Citizens' Issues
Patanjali says its noodles followed food safety norms
 Baba Ramdev-promoted Patanjali on Wednesday said it has followed all the guidelines and regulations of the Food Safety and Regulatory Authority of India (FSSAI) in the launch of its "atta" instant noodles and other products.
 
"We have followed all rules and guidelines by the FSSAI. We have not disobeyed any of them," said S.K. Tijarawala, spokesperson for Patanjali.
 
"The FSSAI has given us the licence of re-labelling under pasta category and on basis of which we have given contract to various companies to make noodles (for us)," he said in the statement.
 
The remarks come in the wake of a top FSSAI official claiming that Patanjali's instant noodles was launched without its product approval. The authority's chairman Ashish Bahuguna has also been quoted as saying that product approval for pasta cannot apply to noodles.
 
The chairman, however, was not available for comment. Following persistent calls, his office told an IANS correspondent that the chairman "cannot respond to individual queries" and that he had said what he wanted to.
 
The authority did not issue a statement either. But a set of questions was nevertheless forwarded over e-mail to the chairman's office on the subject.
 
Tijarawala said Patanjali had taken a product licence for pasta under the "central category" and that noodles, accordingly, fell under that.
 
Forwarding some documents to IANS purportedly from the food safety authority Tijarawala alluded that by virtue of Licence Number 10014012000266, renewed on October 15 this year and valid till February 21, 2019, a "modified licence" was also issued.
 
He said the pasta sold by Patanjali has already secured the modified licence; this also gave it the right to manufacture noodles as it was only a variant.
 
Patanjali had formally launched its wholewheat instant noodles on Monday.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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CCEA approves Cochin Shipyard's Rs.33,984 crore IPO
The Cabinet Committee on Economic Affairs (CCEA) at its meeting chaired by Prime Minister Narendra Modi on Wednesday approved Rs.33,984 crore initial public offer (IPO) by Cochin Shipyard Ltd. (CSL).
 
The CCEA's approval is for issue of 3,39,84,000 shares of Rs.10 each, out of which fresh issue would be 2,26,56,000 shares and sale of the central government's holding in the company to the tune of 1,13,28,000 shares, a CCEA statement said.
 
The proceeds of the fresh share issue will be used to part-finance the following areas for expansion in short and medium term: (I) Setting up of an international ship-repair facility (ISRF) at Cochin Port Trust area; and (II) Setting up of a large dry dock within the CSL premises to take up construction of larger ships such as large sized aircraft- and crude carriers.
 
The money will also be used to take up underwater repairs to rigs and semi submersibles.
 
The disinvestment of the central government's stake in CSL is in line with the government's decision on the issue. It will raise resources for the government due to the sound financial condition of CSL, the statement added.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Cane farmers to get direct subsidy for arrears
Concerned over arrears to cane growers from sugar factories amounting to more than Rs.21,000 crore (over $3 billion) in the last season, the government on Wednesday fixed a subsidy of Rs.4.50 per quintal crushed, which will be payable directly to farmers.
 
The decision was taken at a meeting of the Cabinet Committee on Economic Affairs, presided over by Prime Minister Narendra Modi, which also decided to give priority to settlments that pertain to the previous years. 
 
"To further ensure timely payment of cane dues in the current sugar season, the Government has decided to provide a production subsidy @ of Rs. 4.50 per quintal of cane crushed to offset cane cost," said a note isued after the meeting.
 
The dole will be paid directly on behalf of mills and adjusted against the fair and remunerative prices payable in the previous years. "Subsequent balance if any will be credited to the mills' account. Priority will be given to settling cane dues arrears of the previous years."
 
Reacting to the move, the Indian Sugar Mills' Association (ISMA) said the government's decision will out to a dole of around Rs.1,000 crore as per the estimated cane crushing during 2015-16 sugar season.
 
"This decision is significant as it means the government is no longer shying away from owning up the fair and remunerative prices it fixes for sugarcane, by directly contributing for a part of the cane price, instead of continuously burdening the millers," the association said.
 
"It will reduce industry's liabilities towards cane to that extent, reducing a part of its losses," it said, adding: that at current low sugar prices, the losses will be over Rs.1,100 crore and if the situation does not improve farmers may seek further help from the Government.
 
Wednesday's move is among several decisions over the past year to help cane farmers in distress, including steps to improve the liquidity of sugar mills to facilitate the payment of dues, apart from increasing the export incentive on raw sugar. 
 
The mills were also extended soft loans worth Rs.4,047 crore to ensure farmers are paid the dues expeditiously. "Furthermore, the government has provided one-year moratorium on this loan, and will bear the interest cost to the extent of Rs.600 crore for the said period," the note said.
 
The government has has notified mill-wise export quota, laid down norms for supplying enthnol, a byproduct, to fuel retailers and extended performance subsidy to mills that exported at least 80 percent of ther targets pre-notified trgets.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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