Shraddha Kapoorr

Out of this substantial allocation, around Rs 35,000 crore will be dedicated to cruise vessels, while Rs 10,000 crore is earmarked for the development of cruise terminal infrastructure by the year 2047.

The Finance Ministry, which revises interest rates for small saving schemes after every quarter, announced the new rates on Friday for the period between October 1 and December 31, 2023.

According to sources, the Consumer Affairs Ministry's price stabilisation fund (PSF) will be used to make the purchases to provide relief to the distressed farmers who have started dumping their crop as cattle feed since prices are not even covering transport costs in some areas.

A senior official said that although revenue collections have been robust with both GST and direct tax collections showing a sharp increase in the current financial year, there is no plan, as of now, to reduce borrowing.

In a statement, the commerce ministry said it has directed trade promotion body APEDA not to register contracts below $1,200 per tonne.

Apart from releasing in major markets, onions from the buffer are also being made available to retail consumers at a subsidised rate of Rs 25 per kg through retail outlets and mobile vans of NCCF from Monday (August 21). Retail sale of onion will be suitably enhanced in coming days by involving other agencies and e-commerce platforms.

The announcement was made through a notification on Saturday. This notification shall come into force with immediate effect, and will remain in force up to and inclusive of the December 31, 2023.