Marginal cost – 6 Toros 6 Sat, 08 Jan 2022 11:10:46 +0000 en-US hourly 1 Marginal cost – 6 Toros 6 32 32 Buhari is expected to bring the price of cooking gas back to how it reached in 2015 –HURIWA Sat, 08 Jan 2022 08:15:59 +0000

The civil rights group, Human Rights Writers Association of Nigeria, has called on the president, Major General Muhammadu Buhari (retired), to restore the price of liquefied petroleum gas, commonly known as cooking gas, as ‘he had reached it in May 2015 when he took office. .

HURIWA’s national coordinator, Emmanuel Onwubiko, made this known in a conversation with The punch the Saturday.

Nigerians have little to celebrate or rejoice in the recent marginal drop in the cost of cooking gas, Onwubiko said.

According to PUNCH conclusions, the price of 12.5 kg of LPG increased from N8 800 to N8400 and N8200. In some outlets, the price of the goods fell between 7,800 and 8,000 N on Thursday.

The product had grown 240 percent to 12.5 kg, rising from 3,000 N to 10,200 N in the first 10 months of 2021.

The development has forced some LPG users to switch to charcoal or firewood, as consumers of the product have sounded the alarm about the continued rise in its price.

The national LPG expansion implementation plan program manager, office of the vice president, Dayo Adeshina, said the federal government was putting measures in place to ensure a further reduction in the cost of cooking gas.

However, in a conversation with our correspondent on Saturday, the HURIWA coordinator stated that the marginal reduction (less than N1000) in the price of cooking gas is not substantial.

Onwubiko said, “The failure of relevant government agencies to regulate the pricing of gas assets in Nigeria is a recipe for encouraging the growing poverty situations that we have witnessed since 2015, when President Muhammadu Buhari put in place frameworks. economic policy devoid of progressive mechanisms.

“The government does not have the political will, the sincerity of its intentions and the commitments to do what is necessary to ensure that millions of homes in Nigeria are not subjected to economic hardship just so they can get gas to power their food preparation and other essential services nationally and otherwise.

“High gas costs have resulted in the closure of many restaurants and small businesses, increasing the unemployment rate in Nigeria. The high cost of gas has affected the green environment and it shows this government is being hypocritical when it says it is ready to take corrective action to stem the consequences of climate change.

“All of this international travel costing taxpayers billions of naira by the president and suite of ministers to attend global climate change-related summits without taking local action to verify the unaffordable costs of gas resources in Nigeria are cosmetic and hypocritical.”

When asked if it would be better for Buhari to reduce the price of cooking gas to what it was in 2015, Onwubiko replied, “Yes, but this government is unrepentant and incompetent.

“The government is happy to impose scandalous and satanic economic policies on Nigerians. This is even why the government has decided to tax us more for the consumption of soft drinks even when the wives of politically exposed officials buy expensive champagnes and wines at public expense for their own pleasure in their cocoons ”, he added. -he adds.

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Europe paves the way for the Exascale 2023 supercomputer Tue, 04 Jan 2022 15:23:09 +0000

While the United States, China, Japan and other countries have set and even met targets for exascale supercomputing, the European continent has been less clear on its own path.

However, momentum is building, as the EuroHPC Joint Undertaking (JU) has taken the first steps to establish the future site of Europe’s first exascale system and how it will be funded. The EuroHPC Joint Undertaking has sent out a call for proposals to sites likely to host Europe’s first exascale supercomputer, which the organization says could be acquired in 2022.

Under the proposal, EuroHPC will cover half of the costs of acquiring the system and up to half of the costs of operating the system. All infrastructure and site construction costs will be on the hosting site, but EuroHPC may include a portion of the site preparation and adaptation costs in the total cost of ownership to be covered by EuroHPC.

The simple goal, according to EuroHPC, is to build “a capability system with an aggregated level of performance capable of running at least an exaflop of sustained performance measured using the Linpack benchmark” and one that covers the needs of a wide range of applications “in particular, applications of great challenge which clearly require the use of the capacities of the supercomputer, that is to say the simultaneous use of a large part of the resources of the system.

Another important goal is to be able to “perform at least Level 1 measurement quality for a Top 500 submission” and centers will need to provide their own configuration specifications, including node types (with or without accelerators, nodes to high memory, etc.) as well as the memory, storage and network architecture offered and how these are distributed throughout the system. Additionally, competing sites will need to take these node counts and provide the expected Linpack numbers and expected performance expectations for the domains.

The 2022 horizon to acquire a system (with delivery in mid-2023) is fast approaching. Applications are expected by February, but EuroHPC also said submissions may include exascale paths versus straight systems, including prototype machines.

