1.   

6% GDP growth next fiscal: Montek Singh Ahluwalia

Exuding confidence that economy will be back on high growth trajectory, Plan panel deputy chairman Montek Singh Ahluwalia on Wednesday said that GDP will expand by over 6 per cent next fiscal and performance will be better in second half of this fiscal. "I could easily say that it (economic growth) will be over 6 per cent, depending upon the policy of new government," Ahluwalia said addressing an event of Indian School of Business here.

2.   

India agrees to WTO's 4-year 'peace clause'

Amid mounting protest, India seems to have finally agreed to a four-year interim measure, or a ‘peace clause’, that will do away with the cap on food subsidies for farm support in developing countries under the World Trade Organization (WTO) norms. A decision on this will be taken next week during the ninth Ministerial Conference (MC9) in Bali, Indonesia. According to the final draft of the negotiating text circulated by WTO Director-General Roberto Azevêdo among trade ministers of the 159 member countries last night, on public stockholding for food security purposes, a developing country like India can provide subsidies for farm support even if those exceed the permissible 10 per cent cap.

3.   

Stock holding limit may be extended by a year for paddy, rice

The Centre is likely to extend the stock holding limit for some of the essential commodities such as paddy and rice by another year. The limit, imposed under the Essential Commodities Act, 1955, is lapsing on November 30. The Centre’s view to extend the stock limit is to check food inflation that increased to over 18 per cent in October. The Cabinet will take up the proposal on Thursday. However, Gujarat, West Bengal and Assam have opposed the proposal.

4.   

Pakistan trade delegation stresses on enhancing bilateral trade

A 10-member trade delegation from Pakistan said there is a need to enhance bilateral trade between India and Pakistan. "There is a lot of trade potential with Pakistan. If trade takes a front seat, automatically, other issues shall get pushed to the back seat," Suhaib Farooq, leader of the visiting delegation of Jhang Chamber of Commerce and Industry, Pakistan," said. He termed the bilateral trade to be the most promising factor and the most potent instrument for having better bilateral relations between the two neighbours and facilitate progress in actualizing their strategic partnership for the future.