Wholesale food inflation saw a sharp increase to 18.32 per cent for the week ended December 25, primarily due to a steep rise in onion prices. The inflation rate is a 23-week high, much above the expectations of analysts and policymakers. Food inflation, as measured by the wholesale price index (WPI), was at 14.44 per cent for the previous week ended December 18 and at 19.9 per cent in the corresponding...
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Basu blames trader cartels for high onion prices
Top economic advisor in the finance ministry on Wednesday blamed cartels among traders for the skyrocketing prices of onion. “There are forms of implicit cartels working among the traders that block the movement of new entry, the appearance of new players,” chief economic advisor Kaushik Basu said while explaining the reasons behind the onion price rise. The price of the vegetable, which is ruling at Rs 60 per kg, went up...
More »Onions to sting till March by Zia Haq
Retail prices of onions continued to remain high on Tuesday even as a ban on exports led to a 30% fall in wholesale rates. The government, however, cautioned that retail prices would fall from current exorbitant levels (of Rs 75-80 per kg) only after three weeks. But prices are expected to return to the last month's reasonable levels (Rs 20-25 per kg) across the country only in March, when the...
More »India-EU Deal Threatens Mom-and-Pop Retail by Ranjit Devraj
Retail giants pushing the European Union-India free trade deal promise consumers a "new and dynamic retail experience" but ignore the fate of India’s "mom-and-pop" stores and some 40 million people they employ. Four years in the making, the EU-India Bilateral Trade and Investment Agreement made serious headway during Indian Prime Minister Manmohan Singh’s visit to Brussels Dec. 10 and is due to be signed and sealed early 2011. But the negotiations have...
More »Obama Visit and Indian Agriculture: Profit Surge for American MNCs and Peril for Indian Farmers! by Vijoo Krishnan
A lot has been said and written about the visit of Barack Obama, the President of USA to India. The corporate media was in the usual over-enthusiastic drive to bring to its readers and viewers all minute details about his visit from where he stayed and what he ate to how many warships, planes and cars accompanied him and how a whopping $200 million was spent per day for the...
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