According to the call, “Interested hosting entities can also include in their application an optional system aimed at the development of an advanced experimental platform towards exascale systems. The objective of such a platform will be to develop an exploratory high-performance computing infrastructure for the development, integration, testing and co-design of a wide range of European technologies suitable to be part of future exascale systems. Europeans. The costs of developing, installing and operating such a platform are expected to be marginal compared to the overall cost of the proposal. “

To date, the EuroHPC Joint Undertaking has already purchased seven supercomputers, located across Europe. Five petascale supercomputers: Vega in Slovenia, MeluXina in Luxembourg, Discoverer in Bulgaria, Karolina in the Czech Republic and Deucalion in Portugal, as well as two EuroHPC LUMI pre-exascale supercomputers in Finland, Leonardo in Italy. The acquisition of the third EuroHPC pre-exascale supercomputer, MareNostrum5 in Spain, is underway.

If the hosting entity decides to include this optional system in its application and its application is selected, any grant that will be established to cover the operating costs of each EuroHPC supercomputer may also include a part covering up to 50 % of eligible costs. for the development of the advanced experimental platform towards exascale. The maximum costs cannot exceed 6% of the overall TCO of the EuroHPC supercomputer.

Only existing and robust sites can apply with such a short time frame, as the information required includes details of past experiences with the Top 500 class system.

The sites must have an electrical capacity of the order of 20 to 25 MW, as well as a UPS power supply to cover the other elements of the system (storage, networking) and large cooling capacities by air or liquid. in at least 700 square meters of raised floor.

Centers vying for Europe’s first exascale system will also be ranked based on a number of broader factors, including the expected total cost of ownership of the system in the context of the importance of the applications, the experience of the sites in the management of large systems, the overall physical and IT support infrastructure and the willingness to work with EuroHPC JU users. These sites will need to provide details of their PUE over the past year for existing systems, details of facility depreciation and current electricity tariffs, as well as the number of people currently required (and expected). ) to operate a future exascale system.

EuroHPC JU states that any hosting site must meet the basic requirements in time for the expected delivery time of June 2023. If this delivery time is met, it is conceivable that we could see the first exascale system in Europe in the Top 500 in November 2023.

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A flat tax would only benefit the rich Fri, 31 Dec 2021 20:50:14 +0000

Content of the article

Of all the bad ideas Jason Kenney and the UCP have had, the return of the flat tax to Alberta is high on the list. Simply put, the flat tax places an additional burden on those who are already the poorest in the province, and it does not lead to growth.

Content of the article

This province already has a more than fair tax system for the richest people in the province. Currently, Albertans are not taxed on the first $ 19,369 of income, while those earning less than $ 131,220 pay 10% of taxable income, with the figure barely reaching 15% for those earning 314 $ 928.01 or more. In other words, Albertans who earn less than half of the top tax bracket pay only 5%. 100 less.

“We used to have a single rate personal income tax system here… and I think it was responsible for a huge tax shift to Alberta because people moved. here to benefit from by far the most marginal income tax rates in the country, ”Kenney said last week.

While some wealthy people may move to Alberta, if the flat tax is reinstated, it will not help the average wage earner. This is just another form of trickle-down economics, which we have seen time and time again not work.

As Lindsay Tedds, associate professor of economics at the University of Calgary, told CBC in 2018: “It won’t have a big impact on the tax bill unless you’re insanely rich and you pay at this 15% rate. “

Even the conservative think tank Fraser Institute says the flat tax would cost the province $ 1.36 billion in revenue after a four-year period.

Yet it is normal for this government. “Help the rich and the corporations try to create jobs. Lose money and hurt ordinary Albertans instead. Shortly after taking office in 2019, Kenney and his government provided significant tax breaks to oil companies, including $ 233 million to Husky Energy. Husky laid off 370 employees later that year.

Content of the article

And yet, Kenney did not learn from this failure. Last year he gave TC Energy $ 1.5 billion for a pipeline. Anyone with a brain knew that if Joe Biden won the U.S. election, he would annul them, which he did on his first day in office. Kenney even openly admitted he knew this was one of the President’s campaign promises.

He lost $ 1.3 billion in that province and then had the audacity to ask the Prime Minister to “urge” the United States to compensate Alberta for the money it emptied.

It is clear that giving our money to the better off has not worked, and giving them more tax relief will not bring prosperity to Alberta either. The question needs to be asked, why do they keep trying this?

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6 benefits of routine equipment maintenance Thu, 30 Dec 2021 06:13:14 +0000

A contribution from Servi-Tek Facility Solutions

The old adage “if it ain’t broke, don’t fix it” does not apply to servicing equipment in a commercial setting. But then, why would you pay for an equipment service if there is nothing wrong with it?

Here are six essential reasons why this activity is important and how it can benefit you and your business.

1. Reduce expenses

In a manufacturing environment, a problem with a machine that goes undetected can lead to the creation of defective products. The results of the output may be components or products that do not meet specifications and should be discarded.

