April 12, 2021

IFFCO hikes fertiliser prices by more than 50 percent

Agriculture: The Indian Farmers Fertiliser Cooperative (IFFCO), which is the country’s largest fertiliser seller, has increased the prices of fertilisers and nutrients by 45-58 percent. A 50 kg bag of di-ammonium phosphate (DAP), the most common fertiliser in India after urea, will cost farmers INR 1,900  per bag, which is 58 percent more than the current rate of INR 1,200 per bag.

IFFCO has also increased the maximum retail prices of other popular complex fertilisers with different nitrogen, phosphorus, potash and sulphur (NPKS) proportions. The new prices are effective April 1st, 2021.

The hikes are mainly due to a sharp surge in international prices in the last six months. The landed price of imported DAP in India is now at USD 540 per tonne, as against USD 400 in October 2020. Similarly, the prices of intermediates such as ammonia and sulphur have also gone up from around USD 280 and USD 85 per tonne to USD 500 and USD 220 per tonne, respectively.

The UN Food and Agricultural Organization’s Food Price Index (FPI) number—a measure of the monthly change in international prices for a basket of food commodities (such as cereals, oilseeds, dairy products, meat, sugar, and so on)—at 118.5 points for March 2021, is the highest its been since June 2014, when it was 119.3 points. Interestingly, the FPI had touched a four-year-low of 91 points in May 2020 at the height of global pandemic-induced lockdown, before rebounding to an 81-month-high now.

Read this article to know more about the ways to improve both food production and productivity.

Tags:


May 20, 2021

Home Ministry extends validity period of FCRA registration certificates

Fundraising & Communications: The Ministry of Home Affairs (MHA) has issued a circular extending the validity of FCRA registration certificates to September 30th, 2021. This applies to all FCRA licences that have expired or will expire between September 29th, 2020 and May 31st, 2021. The decision to extend the deadline has been driven by the exigencies arising from the COVID-19 situation.

FCRA refers to the Foreign Contribution (Regulation) Act 2010, which permits charitable organisations based in India to raise funds from foreign sources.

The order also clarified that nonprofits that have already opened an account and have the requisite permission to receive foreign aid, can henceforth receive it only in these newly-opened accounts.

The FCRA law was amended in September 2020 to include a clause that mandated that all nonprofits receiving foreign aid must necessarily open an account in State Bank of India’s New Delhi Main Branch. The government had initially set the deadline for this account opening as March 31st, 2021; it later extended it to June 30th, 2021 after several nonprofits argued in court that there had been delays because necessary approvals from MHA had not been received.

Several organisations have not been able to receive foreign funds during the crisis caused by the second wave, and this has impacted their COVID-19 relief efforts. Relaxing the foreign funding rules could significantly help organisations ramp up their operations to help individuals, supply critical healthcare equipment, and respond to communities in rural areas.

Read this article to know how amending the FCRA can have unforeseen implications.

Tags:


May 20, 2021

Corporate spending on oxygen support and medical equipment now counts as CSR

Philanthropy & CSR: The Ministry of Corporate Affairs (MCA) has issued a circular that allows corporate spending on health infrastructure for COVID-19 care to qualify as corporate social responsibility (CSR) expenditure.

This includes setting up medical oxygen generation and storage plants, manufacturing and supply of oxygen concentrators, ventilators, cylinders, and other medical equipment to counter COVID-19.  

The announcement comes at a time when all efforts are being directed towards expediting efforts to support the country’s healthcare infrastructure.

According to the circular, companies can now undertake projects and activities in collaboration with other companies using CSR funds. Additionally, they can contribute to specified research and development projects, as well as publicly funded universities and certain organisations that conduct research in science, technology, engineering, and medicine.

The government had earlier clarified that setting up makeshift hospitals and temporary COVID-19 care facilities would also be considered a CSR activity. Rajesh Verma, the Corporate Affairs Secretary, has requested businesses to consider converting vacant office buildings into COVID-19 facilities to cater to the rapidly increasing caseload.

Read this article to understand why media attention on COVID-19 deaths due to lack of oxygen in big cities has skewed donor priorities.

Tags: