Below the Line - The HinduBusinessLineSENSEX 78,499.17 -455.59NIFTY 24,570.65 -65.35CRUDEOIL 7,438.00+ 61.00GOLD 151,993.00+ 3,135.00SILVER 231,633.00+ 5,797.00SENSEX 78,499.17 -455.59NIFTY 24,570.65 -65.35NIFTY 24,570.65 -65.35CRUDEOIL 7,438.00+ 61.00CRUDEOIL 7,438.00+ 61.00GOLD 151,993.00+ 3,135.00'; } document.getElementById("lgdv").innerHTML = htmlElements; } function numberformat(i) { return Number(parseFloat(i).toFixed(2)).toLocaleString('en', { minimumFractionDigits: 2 }) } async function gatherResponse(response) { const { headers } = response; const contentType = headers.get('content-type') || ''; if (contentType.includes('application/json')) { return await response.json() } return response.text(); } function getWidth() { if (Math.max(document.body.scrollWidth,document.documentElement.scrollWidth,document.body.offsetWidth,document.documentElement.offsetWidth,document.documentElement.clientWidth) > 991) { document.getElementById("mob").style.display = "none"; document.getElementById("lgdv").style.display = "block"; } else { document.getElementById("mob").style.display = "block"; document.getElementById("lgdv").style.display = "none"; } } getWidth();]]>Ethanol did not figure in the framework for the interim trade deal announced by India and the US in February | Photo Credit: iStockphotoFuelling controversyThe Commerce Department went the extra mile recently to clarify that India has made no concession or commitment to import ethanol from the US for fuel blending under the proposed India-US BTA. It also pointed out that India does not import ethanol for blending at all.However, the clarification did not explicitly state that there would be no concessions on imports of ethanol or its raw material, maize, for other uses, an industry observer noted. This could leave some room for speculation, particularly given that the US is a significant source of ethanol imports into India for various other uses.Interestingly, ethanol did not figure in the framework for the interim trade deal announced by India and the US in February. But, as officials often point out, a framework is not the final agreement.Avuncular approachIn a bid to ensure that all 1,400-odd urban co-operative banks (UCBs) become members of the National Urban Co-operative Finance and Development Corporation (NUCFDC), Amit Shah, Union Co-operation Minister, requested “Jyotin Mama” (Jyotindra Mehta, Chairman, NUCFDC) to make the membership fees reasonable. At a NUCFDC event at BSE on August 8, Amit bhai said: “Jyotin Mama comes from Gujarat. Now, to suggest to a Gujarati to reduce price and profit is a bit difficult. But I requested Mama that NUCFDC peg its membership fees as per a bank’s branch network so that even a single branch UCB can become a member of the Umbrella Organisation (UO). The objective of the UO is not profit. Its objective is to streamline UCBs and prepare them for competition at the national and global levels. And, in case there is a distress situation, the UO will help the UCBs.”Organic farming budgetThe Tamil Nadu budget has provisions to encourage organic farming, something the previous DMK government failed to do. But a little bird says allocation for farmers to get organic certification is meagre. A farmer may have to spend ₹40,000 to get certification. Taking that into consideration, the allocation is inadequate.Window dressing“Today’s 5000 is yesterday’s 6000,” senior government official in TN said, with a knowing look, when asked about why many of the TN State Finance Budget estimates last week had been revised downwards, from February. Once the cameras were off, he later explained how many of the expenses heads across sectors had been overstated in previous regime.Paper tigersThere was a short and interesting debate in the Tamil Nadu Assembly between Chief Minister C Joseph Vijay and Leader of the Opposition Udhayanidhi Stalin — this time over newspaper reading. Speaking on the Cauvery issue in the House, Vijay wrapped up his speech by saying that if the opposition members read the newspapers occasionally, they’d know what’s happening in the country. Udhayanidhi Stalin hit back, saying that just reading newspapers isn’t enough. You can read them, but you also need to listen to the farmers’ concerns.Shunted out before even portfolio allocation?It’s been nearly a week since the DK Shivakumar government was expanded, after a two-month-long deliberation, with the addition of 19 new ministers. Portfolios of the new ministers are yet to be announced, even as the monsoon Assembly session is set to start shortly.However, strong dissidence by those who missed out on cabinet berths is rattling the party. To put out this raging fire, now Congress is contemplating asking four of those sworn in to tender their resignations even before they have settled in, to accommodate dissidents.A party leader was heard quipping that this must be a kind of a record wherein ministers sworn in a week before would have been sacked even before a portfolio was given to them. Published on August 9, 2026Sign into Unlock benefits!Access 10 free stories per monthAccess to comment on every storySign up/Manage to our newslettersGet notified by email for early preview to new features, discounts & offers${ ind + 1 } ${ device }Last active - ${ la }