What if a broken machine part goes unnoticed for days or weeks?

The manufacturer may have a significant amount of inventory or materials that cannot be sold. This can create a “domino effect” when the faulty outlet is a necessary part when assembling another product.

In addition to lost productivity, the machine operator responsible for the equipment may need to stay on after hours. This could shift the worker’s weekly hours to overtime, which means the employer also pays extra wages for that period.

Improper maintenance practices could result in ineligibility for coverage of an asset’s supplier warranty claims.

If a machine during the warranty period has not been properly maintained and is now in need of major repair, the supplier usually requests appropriate documentation showing the maintenance history.

This not only illustrates a potentially costly result of not following maintenance procedures. This further demonstrates the importance of clearly maintaining written documentation to support any possible warranty claim.

Overall, those who own expensive capital assets are always encouraged to make the necessary efforts to protect those investments.

2. Reduce the risk of accidents

Several reports published by the International Journal of Occupational Safety and Ergonomics have explained how unexpected equipment failures create accidents.

Researchers determined that about 35 percent of workplace incidents were related to equipment failures used in production.

The construction industry is a sector occupying a leading position in the total number of fatal accidents at work.

In this area, many fatalities are linked to equipment failures, especially those where maintenance practices were inconsistent. Accidents and injuries resulting from improper equipment maintenance have been shown to persist despite excellent worker safety training.

The Occupational Safety and Health Administration (OSHA) is one of the main regulatory bodies involved in the overall prevention of workplace accidents.

The OHSA has determined that there is a strong correlation between poor maintenance standards and workplace injuries and fatalities. For this reason, equipment maintenance should be one of the topics covered in appropriate training in safe work practices.

Keep in mind that an active preventive maintenance program will never stop all unexpected problems, but not performing timely service only invites problems.

Workplace injuries and accidents are not only tragic and bad for morale at work, but are also potentially very costly. Injuries and accidental deaths in work environments can result in sharp increases in the rates you pay for workers’ compensation coverage.

In addition, these accidents create opportunities for potentially costly civil litigation in personal injury claims.

Maintenance failures involving professional equipment have proven to be a worker safety risk in dozens of other industries.

3. Reduce breakdowns

When proper maintenance is not performed on assets such as machines or tools, the result is increased failure rates. Workplaces that do not properly maintain their equipment can expect a sharp increase in the number of breakdowns.

Often times, ignoring small or relatively minor maintenance tasks on a piece of equipment will only create bigger problems. Here, the short-term savings from neglecting maintenance translate into major financial calamities later on.

Another thing to consider is that a major repair to a piece of equipment will require locating and obtaining a replacement part within a short period of time. The cost of shipping and managing all operations equates to more wasted time and money.

Equipment failures resulting from inadequate maintenance practices demonstrate the importance of proper preventive maintenance.

Preventive maintenance is a term describing the concept of adopting proactive maintenance and servicing practices.

Preventive maintenance contrasts with reactive maintenance, the latter causing abrupt shutdown (downtime) and unexpected work by technicians to complete repairs.

4. Make the equipment last longer

Machines contain a variety of different parts that wear out over time, including gaskets, bearings, and seals. These components require proper inspection to assess their condition and replacement if necessary. Based on the recommendations of the manufacturer, specialists will perform service functions, which are sometimes based on the number of hours of operation.

Some types of fixed assets purchased by the organization will eventually be upgraded to the latest technology.

The existing equipment could be sold to another user in the aftermarket. The value of the asset for resale may reflect the quality of the maintenance performed and the records documenting this activity.

One aspect of maintenance that is often overlooked or overlooked is the regular cleaning of equipment. In many industrial working environments, these expensive assets are exposed to soot, dust and dirt. These airborne particles can adhere to moving parts and contaminate oils or lubricants and alter their viscosity.

Particles of dirt and dust can become lodged in filters, adhere to fans, and restrict airflow through vents. The result of neglect is that the equipment can be exposed to excessive heat. This is a factor that contributes to premature equipment failure, which could be avoided during the maintenance process.

Expensive capital goods have a life cycle that can be roughly classified into three phases: new, middle and end of life.

In the first phase, the organization makes a significant investment and the equipment is expected to operate at peak efficiency. Problems that arise early in the period are usually the result of errors during installation or faulty components.

During the middle phase, the equipment should operate efficiently and provide some value for the organization’s investment. Good maintenance is essential during this second phase to recover the initial purchase cost.

The performance of equipment in the final phase of life is largely based on the quality or lack of prior maintenance.

5. Increase efficiency

During the first phase of an equipment’s useful life, it is likely to operate at peak efficiency. To truly measure overall value, an asset’s level of efficiency is a critical factor. It is important to first define what efficiency is and how it is calculated.

