Ban futures trading in essential commodities, says Modi report As chairman of the working group on consumer affairs, Gujarat Chief Minister Narendra Modi has recommended that futures trading in essential commodities be banned and that organised retail in agri-produce be encouraged to make a dent in food inflation. The working group, comprising the Chief Ministers of Gujarat, Tamil Nadu, Maharashtra and Andhra Pradesh, was set up in April last. Mr. Modi...

The Economic Survey tucks away a little, dirty secret of India’s political economy in a box on power sector reform. The losses of state electricity boards, says the Survey, are now about 1% of GDP, which would translate to about Rs 78,700 crore this year. The government stopped publishing a table on this vital parameter a couple of years ago but the problem has only continued to grow in shade...

Union Finance Minister Pranab Mukherjee presented Budget 2011-12 in Parliament on Monday promising to stimulate growth and bring down inflation. Admitting that food inflation remains a matter of concern, Pranab said that the economy could have performed better. He said that the development needs to be more inclusive while announcing increased outlay on social sector schemes. "Total food inflation is down from 20.2 per cent last year to 9.3 per cent...

The Plastic Waste (Management and Handling) Rules, 2011 notified by the Ministry of Environment and Forests, should be viewed by State governments and municipal authorities as a good blueprint for a much-needed civic clean-up. The Central Pollution Control Board estimates the consumption of plastic products in India to be of the order of eight million tonnes a year. This ranges from shopping bags to household and industrial material. The volume...

The Economic Survey on Friday favoured a phased opening of foreign direct investments in multi-brand retail saying it could help address concerns of consumers and farmers, besides bringing technical know-how. Even as the debate over FDI continues, the survey said during 2011-12, projects worth Rs 24,143 crore are expected to be completed adding a capacity of 168.6 lakh square feet. "Permitting FDI in retail in a phased manner beginning with metros and...