Business, Economy & Banking Current Affairs - 2020

Business, Economy and Banking in Current Affairs 2019 with latest news and current affairs in Agriculture, Industry, Banking, Capital Markets, Import and Export and Government schemes in commercial sector.

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Milk Price Rise in India

On December 14, 2019, Gujarat Cooperative Milk Marketing Federation (Amul) and Mother Dairy (owned by National Diary Development Board) increased MRP (Maximum Retail Prices) of their pouched milk by Rs 2 per litre.

Why the price rise?

The two main reasons behind the price hike is partly structural and partly weather related. The months between October and March are said to flush season of milk. It is during this period the production by animals go up because of better fodder and water availability. In 2019, the flush of milk has been delayed due to excess rains between September and November. The excess rains logged the open field where the animals graze.

Earlier price rises

In the current year, this is the second time two such major dairy producers have revised milk rates. Earlier in 2014, GoI increased prices of milk and its products all over the country. However, it was insignificant as the increase was very little.

In the past five years, the overall rise of milk price has been Rs 8 per litre. Prior to these increases, in 2010, the price of milk in NCR region hiked by Rs 18 per litre.

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BEE organized International workshop on Energy Efficient Cooling

The Bureau of Energy Efficiency (BEE), a statuary body under Union Ministry of Power, conducted an International Workshop on 12-13 December 2019 on ‘Energy Efficient Cooling’ at Scope Convention Centre in New Delhi. The two-day international workshop was organised as part of ‘Energy Conservation Week’ being celebrated from 9- 14 December 2019.

About International workshop on Energy Efficient Cooling

Objective of Workshop:

  • To chart out steps towards accelerating development and deployment of efficient cooling appliances, equipment and systems.
  • To explore innovation, technologies, business models, policies and new approaches across space cooling and cold chains.
  • To reduce energy intensity in country by optimizing energy demand and reduce emissions of greenhouse gases (GHG) which are responsible for global warming and climate change.

It was organized by BEE in association with International Energy Agency (IEA) under Super-Efficient Equipment and Appliance Deployment (SEAD) initiative of Clean Energy Ministerial (CEM) and  International Partnership for Energy Efficiency Cooperation (IPEEC).

Participants: It was attended by various delegates such as policy makers, Govt. officials, regulatory bodies, PSUs, etc. from across the world as well as officials and experts from different international bodies related to Energy Efficient Cooling.

Highlights of Workshop:

It acted as platform for stakeholders to adopt new technologies and policy frameworks for an Energy Efficient Cooling environment. It also provided a platform for global experts, industries, and policy makers to explore opportunities to accelerate deployment of on energy efficient cooling, across different sectors and establishments.

It highlighted action plans, international best policy practices, measures to stimulate innovation and deliberations on steps forward. These initiatives and knowledge sharing sessions help in framing best policies and support industry bodies to adopt technologies from across the globe.

NOTE: India has committed to reduce 33-35% of GHG emission by 2030 as part of document submitted to United Nations Framework Convention on Climate Change (UNFCCC).

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