The Planning Commission today said the annual agriculture growth target for the 12th Five Year Plan (2012-17) would be set at 4% as it was in the previous two plans. The Planning Commission deputy chairman Montek Singh Ahluwalia also said, "During the current five year plan (2007-12) we are likely to achieve average farm growth of about 3.5%, which would be little lower than targeted 4%." Ahluwalia who was conferred a doctorate...

Senior United Nations officials today called for urgent steps to rein in the rising prices for basic farm produce, petroleum and raw industrial materials whose volatility hits the world’s poorest people the hardest.     “Such volatility has huge negative impacts on vulnerable groups, such as low-income households in developing countries, for whom food expenditure can account for up to 80 per cent of household budgets,” UN Conference on Trade and Development...

It is unbelievable but true! More than 25,000 people die every day of hunger or hunger-related causes, according to the United Nations. One child dies of hunger-related causes every five seconds, taking a toll on 16,000 poor hungry children each day. More than 1.4 billion people live at poverty line or below. According to a the World Bank report, there are over 1,345 million poor people in developing countries who...

The countrywide share of corporate retail in food distribution tripled in the past four years when retail food prices showed the greatest increase. THE dramatic increase in food inflation over the past two years has been associated with several surprises. One major surprise has been how the top economic policymakers in the country have responded to it. The initial response was one of apparent disbelief, followed very quickly by the...

Illegality in India today touches almost every economic activity. It is both systemic and systematic. The Indian ruling class faced its severest crisis of credibility in 2010. Its past caught up with it and skeletons and scams were spilling out of its closets. The scams have a symbiotic relationship with the black economy. The number of scams is growing and so is the size of the black economy, which has reached...