Efficiency is a measure of how efficiently a piece of equipment operates relative to critical costs. These costs include the amount of energy consumed as well as the time and money required to operate. When measuring energy efficiency, the value is compared in proportion to the energy and resources used.

As mentioned earlier, aging equipment and negative environmental factors generally combine to decrease operating efficiency. The piece of equipment can use increasing levels of fuel, electricity, and other utilities and resources every day.

In the final phase of service life, poorly maintained equipment will usually be very expensive. This is the result of marginal production or production, increased energy consumption and increasing maintenance costs.

In this case, major repairs and component replacements are likely and good managers recognize the greatly diminished value of its continued operation.

6. Improve the working conditions of employees

There is an overall correlation between an organization’s commitment to workplace maintenance and employee job performance and satisfaction. Unsurprisingly, working in a disorganized, cluttered, or poorly maintained environment every day is not good for morale. Employees working in a clean, safe and well-maintained environment are in a better position to be successful on the job.

Working with equipment that is regularly unusable is both disheartening for employees and does not reflect the quality standards of the organization. Good equipment maintenance practices are all about consistently and diligently doing the little things to achieve long-term success and value.

How can we expect workers to perform at a consistently high level in an organization operating in reverse?

Many employees working in roles such as service and production have their performance reviews based on efficiency and performance.

In many cases, their level of performance depends on having the necessary tools and equipment. When maintenance is not a priority, it often creates resentment as the performance of the equipment is closely linked to the achievement of objectives.

Organizations that do not adopt the proper maintenance standards and practices will end up not delivering quality.

The same is true of a commercial service provider, as poor quality work is inevitable when done with poorly maintained tools. Employees prefer to take pride in the quality of the products or services that the organization creates or delivers.

Maintenance failures often lead to negative economic consequences, including stagnant wages, poor benefits, and other problems.

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Making Cents: How To Spend Your Year-End Bonus Tue, 28 Dec 2021 10:39:45 +0000

It’s that time of year again, when year-end bonuses have been or are about to be announced. (If you get one)

And before it hits your account it is important to think about what you should do with it and how you can optimize it because after all it was hard earned so you want to get out of it. the best part.

I say part, because maybe you don’t intend to spend it all and maybe you aren’t going to save it all either, then you might be wondering if there is an amount optimal or% that you should split between the two?

And I think so.

I referred to a rule of thumb in an article I published a few weeks ago on the% you should save and / or spend when you get a raise. And those are great numbers that can also be applied to an annual bonus payout.

Let me remind you what they are.

Spend Twice Your Retirement Years

Record your age, as a% of the bonus

If your bonus was € 4000 and you were 32, then this rule of thumb would suggest that you spend 66% of your bonus i.e. 32-65 = 33 x 2 = 66.

Thus, you are free to spend € 2,640 of your bonus and save the balance.

When we look at the second rule of thumb, it suggests that same person saves 32% of their bonus and spends the rest, so the two rules of thumb are roughly the same.

Which amounts to spending two-thirds of the bonus and saving one-third.

Having said that, if you have high double-digit debt, or if you are saving for a deposit on a house or something, or if you have very little savings, then maybe these percentages need to be adjusted and skewed more. towards savings and / or debt repayment, and a much lower percentage allocated to spending.

Okay, let’s say you’re good with% and now you know how much you can spend, what are you going to do with the savings part? Where are you going to deposit this money, and I see four good areas:

Get rid of debt

Like I said before, but I’ll say it again, depending on your situation, paying off debt is something you may need to do. But if you feel aggrieved that you have to do so, it may help to know that paying down or reducing debt can also be a great investment, especially when the rates for money on deposit are so low and the inflation so high.

And yes, understand that this isn’t the most glamorous way to spend your bonus, but it can be one of your best financial decisions nonetheless. The less debt you have, the more your income can be freed up and allocated to other areas. And of course, you’ll pay less interest in the long run, but that’s almost a sum because it’s not something noticeable that you’ll see deposited into your account, whereas having more disposable income lasts. is.

Increase your retirement fund

You may not be contributing the maximum amount to your retirement fund as much as you can, and you may be able to supplement the amount by making lump sum payments to your pension through voluntary supplementary contributions (AVC).

If, for example, you are 31 years old, you can personally contribute 20% of your income up to an income ceiling of € 115,000.

So if you are currently contributing, say 8% of salary, you can make additional contributions of up to 12%.

If we look at the example I gave earlier where this person has € 1,360 to save, and if they pay that into their pension fund, after tax deduction, and suppose they pay tax at the marginal rate of 40%, it will only cost them € 816, and they will get a refund of € 544.

Which means that when they receive the tax break they can increase the amount they can spend of their bonus by an additional € 544. So on their bonus of € 4000, their spending can now reach € 3,184, but they did not sacrifice the amount they should have saved, that amount remains the same.

