The Central Statistical Organisation estimate of overall GDP being likely to grow at 7.2 per cent this year has brought back the confidence of the industry and policymakers that the economy has truly turned the corner. But the growth of the farm sector is almost flat (-0.2 per cent), though this too is a pleasant surprise given that it was exposed to the worst drought since 1972. The real worry...
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Sugar: Exports despite shortage leave Govt red-faced by Rahul Srivastava
Sugar prices have been rising, and the government has been offering sweet nothings. But on Tuesday the entire Opposition - even UPA's allies - will put the government in the dock over price rise. At this juncture, a notification by the Directorate General of Foreign Trade (DGFT) is certainly bad news for the beleaguered government. Though sugar exports are banned, the DGFT issued a notice on February 15 allocating 10,000 Metric tonnes...
More »Now, a farmers’ suicide SENSEX by Sadiq Naqvi
Nearly 2 lakh farmers committed suicide in India since 1997. The share of big five states accounted for 1,22,823 suicides in this 12 year period. The data compiled by the National Crime Records Bureau points out that 16,196 farmers in India ended their life in 2008. K Nagaraj, an economist, in his report Farmers' suicides in India: Magnitude, Trends and Spatial Patterns, says, "The title to land was taken as the...
More »Fertilizer plan won’t help soil: Experts by Amit Bhattacharya
The new nutrient based subsidy (NBS) regime cleared by the Union Cabinet on Thursday is likely to slash the governments subsidy bill and boost fertilizer production. But one of the major stated aims of the policy that of promoting a more balanced use of fertilizers by farmers may not be actualized unless other measures are implemented in tandem. That seems to be the view of many agriculture experts and economists,...
More »The soil for change
Finally, they have bitten the bullet on fertiliser subsidy. For the past three years, the Union government has agonised on the issue of mounting expenditure on this account and has not had the courage to cut the subsidy. While Finance Minister Pranab Mukherjee announced his intent to introduce a nutrient-based subsidy (NBS) in his last Budget Speech, he has finally shown courage to do so on the eve of this...
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