This week’s good news on food price inflation was evened out by the bad news on fuel prices hike. But, both were along expected lines. Thanks to the so-called “base effect” — the fact that last year this time food prices were rising sharply and since last year’s prices become the denominator in this year’s price ratio, the rate of inflation would be expected to moderate — and to an...

A working group on agriculture constituted by Prime Minister Manmohan Singh has suggested that the government provide farm loans to farmers at four per cent interest rate, raise the minimum support price (MSP) for farm produce to 50 per cent higher than the actual cost of cultivation and expand Diesel subsidy scheme across the country.The Working Group on Agriculture Production headed by Haryana Chief Minister Bhupinder Singh Hooda submitted its...

The Centre has nixed a demand from Delhi MLAs for a sharp 300 per cent salary hike. The Union government sent back the proposal saying a pay revision isn't due in Delhi until 2012 and the proposed conveyance allowances are way over the top for a small state like Delhi. Law and justice minister Mangatram Singhal confirmed that the Centre had indeed shot down the move.''The Centre has said a revision is...

Environment minister Jairam Ramesh today said the use of sports utility vehicles and BMWs in India was “criminal” and called for changes in Diesel pricing to discourage people from riding fuel-guzzlers. He said India’s SUV market was growing on subsidised Diesel, the owners benefiting from the subsidies intended mainly to help farmers. “The growth of large-size vehicles like SUVs is a growth of concern.... The use of vehicles such as SUVs and...

Environment and Forests Minister Jairam Ramesh Friday called for corrections in the fiscal policy to discourage luxurious cars like BMW and Audi in the country as they were a major source of greenhouse gases. Speaking at a workshop on 'Promoting Low Carbon Transport in India' here, Ramesh said there was no need to subsidise Diesel as it only helped the sale of luxurious cars in the country. "We don't need subsidy in...