Thus, in addition to planning their future, adopting this strategy, they transform their bonus of € 4,000 into a bonus of € 4,544.

Investing for long-term growth

We know if you leave money on deposit it won’t pay off. In fact, its value will decrease if you factor in inflation.
If the € 1,360 that I spoke of were saved, next year after inflation sets in, will only be worth € 1,292.

Which is not a decisive factor but when you take into account the lost opportunity, not to invest in accounts that bring in for example 5%, the differential between the money on deposit and in a well-managed fund becomes quite wide.

And you might think that 5% is pretty high and where would you get that type of return. In fact, I’m lowering the return to 5%, we have accounts where our own clients have achieved + 42.4% returns in the last 12 months and earned + 21% per year for the last three years, so these accounts exist and there are many.

So the type of fund you invest in matters, it has to be in a good Exchange Traded Fund (ETF) or a managed fund, it just has to be. Or maybe you can use an online platform like Degiro or Revelot to buy crypto if you want to and see how it goes.

Whatever mechanism you choose, whether manual or not, you need to be proactive and do something. You don’t really have a choice if you want your savings to keep up with inflation, which is currently around 5%. This is the minimum return you need to get on your savings just to keep their value, not to mention their increase.

And you won’t get that if it’s on a checking or deposit account, that’s for sure.

Investment in oneself

It’s a bit of a cliché I know, but investing in yourself is something you should consider because your career is where most people get the vast majority of their income, which is why you never stop focusing on it.

Use part of your bonus to invest in continuing education, books, attending conferences, etc. makes good use of it and even a small change in the way you work and what you do can make a big difference. Adding value to an employer above what is expected and making yourself more valuable to them and more attractive to others, can increase the amount you earn, which can lead to hundreds of thousands of additional income earned on the employer. during your life.

That’s about it for me in 2021. It is a privilege to write for you every week and I hope you have found my articles during the year informative and above all useful. I can’t wait to pick up where I left off in January 2022.

I wish you all a safe Christmas and best wishes for the New Year.

Liam Croke is Managing Director of Harmonics Financial Ltd, based in Plassey. He can be contacted at or

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The pitfalls of legalizing agricultural support prices Sun, 26 Dec 2021 15:06:57 +0000

While the peasant unrest that lasted more than a year was finally quashed, their demand for a law guaranteeing minimum support prices (MSP) for crops continues. Can PSM be legalized in a country that produces around 1,000 million tonnes of agricultural raw materials? If so, who will benefit from it? How much will such a plan cost? Are there any alternatives?

The Center has annually announced the MSP of crops for two seasons – kharif and rabi – since 1965, based on the recommendation of the Agricultural Costs and Prices Commission (CACP). Initially, it was only advertised for wheat and paddy. Over the years, other cultures have been added. The MSP is currently proposed for 23 crops. Historically, the MSP is determined based on the cost of cultivation, the prices of inputs, the supply and demand of crops, the price level in world markets, etc.

Although the CACP uses nine different cost concepts (A1, A2, A2 + FL, B1, B2, C1, C2, C2 * and C3) to estimate the cost of production, the MSP was set based on the formula cost A2 + FL until 2018 While cost C3 includes all expenses incurred for cultivation, A2 only covers the farmer’s direct expenditure for cultivation. That is, the cost A2 + FL (family labor) does not take into account the cost of depreciation of agricultural machinery, interest on loans, etc. Therefore, the spread between the cost C3 and A2 + FL is 30 to 50 percent for most mandates. harvests.

In such a scenario, crop production becomes unprofitable for farmers. They therefore require PSMs that cover all production costs. The Farmers Commission led by MS Swaminathan (2006) recommended that MSPs for crops be set at 50 percent more than the cost of production. In light of continued demand from farmers, the government made a historic announcement in the 2018-2019 budget that the PSM will be set at at least one and a half times the cost of production.

Since Kharif 2018, the MSP is fixed on the basis of the cost A2 + FL plus 50% of the formula. However, even after achieving this unprecedented increase in PSM, farmers claim that the income from cultivation is grossly insufficient. This is mainly due to poor procurement, which is essential to benefit from the MSP.

Defective purchase:

The supply has been poor over the years, except for paddy and wheat. Even for paddy and wheat, not all states have benefited from the supply. The total amount of paddy purchased during the 2020-21 kharif was 601 lakh tonnes (lt). Of this total, 174 were from Punjab and Haryana. That is, about 29% of the money spent on buying paddy went to these two states alone. Likewise, about 52% of the money spent on wheat purchases went to these two states. Can this distorted supply help farmers in other states?

The supply is not linked to the crop production of the different states. In 2018-2019, Punjab’s share in paddy production was only 11%, but its share in purchases was 25.53%. West Bengal’s share in purchases was only 4.46 percent, while it accounted for 13.94 percent of paddy production. Similarly, Tamil Nadu accounted for 5.26 percent of paddy production, but its share of purchases was only 2.91 percent.

