-PTI   Spiralling international oil prices have put a strain on the country's import bill Stating that India faces "formidable" challenges on the energy front, Prime Minister Manmohan Singh today said spiralling international oil prices have put a strain on the country's import bill and domestic prices need to be rationalised. "With Imports accounting for about 80% of our crude supplies, the spiralling prices of crude in the international market have put a...

-Reuters Latest World Bank food price index showed the cost of food rose 8% between December and March Global food prices are rising again, pushed higher by costlier oil, strong demand from Asia and bad weather in parts of Europe, South America and the United States, the World Bank said on Wed nesday. The latest World Bank food price index showed the cost of food rose 8% between December and March. In the...

Rice, wheat production seen at highest ever, but other commodities show a decline from previous year’s harvest The government estimated a record high foodgrain crop for the 2011-12 crop year that ends in June, driven mainly by higher output of rice and wheat, but experts said prices are likely to remain firm and keep inflation at around 7%. The likelihood that the government will increase the minimum prices it guarantees farmers for...

-PTI The government on Tuesday said it has agreed in-principle to deregulate diesel prices, but is not considering similar proposal for the cooking gas.  "Government has, in principle, agreed to make the prices of diesel market determined," Minister of State for Finance Namo Narain Meena said in a written reply to the Rajya Sabha.  While petrol prices are market-linked, the government fixes the rates of LPG, kerosene and diesel, which results in a...

That this is the first time a compulsory licence has been granted in India is in itself important. INDIA'S long struggle to ensure access to affordable medicines for its people recently took a positive and interesting turn. In early March, just before he demitted office, Controller General of Patents P.H. Kurian passed an order on an application filed by Natco Pharma, headquartered in Hyderabad, requesting a licence to produce an anti-cancer...