Probing the trail of Rs 200 crore, which was paid to Kalaignar TV by Swan Telecom in the 2G spectrum scam, the CBI has now reached at the doors of four private companies including UB Group and India Cements. While the names of the other two companies could not be ascertained, CBI officials said the four had facilitated payments to Kalaignar TV to help it repay Rs 200 crore to Swan. "We...
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Retail inflation up for both farm and rural labourers
-The Business Standard Retail price inflation for agricultural and rural labourers rose to 9.63 per cent in May, from 9.11 per cent the previous month, mainly because of a rise in the prices of food, fuel and clothing. Wholesale price inflation for May rose to 9.06 per cent from 8.66 per cent a month earlier and was one of the factors for the Reserve Bank of India to raise the repo...
More »Looking beyond paddy, finally by Sukhdeep Kaur
Punjab's attempts at diversification from water-guzzling paddy hasn’t made much headway. With looming desertification and reverse flow from water-logged blocks having brackish groundwater to areas where the groundwater table is fast depleting, the need to diversify has been underlined since long. Even in a lean monsoon year (2009), there was a record harvest of the crop. Its acreage did not fall even last year when a major part of the paddy...
More »No respite from price rise, food inflation up 9.01%
-The Times of India Notwithstanding the government's projections of a moderation in the rate of price rise of food items, food inflation jumped to a two-month high of 9.01 per cent for the week ended May 28 on the back of costlier fruits, onions and protein-based items. Food inflation, as measured by the Wholesale Price Index (WPI), was 8.06 per cent in the previous week, while it was as high as...
More »Taming price rise: Govt panel for FDI in multi-product retail
-The Times of India An inter-ministerial group (IMG) on inflation has recommended allowing foreign direct investment in multi-product retail as one of the two steps to tame rising prices and cut down the margin between farm gate and retail prices. This is the first formal recommendation by a government panel to allow FDI in the tightly policed and sensitive retail sector. "It is time for India to allow foreign direct investment in...
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