Thus, rice farmers in most states may have sold their crops to private traders below the MSP. This is also reinforced by data from the Farmers Situation Assessment Survey (SAS) in 2018-2019 which highlighted that only around 17% of farm households sold paddy to supply agencies. If the supply of crops is linked to their production in each state, most PSM issues will automatically go away. So what is preventing the link between supply and production?

Alternative options

Although elite farmers believe legalizing PSM will benefit them, it can have serious ramifications. Some estimates suggest that it will cost around ₹ 17-lakh crore each year to purchase the 23 compulsory crops.

In addition, if the MSP is legalized, there will be a demand to include other crops, notably fruits and vegetables, the current production of which is around 320 million tonnes. Dairy farmers may also require an MSP for milk and other products. Therefore, the cost of purchasing under the MSP will be unimaginable and will increase dramatically every year. In addition, it will mainly benefit farmers with more than 2 hectares of land.

The question of legalization of the MSP arises mainly due to the exploitation by intermediaries and private traders. Often, farmers do not even receive 70 percent of the MSP for their produce from private traders. This is reinforced by ACCP data, which shows that market prices are below the PSM for most compulsory crops. Therefore, the government should pass a law with the condition that no crops can be purchased by private traders or agencies below the MSP. This will eliminate most of the problems associated with MSP.

Second, SAS data from 2018-19 suggests that knowledge of MSP-based procurement is low. This could be higher among smallholder farmers, who constitute 86 percent of all farmers. As a result, private traders and middlemen exploit farmers by setting lower prices. To stop this, the government can pass a law on “the right to sell to the MSP by marginal and small farmers”, with a carefully designed methodology.

The third option concerns procurement. According to SAS data from 2018-19, the number of farm households that sold their crops to the supply agency is only around 5% for most crops (see Figure 1). With this low supply, how can farmers benefit from PSM?

The Shantha Kumar Committee report (2015) not only questioned the undue emphasis on paddy and wheat supply, but suggested expanding the supply system.

If 20 to 25 percent of crop production is purchased, the flow of excess supply into the market can be reduced, which will increase market prices for the benefit of all farmers.

Even if the MSP is legalized, there is no guarantee that it will help increase farmers’ incomes as the methodology followed to estimate the cost of production is outdated and flawed.

While every effort is needed to set the MSP based on the actual cost of production, it is also necessary to reduce the cost of cultivation which has skyrocketed, especially after the introduction of MGNREGS.

The author is a former full-time member (official) of the Agricultural Costs and Prices Commission, New Delhi. Opinions expressed are personal

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Cubs dropped from 3rd to 13th in payroll after waves of cost-cutting measures Fri, 24 Dec 2021 16:00:00 +0000

It’s not like we need confirmation, but the Chicago Cubs have slashed and burnt payrolls over the past two years, dropping from third in the league in 2019 to 13th in 2021, according to the ‘AP.

This is hardly a surprise. Remember – last winter, Jed Hoyer decided not to bid on Kyle Schwarber and then swap Yu Darvish – by taking their two contracts off the books. All of the additions were marginal and cost next to nothing, then July massive sales hit. Craig Kimbrel, Ryan Tepera, Andrew Chafin, Trevor Williams, Kris Bryant, Javier Baez and Anthony Rizzo have all been traded – leaving the team with next to zero in the sense of long-term commitments.

With that clean slate, however, Hoyer has already made a few improvements to the roster, signing veteran wide receiver Yan Gomes to a two-year contract, bringing in former top prospect Clint Frazier and, of course, signing Marcus. Stroman has a three-year pact. , also.

It goes without saying: If Chicago brought in Carlos Correa, you could see an additional $ 35-40 million a year in payroll, depending on the length of a deal. Going forward, the Cubs have no contracts beyond the 2024 season. Per Spotrac, David Bote has a $ 7 million option for 2025, but unless there is a dramatic turnaround it would even be a shock. to see him on the list in three years.

Carlos Correa or not, Cubs have money to spend after lockout ends

If you’re all-in on Correa, don’t be. There are a ton of alternatives out there, and whether Tom Ricketts admits it or not, there’s a lot of money to be spent following the cost-cutting measures of the last 18 months or so. Hoyer doesn’t have to expand on Correa to make this squad noticeably better than the one we’ve seen on the pitch after the deadline.

The front office failed to secure a contract extension with one of the team’s main players of 2016, including Baez, Bryant and Rizzo. So far this winter there haven’t been any talks between the Cubs and Willson Contreras either, so you might see him drop off the books before the end of July as well.

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Overall, the MLB payroll has fallen 4% – back to levels seen in 2015 – so you can bet the MLBPA will take note when both sides come back to the table to talk about the economy in January. .

