To control inflation and ensure long-term economic growth, India needs to harness the creativity of the large number of its farmers and entrepreneurs, especially in rural areas. The latest WPI inflation data show primary articles inflation in double digit, driven mainly by food inflation which remains stubbornly high at over 9 per cent. The high food prices are the result of structural factors with shortages getting aggravated as demand continues to outstrip...
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Global food prices drop to 11-month low in October, UN agency reports
-The United Nations Food prices dropped to an 11-month low in October, the United Nations Food and Agriculture Organization (FAO) said today, while adding that they are still higher than last year and very volatile. FAO’s Food Price Index averaged 216 points last month, down 4 per cent from September, the agency said in a news release. The index is a measure of basic food prices at the global level. “The drop was...
More »Government plans to revamp proposed food security Bill by Liz Mathew
Ahead of next year’s assembly elections, the Congress-led United Progressive Alliance (UPA) government plans to revise a proposed food security law to bring it in line with a previous draft that is deemed more liberal, and expedite its execution. Congress president Sonia Gandhi, who also heads the National Advisory Council (NAC) that drafted the initial National Food Security Bill, has suggested some crucial changes to the version that was made public...
More »Seasonal variations in food prices dropped: RBI study
-The Economic Times If food inflation seems to be pinching more, it is because vegetable prices barely decline in winters, milk rises through the year and egg prices remain high in summers - all because of rising demand. Over the years, the seasonal variation in prices has dropped and consumers do not have the option of shifting to cheaper produce to keep daily costs down, says a recent Reserve Bank of India...
More »‘Long-term trends in agriculture deeply disturbing'
-The Hindu Noted Jaipur-based economist V. S. Vyas has expressed concern over “progressive diminution” of cultivated holdings which he says has led to stagnation in the yield of major crops and rendered agricultural income insufficient for farmers to make ends meet. A sharp decline was also being witnessed in per capita food production, he said. Delivering the Tarlok Singh Memorial Lecture at the University of Hyderabad over the weekend, Professor Vyas said...
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