Economy News Notes:

The Prince of Arcot Nawab Mohammed Abdul Ali on Tuesday urged the Centre to provide capital gain tax exemption for the super senior citizens, who are over 80 years, in the coming Union Budget 2012-13.
The Prince of Arcot made this appeal on behalf of the super senior citizens as the latter might be forced to sell their property to meet their soaring medical expenses, to discharge any debt or education expenses of their children or grand children.

The Consortium of Indian Farmers' Association (CIFA) has welcomed the opening up of Foreign Direct Investment (FDI) in the retail sector, saying it will help establish the much-needed linkages and facilitate supply of their produce directly, by forming themselves into ‘producers groups'.
It would eliminate middlemen at three points between the farmer and the consumer, including the local broker, agent, wholesaler, city stockist and retailer, where the farmer had to part with a share.
FDI would increase competitive spirit and farmers would only gain
There are six lakh villages and no MNC will have a store in a village
there was a lot of variation between the price the farmer got for his produce and the end-consumer price. Underscoring the need for branding local produce, he cited the example of ‘BPT-5204', (Samba Masuri) that was also called ‘Wonder Rice'.

Tobacco farmers in the district have urged the Centre and the Tobacco Board to allow FDI in the sector, saying it will ensure them a better price.
30 to 40 per cent of tobacco farmers were drifting away from cultivation.
the trade was not willing to pay a good price for tobacco grown in black cotton soils of East Godavari and Krishna districts on the plea there was no demand for the variety in the international market.

Securities and Exchange Board of India (SEBI) Chairman U. K. Sinha on Tuesday called for the need for introspection and developing business plans that help larger participation in the capital market.
He also mandated the market players to innovate products with a social purpose taking into account the customer needs.
He said that in the recent past, certain risky products were introduced in the markets across the globe and these products failed between regulators. Hence, a clear regulatory mechanism needed to be devised
Mr. Sinha said that efforts could also be taken to channelise savings of pension and provident funds to capital markets
He also underlined the importance of KYC (know your customer) as a crucial national and international requirement
SEBI's risk management system had stood the test of time and urged the market players to take risk management seriously while keeping abreast of trends in technology adoption and high frequency trading.
The SEBI chief said the recent SEBI regulations on Alternate Investments and Financial Advisors were major steps to protect the interests of domestic investors.

High residential property prices in some parts of the country and rising interest rates have not dampened the appetite for home loans in the first half of the current financial year