UPA-II's plans to replace the existing fertiliser subsidy regime with direct cash transfers to farmers will be delayed as the fertiliser ministry is likely to scrap an intermediate phase where the subsidy was to be rerouted from companies to retailers this summer. This puts paid to the fertilizer industry's expectation that very soon it would be out of the subsidy mechanism which locks up precious working capital. "We are rethinking the original...

Under fire over data integrity issues, the government has tasked a panel to revise the Wholesale Price index (WPI) with the mandate to "enhance the reliability" of official statistics on all inflation measures.  The 31-member panel, to be headed by Planning Commission member Saumitra Chaudhuri, has also been asked to explore the possibility of getting a single agency to collect data for compiling WPI and industrial production that are hitherto dealt...

One man’s fiscal problem is another man’s lifeline. Trigger happy bureaucrats and economists may love shooting down subsidies because it bloats the fiscal deficit and burdens the government but the simple fact is that in a one billion strong nation, in which nearly one in every three live below the poverty line, one needs an effective and efficient method through which privileged tax payers can support the poor. Last week, finance...

-First Post A ten percent spike in food prices could push 30 millions more people into extreme poverty in India, a report by the Asian Development Bank (ADB) has said. Ironically,  data released by the Planning Commission on Monday showed that poverty had declined significantly between 2004-2005 and 2009-2010.In absolute terms, there were 35.5 crore poor people in 2009-10 against 40.7 crore five years earlier. As per the data, poverty across the...

-PTI Expressing concern over price rise in fruit and vegetables, the government today said it will focus on addressing the issue by bringing more area under horticulture as well as raising productivity levels.  "We are more or less comfortable in cereal production. The growth rate in horticultural and animal products is good and better than cereals. But we see price rise in horticulture commodities. This is the area of concern," Agriculture Secretary...