Stung by the skyrocketing retail prices of onion in the country, the Centre on Thursday announced abolition of import duties and banned its exports for an indefinite period. Cabinet Secretary K.M. Chandrasekhar, who is personally monitoring the situation, asked the State governments to take strong action against hoarders. He asked the Commerce Ministry to import onions to cool down prices. The government directed its three trading companies — STC, PEC and MMTC...

The Centre today sought to justify the export ban on onion by saying that the wholesale price of onion in NAShik, the country’s largest wholesale hub for the bulb crop, had declined by 33 per cent to Rs 2,500 per 100kg or Rs 25 a kg. The impact will not be felt immediately on kitchen budgets as it will take some time – “two to three weeks”, according to Sharad Pawar...

With the Union government refusing to play Santa Claus and regulate market forces, the merciless rise in onion prices threatens to mar Christmas, New Year and Makar Sankrantri festivities. With several markets reporting a further rise in prices to about Rs.85 a kg, Prime Minister Manmohan Singh intervened, by directing the Ministries of Agriculture and Consumer Affairs to take steps to bring its prices to affordable levels. According to sources, the Prime...

Retail prices of onions continued to remain high on Tuesday even as a ban on exports led to a 30% fall in wholesale rates. The government, however, cautioned that retail prices would fall from current exorbitant levels (of Rs 75-80 per kg) only after three weeks. But prices are expected to return to the last month's reasonable levels (Rs 20-25 per kg) across the country only in March, when the...

The Congress has proposed the introduction of an RTI-like legislation exclusively for “corporate corridors”, floating what looks like a NAScent idea at a time some industrialists have criticised the government after the leak of the Niira Radia tapes. The suggestion was made in the latest issue of the Congress mouthpiece Sandesh and released today at the plenary where Sonia made an anti-corruption drive the cornerstone of her speech. “The Right to Information...