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The best and worst Christmas 2021 times to travel to Phoenix Wed, 22 Dec 2021 19:19:10 +0000

PHOENIX, AZ – If you’re planning a Christmas vacation away from Phoenix this year, or have relatives coming to visit you in the valley, you are in good company.

Phoenix is ​​listed as the # 9 travel destination in the United States this holiday season, according to AAA. Other national cities with warmer climates top the list, with Orlando at No. 1 and Las Vegas at No. 3.

More than 109 million people in the United States plan to hit the road between Dec. 23 and Jan. 2, according to the year-end travel forecast recently released by the AAA. This is a 34% increase from 2020, when most people were forced to cancel travel plans or hold smaller celebrations at home due to the coronavirus pandemic.

Find out what’s happening in Phoenix with free real-time Patch updates.

This dramatic rebound – an additional 27.7 million people traveling – will bring this year’s figures to less than 8% of 2019 levels. Airlines will also see a 184% increase in the number of travelers over the year last.

“With the vaccines widely available, conditions are very different and many people feel more comfortable with travel,” Paula Twidale, senior vice president of AAA Travel, said in a press release.

Find out what’s happening in Phoenix with free real-time Patch updates.

Car travel remains the preferred mode of travel during the holidays. More than 100 million people plan to reach their destinations by car after gasoline cost $ 1.25 a gallon more than a year ago. More than 6 million people are expected to travel by air, while 3 million people book buses, trains and cruises.

AAA booking data through October shows travelers are heading to theme park-rich destinations such as Orlando, Florida, and Anaheim, California. Las Vegas, New York, and several other Florida cities also rank among the best.

Whether you plan to travel by plane, train, or automobile, those doing so in large urban cities are likely to see increased delays in areas where traffic jams are already common.

The transport analysis company INRIX, in collaboration with AAA, foresees only marginal delays throughout the holiday week. However, major metropolitan areas in the United States could see more than double the delays compared to typical driving times, while drivers in New York City are likely to experience more than three times the delays.

Delays in the valley could be made worse by rainy weather which is expected to hit the region late Thursday and continue through Christmas Day, according to a forecast by the National Weather Service.

Across the country, here are the best and worst times to travel on Christmas and New Years:

23 december

  • Worst journey time: 12 am-6pm
  • Best travel time: after 7 p.m.

December 24

  • Worst journey time: 2 p.m.-6 p.m.
  • Best travel time: before 1 p.m.

December 25th

  • Minimum size expected.

December 26

  • Worst travel time: 1 p.m. to 7 p.m.
  • Best travel time: before noon.

December 27

  • Worst travel time: 5-6 p.m.
  • Best travel time: before 1 p.m.

December 28

  • Worst travel time: 1 p.m. to 7 p.m.
  • Best travel time: before noon.

December 29

  • Worst travel time: 1 p.m. to 7 p.m.
  • Best travel time: before 11 a.m.

December 30

  • Worst travel time: 1 p.m. to 7 p.m.
  • Best travel time: before noon.

December 31st

  • Worst journey time: 2 p.m.-4 p.m.
  • Best travel time: Before 1:00 p.m.; after 5 p.m.

January 1st

  • Minimal congestion expected

January 2

  • Worst journey time: 2 p.m.-6 p.m.
  • Best travel time: before 1 p.m.

Travel costs

Travelers are also likely to experience higher prices and other changes compared to last year. AAA recommends that travelers book their flights, car rentals, accommodations and other activities as early as possible, as prices are not expected to drop as the holidays approach.

Traveling by plane: AAA flight booking data shows that Christmas week ticket prices are up 5% from a year ago, with the average round-trip fare lowest at $ 154. For those traveling around New Years, prices will be considerably higher, with the lowest average fare at $ 182.

Hotels: The cost of a night in mid-range hotels has increased by about 36%, with the nightly rate averaging $ 320 over Christmas and $ 267 on New Years.

Car Rental: Daily car rental rates average around $ 130, a 20% increase from last year.

Travel tips

Planning ahead can avoid a number of travel headaches, according to AAA:

  • Get to the airport early so you have plenty of time to clear the longer TSA lines and other travel control points. For domestic travel, AAA suggests two hours before the departure time and three hours for international travel.
  • Consider booking a flight during off-peak periods to reduce waiting times.
  • Hit the road when there is less traffic and allow more time to get to your destination.
  • Plan ahead. Check with state and local authorities where you are located, along your route and at your intended destination to learn more about local circumstances and any restrictions that may be in place.
  • Minimize stops along the way. Pack extra meals, snacks and drinks in addition to a roadside emergency kit.
  • Follow public health advice. Use face masks and remember to distance yourself socially. Wash your hands regularly and be sure to pack sanitizing wipes, hand sanitizer, and a thermometer to help protect and monitor your health.
  • Check with your hotel. Before any hotel stay, call ahead to make sure your hotel is open and ask what precautions it takes and what requirements are in place to protect guests.

