides,” they added..

Buying was seen across most sectors, with heavyweights like Bajaj Finserv, Bajaj Finance, NTPC, L&T, Power Grid, BEL, Bharti Airtel, Trent, and Asian Paints leading the gains. These stocks moved up by as much as 1.2 per cent in early trade.

However, some pressure was seen in select counters such as Tech Mahindra, Axis Bank, Infosys, and Titan Company, which slipped up to 1.2 per cent.

In the broader market, the Nifty MidCap index gained 0.38 per cent, while the Nifty SmallCap index advanced 0.20 per cent — indicating a positive trend beyond the frontline indices.

Among sectoral indices, Nifty IT and Financial Services rose 0.6 per cent each, while PSU Bank and Realty indices also traded higher — reflecting a broadly optimistic market mood.

Experts said that investors are likely to track global market trends, crude oil prices, and institutional flows for further direction.

“In the current environment of heightened volatility and mixed market cues, traders are advised to maintain a cautious “buy-on-dips” approach, particularly when using leverage,” analysts said.

“Booking partial profits during rallies and maintaining tight trailing stop-losses is recommended to manage risk. Fresh long positions should be considered only if the Nifty sustains above the 25,300 mark,” they added.

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Business

Explained: EPFO overhauls withdrawal rules to boost transparency, ease access for 30 crore members

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New Delhi, Oct 14: The Employees’ Provident Fund Organisation (EPFO) has restructured its partial withdrawal regulations, combining 13 distinct clauses into three main categories: Essential Needs, Housing Needs, and Special Circumstances. This change aims to make it easier to access provident fund savings.

For the nearly 30 crore members who collectively own a corpus of about Rs 30 lakh crore, the reform aims to make the withdrawal process quicker, simpler, and more transparent.

The revised framework, referred to as EPFO 3.0, has standardised withdrawal limits.

Depending on the goal, members can now access up to 100 per cent of their eligible provident fund balance, which includes employer and employee contributions. However, at least 25 per cent of the EPF balance needs to stay in the account in order to maintain a safety net for retirement.

This implies that members can keep the required balance while withdrawing up to 75 per cent of their total corpus.

Additionally, the new regulations standardise the requirements for services. In the past, there were specific requirements for each type of withdrawal, such as five years of service for housing purposes and seven years for marriage-related withdrawals.

All partial withdrawals are now subject to a single 12-month minimum service period, which streamlines the procedure and removes any ambiguity.

Members will no longer need to provide documentation of their withdrawals under the “Special Circumstances” category, which is a significant relaxation. In the past, withdrawals under this heading required proof of emergencies, such as natural disasters or job loss.

The new clause, which permits members to leave without giving a reason, is anticipated to reduce red tape and expedite approvals.

The EPFO has also increased the withdrawal limits for marriage and education-related withdrawals. Instead of the previous cap of three combined withdrawals, members can now make up to 10 withdrawals for education and five for marriage.

Stricter guidelines for final settlements are also introduced by the reforms, though. In contrast to the previous two-month eligibility window, members can now only apply for an early final settlement 12 months after quitting their job and for pension withdrawal 36 months later.

In the event of a job loss, the 25 per cent minimum balance requirement only applies to partial withdrawals; it does not apply to full settlements.

While it is anticipated that the simplified framework will increase efficiency and transparency, workers who are laid off or have experienced extended periods of unemployment may find it difficult to obtain their provident fund savings immediately during a time when they may need it most, due to the revised settlement timelines.

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