Chief economic advisor to the finance ministry Kaushik Basu says the government should step in and acquire land for development projects to protect the interests of farmers. He also explains why the government cannot tackle food inflation by distributing free foodgrain among the poor. Excerpts from interview with ET: A large number of land-intensive project have run into opposition. Could it actually undermine our infrastructure thrust and growth? There is...

The drought in greenfield investment projects in the fertiliser sector in India is finally set to end after over a decade. Existing and prospective investors in fertiliser manufacture are reportedly willing to invest over Rs 45,000 crore in the next few years, both in expansion of existing capacities and creation of new ones. The rising excess demand for fertiliser is driving this renewed spurt in investment activity. The increase in...

Prime Minister Manmohan Singh on Monday virtually ticked off the Supreme Court, saying that it "should not get into policy formation". The trigger for this rebuke was the apex court's anger at grains rotting in FCI and government godowns, and its direction to agriculture minister Sharad Pawar to distribute grains for free to families living below the poverty line. Talking to a group of editors on Monday morning, Singh said...

The prime minister, in his Independence Day address said: “I am happy that the growth rate of our agriculture has increased substantially in the last few years. But we are still far from achieving our goal. We need to work harder so that we can increase the agricultural growth rate to 4% per annum” . Is it possible? If so how? The production shortage of wheat in India in 2006...

Has the food ministry been misleading over changes to its subsidised grain sale in the open market, resulting in massive excess stocks still lying with the Food Corporation of India (FCI) and huge wastage of grain at at time of high food inflation? In a letter to the PMO this month, the food and consumer affairs ministry has acknowledged that wheat and rice to retail consumers in states under the...