The Prime Minister's economic adviser, C Rangarajan, wants the Reserve Bank to remove excess money from the system to check rising prices as food INFLATION neared the decade's high of 20 per cent. "We need to see that liquidity does not put INFLATIONary pressures and for that some action on the monetary front would also be required," said Rangarajan, Chairman of the Prime Minister's Economic Advisory Council (PMEAC) and a former...
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Hard Times by Ashok Mitra
Food prices have shot up by more than 20 per cent in the course of the past 12 months. A vast proportion of the nation is being battered by the price rise — the fixed income group, the working classes, landless peasantry and small farmers who have to buy at least a part of the grains they consume from the market. There is, however, no upheaval among the suffering people....
More »Food INFLATION at 19.8% as pulses, potatoes jump
After easing a bit in the previous week, food INFLATION was back to near-20% levels in the third week of December as items such as potatoes and pulses continued to belie hopes of sustained relief over prices of essential commodities. The wholesale price-based index of food articles rose by 1.18% for the week ended December 19 from 18.65% a week ago. One week before that, food INFLATION had stood at...
More »India wins slowdown battle; defeated by rising prices in ’09 by Chandra Shekhar and Rakesh Pathak
India achieved the distinction of being the second fastest growing economy amid the global recession in 2009, but the joy was marred by the decade’s sharpest rise in food prices to the chagrin of common man. For a country that continued to lose on its exports throughout the year that has gone by, economy achieved a remarkable growth of about 7% (during April- September 2009) on the back of focused government...
More »No instant solution to curb food INFLATION: Pranab
Amid rising food prices hitting the household budget, Finance Minister Pranab Mukherjee on Thursday said he has no "instant solution" to the problem. "Unlike instant coffee, there is no instant solution to such vexed problem as INFLATION," he told reporters when asked about the steps being taken by the government to check food INFLATION which almost touched 20 per cent during the third week of December. Discounting the possibility of...
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