For other helpful travel tips from the AAA, visit the organization’s COVID-19 travel restrictions map for the latest state and local travel restrictions. You can also use to plan your road trip and help you determine which rest areas, gas stations, restaurants, and hotels are open along your route.

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Pound rallies late after Erdogan increases currency Tue, 21 Dec 2021 07:05:37 +0000

SINGAPORE: Oil prices rose on Tuesday, although investors remain concerned about the rapid spread of the Omicron coronavirus variant around the world, prompting countries to consider more restrictions that could reduce demand for fuel.

Brent crude futures were up 59 cents, or 0.8%, to $ 72.11 a barrel at 4:18 a.m. GMT, while US West Texas Intermediate (WTI) crude futures were up 73 cents, or 1.1%, to $ 69.34 a barrel.

“After a few tough days, crude prices are rebounding as much of the COVID wall of concern has been built in,” said Edward Moya, senior analyst at OANDA.

“The short-term blow to economic growth from the border closure is still unknown and oil prices will remain sensitive to any stricter travel requirements.”

New Zealand delayed the planned reopening of its international border due to the massive spread of Omicron around the world on Tuesday, as several other countries reimposed social distancing measures.

Many countries are on high alert days before the Christmas and New Year celebrations, with Omicron infections increasing rapidly in Europe, the United States and Asia, including Japan where only one group in a base military has risen to at least 180 cases.

Yet Moderna Inc said on Monday that a booster dose of its COVID-19 vaccine appeared to protect against the rapidly spreading Omicron variant in lab tests, offering investors some hope.

On the supply front, OPEC + compliance with oil production cuts fell to 117% in November from 116% a month earlier, two sources in the group told Reuters, indicating that levels of production remain well below agreed targets.

In the United States, crude oil inventories are expected to decline for the fourth week in a row, while distillate and gasoline inventories likely rose last week, according to a preliminary Reuters poll on Monday.

The poll was conducted ahead of reports from the American Petroleum Institute, an industry group, due Tuesday, and the EIA, the statistical arm of the US Department of Energy, due Wednesday.

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Will the fall of the Turkish currency make the holidays cheaper? Sun, 19 Dec 2021 16:20:10 +0000

Rupal Shukla would describe his recent trip to Istanbul, Turkey, as a shoppers’ paradise, all thanks to the fall in the country’s currency pound. “I bought leather shoes for ??800 (when converting from lire to INR) from a popular local LC Waikiki department store in Turkey. The same shoes would usually cost ??2,000 to 2,500, ”she said.

1 Turkish Lira (TRY) is equivalent to almost ??4.6, as on December 17th. Six months ago, the value of the INR against the TRY was ??8.48, while a year ago it was more than double at ??9.65.

“I was able to do a lot of shopping because consumer products valued in lire were quite cheap when converted to INR,” added Shukla.

But this crisis is unlikely to result in a substantial drop in the overall budget for travel to Turkey. This is especially true if you are purchasing a vacation package from a travel agency.

Mint spoke to three travel agencies that offer tour packages to international destinations to find that there has not been a noticeable difference in the prices of tour packages to Turkey or other countries whose value of the currency has fallen in recent months. “Our rates for hotels and tours are contracted in USD for the entire season and therefore such exchange rate fluctuations don’t really have an impact,” said Rajeev Kale, President and Country Head, holidays, MICE, Visa – Thomas Cook (India).

Rikant Pittie, co-founder of EaseMyTrip, agrees. “For the Turkish market, we only deal in euros and US dollars and so far we have not seen any reduction in the prices of vacation packages. Hotels across the country continue to charge in euros and US dollars without reducing their prices, ”he said.

Shukla corroborated these findings. “There has been a marginal drop in hotel prices, but limited to only 13-20%. Most hotels generally use the base currency USD or Euro, so unless a hotel bases its rate in lire, travelers won’t see a huge price change, ”she said.

If we look at air fares, Daniel D’Souza, President and Country Head, SOTC Travel, said that has also not changed from the pre-covid era.

“The plane ticket to Istanbul from Mumbai and Delhi is currently around ??45,000 to ??50,000, which is roughly in the same range as in 2019. “

Currency depreciation can be beneficial for DIY travelers, as their purchasing power over local spending will increase.

“The lira depreciation will be of benefit to customers when they exchange their money in local currency for transportation, shopping, experiences and meals,” D’Souza said.

However, that still may not make a huge difference to the overall budget, as airfare and accommodation costs, both of which make up the bulk of a travel budget, will remain the same. Of course, instead of booking online, you may want to consider saving on hotel rates by looking for cheaper deals on the ground at bed and breakfasts (B & Bs), homestays and holiday homes. ‘hosts, who are more likely to charge in local currency.

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