Driven by spiralling prices of essential items, inflation surged into double digits at 10.16 per cent in May, the highest in the last 19 months, adding to the woes of the common man. Soaring inflation, according to analysts, may prompt the Reserve Bank to tighten liquidity at its quarterly monetary policy review scheduled next month. The essential items which have become expensive, directly hitting the pocket of the common man, include pulses,...

THE Union agriculture ministry will redraft the seed bill following complaints by MPs, states and farmer groups. Their main grouse is that the bill, which aims to regulate the quality of seeds, does not monitor their prices, crucial for farmers. The Seed Bill 2010 was approved by the Cabinet in March and was to be tabled in the Rajya Sabha in mid-April. Sources in the ministry said MPs and state government...

THE government on Thursday raised the minimum support price of paddy by Rs 50 per quintal to Rs 1000 per quintal in what may push up its food subsidy bill, pegged at Rs 5 5,578.18 crore in the current fiscal. The Cabinet Committee on Economic Affairs chaired by Prime Minister Manmohan Singh also increased the minimum support price of pulses by up to Rs 700 to touch Rs 3,170 a...

Conflicting replies from the government relating to the 6 Krishna Menon Marg bungalow has deepened the mystery around the house. Two departments of the urban development ministry seem to have contrasting views on the issue with the Directorate of Estates saying the bungalow, which was allotted to Lok Sabha Speaker Meira Kumar during her tenure as a minister in UPA-1, is yet to be allotted to someone, while CPWD has...

The Supreme Court on May 7 ruled that natural resources were national assets that belonged to the people and were ideally exploited by public sector undertakings. This obviously implies that local communities, including tribals, living on mineralised land, enjoy entitlements but not prescriptive ownership rights to such national assets. This is an important reiterative clarification defining mineral rights in Fifth Schedule areas that are currently in contention. Whether PSUs should...