The acronym LPG has several expansions. It stands for liquefied petroleum gas. It stands for liberalisation, privatisation and globalisation, a term of abuse used by those with Leftwing persuasions. It stands for life plundered by the government, sentiments associated with those who are against state intervention, but increasingly felt by the so-called middle class - however defined - because of price hikes, and proposed price hikes, for petroleum products. Ostensibly, price...

-The Business Standard   For a country whose cuisine uses so much edible oil, India’s dependence on imported cooking oil is as economically debilitating as its dependence on imported energy. Barring a short spell in the late eighties, when the country was nearly self-sufficient in edible oil production, the bulk of the cooking oil needs have been met through imports for decades. Even today, domestic oilseed production does not meet even...

Government’s food subsidy bill is expected to swell to around Rs 81,000 crore in the current financial year, up from the Budget estimate of around Rs 68,000 crore for 2010-11 because of higher cost of procurement of wheat and rice and increased allocations to below poverty line and above poverty line families in the current financial year, official sources said. The 19% estimated increase in food subsidy also includes those part...

India’s monsoon rains were about 3% above normal in July, the highest for the month since 2005, making a repeat of last year’s crop failure and food-led inflation surge unlikely. Heavy rain since the third week of July has brought readings above normal for the first time this monsoon season, according to weather office data, wiping out the seasonal shortfall in almost all major grain areas other than in the east...

Earlier this week, India's opposition parties came together in a rare show of unity to take to the streets in cities across the country. They protested against the government's recent decision to raise fuel prices after it scrapped its subsidy of petrol prices in an effort to cut the budget deficit. Supporters of the right-wing Bharatiya Janata Party joined hands with their ideological rivals among the Communists to paralyse normal life in...