-The Financial Express Persistence of high food inflation can harden the monetary policy stance and make fiscal choices difficult Food inflation increased to 7.9% in May 2016 as against 4.23% in April. This sudden spurt in food inflation is attributed to vegetable prices, followed by pulses and sugar. Is this a short-term spike or will it be a persistent one? If it is going to be a persistent one with pass-through effects,...
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Retail inflation inches up to 5.76 per cent in May -KR Srivats
-The Hindu Business Line New Delhi: A sharp spike in food articles inflation has led to May retail inflation inching up to 5.76 percent, weakening prospects of any RBI repo rate cut in August. This May 2016 print is higher than retail inflation of 5.01 percent in May last year and 5.47 percent in April this year. Food articles inflation jumped to 7.55 percent in May 2016 from 6.40 percent in previous month. The...
More »Govt hints at lower hikes in support prices for farmers -Zia Haq
-Hindustan Times The government could move away from large hikes in support prices for farmers, agriculture minister Radha Mohan Singh hinted on Wednesday, signalling a key farm policy shift aimed at rationalising subsidies and taming inflation. The minister said some people thought the “only way to shore up farmer income is through minimum support prices”. “Wrong. This alone won’t do unless farmers diversify their activities into livestock, kitchen gardens, fishery etc. That’s our...
More »Grain of truth
-The Indian Express (Edit) Punjab’s wheat payment crisis strengthens the case for direct transfers in MSP operations. For a state whose farmers have already suffered from crashing basmati paddy prices and damage to their cotton crop from whitefly pest attacks, the current payment crisis in wheat couldn’t have come at a worse time. Government agencies have so far procured over 6.5 million tonnes (mt) of wheat from Punjab in the new...
More »Punjab foodgrain scam: Top bankers say could stop lending to state
-PTI The decision was taken by a consortium of banks which held a meeting in New Delhi. Some thirty odd bankers led by State Bank of India, which are staring at heavy losses to the tune of Rs 12,000 crore from the unfolding food scam in Punjab, on Monday discussed all options, including to stop lending to the state government. The decision was taken by a consortium of banks which held a meeting...
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