The employment guarantee scheme has resulted in a big spurt in not only wages but also household income in the rural areas, an analysis of the data since the beginning of the programme in 2006-07 show. While rural wages have risen 38% since 2006-07, household income saw a 74% increase in the four years up to 2009-10. This is despite the fact that just 13% of the 5 crore beneficiary families...
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After waiver, loans at 5% for farmers next on agenda by Mahendra Kumar Singh
At a time when agriculture production has become key to economic expansion, the Union Cabinet on Friday will consider a proposal to fulfill its promise of crop loans at a cheaper rate of 5% to farmers who make timely repayment. In the current year's budget, finance minister Pranab Mukherjee had proposed to give up to 2% interest rate subvention to farmers who do not default on their repayments, making the...
More »Inflation: A nation forced to go on distress diet by Rukmini Shrinivasan
After nearly 15 straight months of double-digit food inflation, the government announced on Thursday that food inflation had dipped to 9.67% for the week that ended on July 17. That's small consolation for most Indians, particularly the poor, who have seen a relentless assault on their food budgets that has resulted in essential items being dropped from the menu, giving rise to a whole new enforced "austerity diet". Since no...
More »Food for a billion by Nitin Sethi
On Wednesday, the National Advisory Council turned UPA's election promises into firm deliverables under the National Food Security Bill. That was a tough one to resolve itself. But it's a job half done as yet. The Sonia Gandhi-led NAC is now going to get into a much more difficult arena. It has to figure out provisions for the act that hold administration and bureaucracy accountable for delivery and also ensure...
More »OECD: Rich Countries Raised Farm Subsidies in 2009
The world’s rich countries boosted government support for agriculture in 2009, according to a report that the Organisation for Economic Co-operation and Development (OECD) released last week. The report, “Agricultural Policies in OECD Countries: At a Glance 2010,” is part of the OECD’s annual effort to quantify and assess the support that its 31 developed country members provide to their agricultural producers. The OECD found that the Producer Support Estimate (PSE)...
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