APRIL 20258Union Agriculture and Farmers' Welfare Minister Shivraj Singh Chouhan conducted a top-level meeting with Israel's Minister of Agriculture and Food Security, Avi Dicter, in New Delhi, to talk about enhancing bilateral collaboration in agriculture and addressing upcoming food security issues.At the meeting conducted at the International Guest House, National Agricultural Science Complex, the leaders endorsed the Agriculture Cooperation Agreement along with a detailed Work Plan designed to improve collaboration in crucial sectors including soil and water management, agricultural production, post-harvest technology, mechanization, animal husbandry, and research and development. The Indian government has passed a reshaping amendment to raise the excise duty on petrol and diesel by 2 per litre, effective April 8, 2025. The hike comes at a time when the global crude oil price is falling to the lowest level since April 2021, driven by the continued market fluctuations and trade pressures caused by US tariffs.Chouhan praised MASHAV's role in enhancing agricultural relations between India and Israel, especially via the 43 Centers of Excellence (CoEs), with 35 of them currently fully functional. He valued Israel's creative Villages of Excellence (VoE) approach, linking 30 villages to each CoE, as a revolutionary strategy for rural development. The minister invited the Israeli delegation to take part in World Food India 2025.Israeli Agriculture Minister Avi Dicter highlighted the close relationship between the two countries and underscored the significance of collaborative efforts in creating high-yield seed varieties and agricultural innovations. Both parties concurred to investigate the creation of a Five-Year Seed Improvement Plan (FYSIP) aimed at enhancing agricultural productivity and sustainability. They likewise talked about enlarging CoEs, managing pests, transferring technology, enhancing capacity, and refining post-harvest procedures.Chouhan emphasized the importance of making sure that Indian farmers receive the advantages of advanced agricultural research, especially given the increasing population and decreasing landholdings. The Israeli side exhibited significant interest in India's Digital Agriculture Mission, acknowledging its importance in empowering farmers. Despite the change in oil prices, Indian consumers will not be benefitted at the retail level. The rise in the excise duty will not affect the pump prices directly, even at a time when Brent and WTI crude benchmarks dropped by 10 percent last week -- Brent at $63.35 per barrel and WTI at $59.77, as mentioned by the Ministry of Petroleum and Natural Gas.This announcement has sent shockwaves across the stock market, with oil marketing companies (OMCs) witnessing sharp declines. Reliance Industries slipped 2.80 percent, Indian Oil dropped 1.65 percent, Hindustan Petroleum fell 2.75 percent, and Bharat Petroleum closed down 1.34 percent.The move has drawn sharp criticism from the opposition. Congress President Mallikarjun Kharge said, "Since May 2014, crude oil prices have fallen by 41 percent, yet the government has chosen to raise excise duties instead of passing on the benefits to consumers." He further added, "The government is in Kumbhakarani sleep even as investors lose 19 lakh crore in market value."This marks a surprising turnaround from the March 14 pre-election fuel price cuts, ending the price freeze in effect since May 2022. TOP STORIESINDIA, ISRAEL ADVANCE AGRI TIES WITH FOCUS ON INNOVATION, SUSTAINABILITYGOVT HIKES EXCISE DUTY ON PETROL, DIESEL BY 2 PER LITRE
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